Rhumbline Advisers Increases Holdings in Cypress Semiconductor Corporation (NASDAQ:CY)

Rhumbline Advisers grew its stake in shares of Cypress Semiconductor Corporation (NASDAQ:CY) by 7.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 633,266 shares of the semiconductor company’s stock after buying an additional 42,184 shares during the period. Rhumbline Advisers owned 0.19% of Cypress Semiconductor worth $9,512,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Retirement Systems of Alabama increased its position in shares of Cypress Semiconductor by 0.5% in the third quarter. Retirement Systems of Alabama now owns 829,003 shares of the semiconductor company’s stock worth $12,452,000 after purchasing an additional 4,306 shares during the last quarter. Global X MANAGEMENT CO LLC increased its position in shares of Cypress Semiconductor by 20.7% in the third quarter. Global X MANAGEMENT CO LLC now owns 145,143 shares of the semiconductor company’s stock worth $2,180,000 after purchasing an additional 24,843 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Cypress Semiconductor by 0.7% in the third quarter. Principal Financial Group Inc. now owns 1,401,206 shares of the semiconductor company’s stock worth $21,046,000 after purchasing an additional 10,231 shares during the last quarter. Wesbanco Bank Inc. increased its position in shares of Cypress Semiconductor by 11.7% in the third quarter. Wesbanco Bank Inc. now owns 254,592 shares of the semiconductor company’s stock worth $3,824,000 after purchasing an additional 26,600 shares during the last quarter. Finally, Prudential Financial Inc. increased its position in shares of Cypress Semiconductor by 2.1% in the third quarter. Prudential Financial Inc. now owns 209,398 shares of the semiconductor company’s stock worth $3,145,000 after purchasing an additional 4,300 shares during the last quarter. Hedge funds and other institutional investors own 97.38% of the company’s stock.

A number of research analysts have commented on CY shares. Mizuho reiterated a “buy” rating and set a $17.00 price target on shares of Cypress Semiconductor in a research report on Tuesday, August 29th. Needham & Company LLC reiterated a “buy” rating and set a $20.00 price target on shares of Cypress Semiconductor in a research report on Friday, October 27th. Credit Suisse Group increased their price target on shares of Cypress Semiconductor from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. Craig Hallum reiterated a “buy” rating and set a $20.00 price target on shares of Cypress Semiconductor in a research report on Thursday, August 31st. Finally, Bank of America reiterated a “buy” rating on shares of Cypress Semiconductor in a research report on Sunday, October 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Cypress Semiconductor currently has an average rating of “Buy” and an average price target of $17.50.

Shares of Cypress Semiconductor Corporation (NASDAQ:CY) opened at $14.78 on Wednesday. Cypress Semiconductor Corporation has a 52 week low of $10.86 and a 52 week high of $17.42. The company has a market capitalization of $4,924.89, a price-to-earnings ratio of 30.75, a P/E/G ratio of 2.66 and a beta of 2.01. The company has a quick ratio of 0.92, a current ratio of 1.35 and a debt-to-equity ratio of 0.60.

Cypress Semiconductor (NASDAQ:CY) last posted its quarterly earnings data on Thursday, October 26th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The business had revenue of $604.57 million during the quarter, compared to the consensus estimate of $602.16 million. Cypress Semiconductor had a positive return on equity of 9.01% and a negative net margin of 5.75%. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.15 earnings per share. analysts expect that Cypress Semiconductor Corporation will post 0.56 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 18th. Stockholders of record on Thursday, December 28th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, December 27th. This represents a $0.44 annualized dividend and a dividend yield of 2.98%. Cypress Semiconductor’s payout ratio is presently -110.00%.

In other Cypress Semiconductor news, Director J Daniel Mccranie acquired 30,000 shares of Cypress Semiconductor stock in a transaction that occurred on Thursday, September 14th. The stock was bought at an average cost of $14.37 per share, for a total transaction of $431,100.00. Following the acquisition, the director now owns 55,000 shares of the company’s stock, valued at $790,350. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Sudhir Gopalswamy sold 3,000 shares of Cypress Semiconductor stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $16.60, for a total value of $49,800.00. Following the completion of the sale, the senior vice president now owns 70,607 shares of the company’s stock, valued at $1,172,076.20. The disclosure for this sale can be found here. Insiders have sold 100,604 shares of company stock valued at $1,619,497 over the last 90 days. Corporate insiders own 0.69% of the company’s stock.

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About Cypress Semiconductor

Cypress Semiconductor Corporation manufactures embedded system solutions for automotive, industrial, home automation and appliances, consumer electronics and medical products. The Company’s segments include Microcontroller and Connectivity Division (MCD), and Memory Products Division (MPD). MCD focuses on microcontroller (MCU), analog and wireless and wired connectivity solutions.

Institutional Ownership by Quarter for Cypress Semiconductor (NASDAQ:CY)

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