Latest Stocks: Cypress Semiconductor Co. (CY) Sees Large Decline in Short Interest

Latest Stocks: Cypress Semiconductor Co. (CY) Sees Large Decline in Short Interest

Cypress Semiconductor Co. (NASDAQ:CY) was the target of a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 31,897,734 shares, a drop of 11.6% from the April 28th total of 36,084,417 shares. Approximately 10.0% of the company’s shares are short sold. Based on an average daily trading volume, of 5,892,673 shares, the days-to-cover ratio is presently 5.4 days.

Cypress Semiconductor (NASDAQ CY) opened at 14.16 on Tuesday. The firm’s market cap is $4.66 billion. The stock’s 50 day moving average is $13.68 and its 200 day moving average is $12.73. Cypress Semiconductor has a one year low of $9.11 and a one year high of $14.98.

Cypress Semiconductor (NASDAQ:CY) last posted its quarterly earnings data on Thursday, April 27th. The semiconductor company reported $0.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.06. Cypress Semiconductor had a negative net margin of 35.69% and a positive return on equity of 3.52%. The business had revenue of $532 million for the quarter, compared to analysts’ expectations of $511.41 million. During the same quarter in the previous year, the business posted $0.07 earnings per share. On average, analysts predict that Cypress Semiconductor will post $0.71 earnings per share for the current fiscal year. The business also recently declared a quarterly dividend, which will be paid on Thursday, July 20th. Stockholders of record on Thursday, June 29th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Tuesday, June 27th. Cypress Semiconductor’s payout ratio is presently -20.37%.

In related news, Director Eric Benhamou sold 50,000 shares of the firm’s stock in a transaction on Monday, March 20th. The stock was sold at an average price of $14.18, for a total transaction of $709,000.00. Following the sale, the director now owns 118,538 shares of the company’s stock, valued at approximately $1,680,868.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.33% of the company’s stock. Hedge funds and other institutional investors have recently bought and sold shares of the company. Hourglass Capital LLC boosted its position in Cypress Semiconductor by 23.5% in the third quarter. Hourglass Capital LLC now owns 804,470 shares of the semiconductor company’s stock worth $9,782,000 after buying an additional 153,200 shares during the last quarter. ProVise Management Group LLC boosted its position in Cypress Semiconductor by 24.5% in the third quarter. ProVise Management Group LLC now owns 76,200 shares of the semiconductor company’s stock worth $927,000 after buying an additional 15,000 shares during the last quarter. Engineers Gate Manager LP bought a new position in Cypress Semiconductor during the third quarter worth approximately $4,315,000. Granite Point Capital Management L.P. boosted its position in Cypress Semiconductor by 365.5% in the third quarter. Granite Point Capital Management L.P. now owns 233,800 shares of the semiconductor company’s stock worth $2,843,000 after buying an additional 183,575 shares during the last quarter. Finally, Suntrust Banks Inc. boosted its position in Cypress Semiconductor by 10.3% in the third quarter. Suntrust Banks Inc. now owns 17,310 shares of the semiconductor company’s stock worth $209,000 after buying an additional 1,610 shares during the last quarter. Hedge funds and other institutional investors own 92.40% of the company’s stock.

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