Cypress Semiconductor Co. (CY) Position Reduced by Karp Capital Management Corp

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Karp Capital Management Corp cut its holdings in shares of Cypress Semiconductor Co. (NASDAQ:CY) by 14.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 101,730 shares of the semiconductor company’s stock after selling 17,430 shares during the period. Karp Capital Management Corp’s holdings in Cypress Semiconductor were worth $1,294,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Essex Savings Bank purchased a new stake in Cypress Semiconductor in the fourth quarter worth about $25,000. Loeb Partners Corp bought a new position in shares of Cypress Semiconductor in the fourth quarter worth about $25,000. Dubuque Bank & Trust Co. bought a new position in shares of Cypress Semiconductor in the fourth quarter worth about $36,000. ETF Managers Group LLC boosted its stake in shares of Cypress Semiconductor by 19.0% in the fourth quarter. ETF Managers Group LLC now owns 7,899 shares of the semiconductor company’s stock worth $100,000 after acquiring an additional 1,259 shares during the period. Finally, Nachman Norwood & Parrott Inc bought a new position in shares of Cypress Semiconductor in the fourth quarter worth about $143,000. 82.04% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Cypress Semiconductor stock traded up $0.25 on Friday, hitting $15.34. 6,170,089 shares of the company were exchanged, compared to its average volume of 4,461,678. The stock has a market cap of $5.49 billion, a P/E ratio of 13.22, a P/E/G ratio of 1.77 and a beta of 1.93. Cypress Semiconductor Co. has a 1-year low of $11.75 and a 1-year high of $18.72. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.64 and a quick ratio of 0.89.

Cypress Semiconductor (NASDAQ:CY) last posted its earnings results on Thursday, January 31st. The semiconductor company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.27 by $0.03. Cypress Semiconductor had a return on equity of 22.01% and a net margin of 14.28%. The firm had revenue of $604.47 million for the quarter, compared to analyst estimates of $598.72 million. As a group, research analysts expect that Cypress Semiconductor Co. will post 0.85 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Thursday, March 28th will be paid a $0.11 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $0.44 annualized dividend and a yield of 2.87%. Cypress Semiconductor’s dividend payout ratio is presently 37.93%.

CY has been the topic of several recent analyst reports. BidaskClub upgraded Cypress Semiconductor from a “hold” rating to a “buy” rating in a report on Tuesday, November 20th. Zacks Investment Research downgraded Cypress Semiconductor from a “hold” rating to a “sell” rating in a report on Monday, December 31st. ValuEngine downgraded Cypress Semiconductor from a “hold” rating to a “sell” rating in a report on Tuesday, January 22nd. Craig Hallum reissued a “buy” rating and issued a $18.00 price objective (down previously from $20.00) on shares of Cypress Semiconductor in a research report on Friday, February 1st. Finally, Needham & Company LLC reissued a “buy” rating on shares of Cypress Semiconductor in a research report on Thursday. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $17.32.

In other news, CEO Hassane El-Khoury sold 4,300 shares of the firm’s stock in a transaction that occurred on Wednesday, January 9th. The shares were sold at an average price of $13.00, for a total transaction of $55,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sudhir Gopalswamy sold 3,000 shares of Cypress Semiconductor stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $15.58, for a total transaction of $46,740.00. Following the completion of the sale, the executive vice president now directly owns 139,556 shares of the company’s stock, valued at $2,174,282.48. The disclosure for this sale can be found here. Insiders have sold 19,898 shares of company stock valued at $279,012 in the last quarter. Insiders own 0.43% of the company’s stock.

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About Cypress Semiconductor

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; ARM Cortex-M4, -M3, and -M0+ MCUs; R4 CPUs; analog power management integrated circuits and energy harvesting solutions; CapSense capacitive-sensing controllers; TrueTouch touchscreens; Wi-Fi, Bluetooth, Bluetooth low energy, and ZigBee solutions; WICED development platform; and USB controllers comprising solutions for the USB-C and USB power delivery standards, as well as wireless Internet of things connectivity solutions.

Read More: Balance Sheet

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

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