Cypress Semiconductor Sees Unusually High Options Volume (NASDAQ:CY)
Cypress Semiconductor Co. (NASDAQ:CY) saw unusually large options trading activity on Monday. Stock traders bought 2,300 put options on the company. This represents an increase of approximately 2,811% compared to the average volume of 79 put options.
In other news, CEO Hassane El-Khoury sold 25,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $23.45, for a total value of $586,250.00. Following the completion of the transaction, the chief executive officer now owns 364,851 shares of the company’s stock, valued at $8,555,755.95. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Trent Thad sold 40,000 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $23.43, for a total value of $937,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 214,003 shares of company stock worth $4,997,920. 0.55% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Covington Capital Management bought a new stake in Cypress Semiconductor in the third quarter worth about $35,000. Liberty Wealth Management LLC bought a new stake in shares of Cypress Semiconductor during the 3rd quarter worth approximately $41,000. Point72 Hong Kong Ltd lifted its stake in shares of Cypress Semiconductor by 73.8% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,293 shares of the semiconductor company’s stock worth $51,000 after acquiring an additional 974 shares during the last quarter. Quest Capital Management Inc. ADV purchased a new position in Cypress Semiconductor during the 3rd quarter valued at $62,000. Finally, Redhawk Wealth Advisors Inc. purchased a new position in Cypress Semiconductor during the 2nd quarter valued at $175,000. 78.95% of the stock is owned by hedge funds and other institutional investors.
Cypress Semiconductor (NASDAQ:CY) last released its quarterly earnings results on Thursday, October 24th. The semiconductor company reported $0.30 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. The company had revenue of $574.52 million during the quarter, compared to analyst estimates of $570.66 million. Cypress Semiconductor had a return on equity of 17.34% and a net margin of 12.74%. The firm’s revenue was down 14.6% on a year-over-year basis. During the same quarter last year, the business posted $0.40 earnings per share. As a group, sell-side analysts expect that Cypress Semiconductor will post 0.82 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, December 26th will be issued a $0.11 dividend. The ex-dividend date is Tuesday, December 24th. This represents a $0.44 annualized dividend and a dividend yield of 1.88%. Cypress Semiconductor’s dividend payout ratio (DPR) is presently 37.93%.
Several research analysts have commented on the stock. Mizuho reissued a “hold” rating and set a $23.85 price objective on shares of Cypress Semiconductor in a report on Friday, October 25th. ValuEngine cut Cypress Semiconductor from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Cowen downgraded Cypress Semiconductor from an “outperform” rating to a “market perform” rating and set a $23.85 target price on the stock. in a research report on Thursday, November 14th. Finally, BidaskClub raised Cypress Semiconductor from a “sell” rating to a “hold” rating in a research note on Wednesday, December 4th. Twelve research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $21.81.
Cypress Semiconductor Company 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.
See Also: Cost of Equity For A Business, Investors
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