Independent Advisor Alliance Takes $262,000 Position in Cypress Semiconductor Co. (CY)

Independent Advisor Alliance purchased a new stake in Cypress Semiconductor Co. (NASDAQ:CY) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 17,534 shares of the semiconductor company’s stock, valued at approximately $262,000.

A number of other institutional investors also recently added to or reduced their stakes in CY. Legal & General Group Plc boosted its position in Cypress Semiconductor by 2.1% in the third quarter. Legal & General Group Plc now owns 465,914 shares of the semiconductor company’s stock valued at $6,751,000 after buying an additional 9,760 shares in the last quarter. Vanguard Group Inc raised its stake in shares of Cypress Semiconductor by 8.2% during the third quarter. Vanguard Group Inc now owns 37,219,787 shares of the semiconductor company’s stock valued at $539,316,000 after acquiring an additional 2,820,094 shares during the last quarter. Nachman Norwood & Parrott Inc bought a new position in shares of Cypress Semiconductor during the fourth quarter valued at $143,000. Villere ST Denis J & Co. LLC raised its stake in shares of Cypress Semiconductor by 7.6% during the fourth quarter. Villere ST Denis J & Co. LLC now owns 5,145,372 shares of the semiconductor company’s stock valued at $65,449,000 after acquiring an additional 361,602 shares during the last quarter. Finally, Sumitomo Life Insurance Co. raised its stake in shares of Cypress Semiconductor by 457.5% during the fourth quarter. Sumitomo Life Insurance Co. now owns 94,891 shares of the semiconductor company’s stock valued at $1,207,000 after acquiring an additional 77,870 shares during the last quarter. 81.36% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Oc Kwon sold 3,710 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $17.13, for a total transaction of $63,552.30. Following the transaction, the director now directly owns 73,113 shares in the company, valued at $1,252,425.69. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Trent Thad sold 17,000 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $15.35, for a total transaction of $260,950.00. Following the transaction, the executive vice president now owns 340,117 shares in the company, valued at $5,220,795.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,710 shares of company stock valued at $679,482. Insiders own 0.55% of the company’s stock.

CY has been the subject of several analyst reports. ValuEngine downgraded shares of Cypress Semiconductor from a “hold” rating to a “sell” rating in a research note on Tuesday, January 22nd. Needham & Company LLC reissued a “buy” rating and set a $16.00 target price on shares of Cypress Semiconductor in a research note on Monday, April 1st. Craig Hallum reissued a “buy” rating and set a $18.00 target price (down previously from $20.00) on shares of Cypress Semiconductor in a research note on Friday, February 1st. BidaskClub raised shares of Cypress Semiconductor from a “hold” rating to a “buy” rating in a research note on Saturday, February 9th. Finally, MKM Partners lifted their target price on shares of Cypress Semiconductor to $18.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company’s stock. Cypress Semiconductor has a consensus rating of “Buy” and a consensus price target of $17.21.

CY opened at $15.55 on Monday. Cypress Semiconductor Co. has a 1-year low of $11.75 and a 1-year high of $18.59. The company has a quick ratio of 1.23, a current ratio of 1.82 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of 13.41, a P/E/G ratio of 1.74 and a beta of 1.96.

Cypress Semiconductor (NASDAQ:CY) last posted its quarterly earnings results on Thursday, April 25th. The semiconductor company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.08. Cypress Semiconductor had a net margin of 14.97% and a return on equity of 21.23%. The firm had revenue of $539.00 million during the quarter, compared to the consensus estimate of $535.13 million. During the same period in the previous year, the firm posted $0.27 earnings per share. The business’s revenue was down 7.4% compared to the same quarter last year. On average, equities analysts predict that Cypress Semiconductor Co. will post 0.89 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Thursday, June 27th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Wednesday, June 26th. Cypress Semiconductor’s dividend payout ratio (DPR) is currently 37.93%.

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Cypress Semiconductor Profile

Cypress Semiconductor Corporation designs, develops, manufactures, markets, and sells embedded system solutions worldwide. It operates in two segments, Microcontroller and Connectivity Division, and Memory Products Division. The Microcontroller and Connectivity Division provides microcontroller (MCU), analog, and wireless and wired connectivity solutions, including Traveo automotive MCUs; programmable system-on-chip and general-purpose MCUs; analog power management integrated circuits and energy harvesting solutions; CapSense capacitive-sensing controllers; TrueTouch touchscreens; Wi-Fi, Bluetooth, and Bluetooth low energy; and USB controllers comprising solutions for the USB-C and USB power delivery standards, as well as wireless Internet of things connectivity solutions.

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

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