There has been some selling insider activity on Cypress Semiconductor Corporati (NASDAQ:CY) recently. Oc Kwon, Director reported the sale of 6,385 shares of CY stock. The shares were sold on June 8th for an average price of $14.01. The Director now owns $878,973 of the stock per the Form 4 SEC filing. Director Eric Benhamou sold 50,000 shares at an average price of $14.18 on Mon the 20th. That brings the Director’s holdings to $1,680,869 per an SEC filing yesterday.
Oc Kwon, Director disclosed the sale of 1,094 shares of (CY). The shares were purchased at an average price of $13.77. Kwon now owns $656,347 of the stock according to the SEC filing.
Cypress Semiconductor Corporation, launched on September 26, 1986, manufactures embedded system solutions for automotive, industrial, home automation and appliances, consumer electronics and medical products. The Business’s segments include Microcontroller and Connectivity Division (MCD), and Memory Products Division (MPD). Its programmable systems-on-chip, general-purpose microcontrollers, analog integrated circuits (ICs), wireless and Universal Serial Bus (USB)-C based connectivity solutions and memories help engineers design differentiated products..
The following firms have also recently changed their position in CY. As of quarter end Clearbridge Investments, LLC had disposed of a total of 60,000 shares trimming its holdings by 27.3%. The value of the investment in (CY) went from $2,517,000 to $2,202,000 a change of 12.5% quarter to quarter. Columbia Partners L L C Investment Management added to its stake by buying 69,794 shares an increase of 29.5% in the quarter. Columbia Partners L L C Investment Management now controls 306,643 shares worth $4,219,000. The total value of its holdings increased 55.7%.
As of the end of the quarter Fny Partners Fund Lp had bought 7,482 shares growing its stake by 41,566.7%. The value of the investment in CY increased from $0 to $103,000 increasing 0.0% for the reporting period. As of quarter end Fny Managed Accounts LLC had acquired 439 shares growing its position 141.2%. The value of the total investment in Cypress Semiconductor Corporati decreased from $14,000 to $10,000 a change of $4,000 since the last quarter.
Equity analyst Loop Capital issued its first research report on the stock with an initial rating of “Buy”. On October 18 the stock rating was downgraded from “Overweight” to “Equal-Weight” and a price target of $11.00 was set in a report issued by Barclays.
Barclays both downgraded the stock and lowered the price target on October 18 cutting the price target from $15.00 to $11.00 and changing the rating from “Overweight” to “Equal-Weight”. On September 1 analysts at Roth Capital starting coverage on the stock by announcing an initial rating of “Buy” and projecting a price target of $13.00.
On July 29 Pacific Crest maintained a company rating of “Overweight” and raised the price expectation to $14.00 from $13.00. Equity analyst Morgan Stanley lowered the price target and downgraded the stock on July 18 changing the price objective from $15.00 to $11.00 and moving the rating from “Overweight” to “Equal-weight”.
The company is now down by -4.50% since yesterday’s close of $14.23. The company recently declared a dividend that will be paid on Thursday the 20th of July 2017. The dividend will be $0.110 per share for the quarter which is $0.44 annualized. This dividend amount will represent a yeild of $3.13. The ex-dividend date has been established as Tuesday the 28th of March 2017.
Shares are trading at $13.59 barely below the 50 day moving average which is $13.71 and which is marginally over the 200 day moving average of $12.77. The 50 day moving average was down by -0.91% and the 200 day average was up $0.82.
As of the latest earnings report the EPS was $-1.96 and is expected to be $0.71 for the current year with 329,438,000 shares now outstanding. Analysts expect next quarter’s EPS to be $0.21 with next year’s EPS projected to be $1.02.
Short traders are feeling a little more bullish on shares of Cypress Semiconductor Corporati lately if you take note of the motion in short interest. The firm recorded a fall in short interest of -11.60% between May 15, 2017 and April 28, 2017. Short shares decreased 4,186,683 over that timeframe. With short interest at 31,897,734 and short average daily volume at 5,892,673, the short-interest ratio is 5.4 and the short interest percentage is 0.10% as of April 28.