K2 Principal Fund Lowers stake in Cypress Semiconductor Corporation (CY)

Cypress Semiconductor Corporation (CY) : K2 Principal Fund reduced its stake in Cypress Semiconductor Corporation by 26.45% during the most recent quarter end. The investment management company now holds a total of 772,300 shares of Cypress Semiconductor Corporation which is valued at $8,495,300 after selling 277,700 shares in Cypress Semiconductor Corporation , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Cypress Semiconductor Corporation makes up approximately 1.98% of K2 Principal Fund’s portfolio.

Other Hedge Funds, Including , Commonwealth Of Pennsylvania Public School Empls Retrmt Sys boosted its stake in CY in the latest quarter, The investment management firm added 3,776 additional shares and now holds a total of 60,005 shares of Cypress Semiconductor Corporation which is valued at $660,055. Cypress Semiconductor Corporation makes up approx 0.01% of Commonwealth Of Pennsylvania Public School Empls Retrmt Sys’s portfolio.Sii Investments Incwi boosted its stake in CY in the latest quarter, The investment management firm added 162 additional shares and now holds a total of 37,252 shares of Cypress Semiconductor Corporation which is valued at $429,516. Cypress Semiconductor Corporation makes up approx 0.03% of Sii Investments Incwi’s portfolio. Private Advisor Group added CY to its portfolio by purchasing 11,176 company shares during the most recent quarter which is valued at $128,859. Cypress Semiconductor Corporation makes up approx 0.01% of Private Advisor Group’s portfolio.American Century Companies Inc reduced its stake in CY by selling 1,404,814 shares or 65.62% in the most recent quarter. The Hedge Fund company now holds 735,887 shares of CY which is valued at $8,595,160. Cypress Semiconductor Corporation makes up approx 0.01% of American Century Companies Inc’s portfolio.Checchi Capital Advisers boosted its stake in CY in the latest quarter, The investment management firm added 1,132 additional shares and now holds a total of 4,859 shares of Cypress Semiconductor Corporation which is valued at $54,907. Cypress Semiconductor Corporation makes up approx 0.01% of Checchi Capital Advisers’s portfolio.

Cypress Semiconductor Corporation opened for trading at $11.4 and hit $11.42 on the upside on Tuesday, eventually ending the session at $11.28, with a gain of 0.45% or 0.05 points. The heightened volatility saw the trading volume jump to 27,06,324 shares. Company has a market cap of $3,623 M.

On the company’s financial health, Cypress Semiconductor Corporation reported $0.12 EPS for the quarter, based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus estimate of $0.12. The company had revenue of $456.38 million for the quarter, compared to analysts expectations of $455.19 million. The company’s revenue was down -7.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.15 EPS.

Investors should note that on Aug 9, 2016, Cypress Semiconductor Corporation announced a cash dividend of $0.1100. The company’s management has announced Sep 27, 2016 as the ex-dividend date and fixed the record date on Sep 29, 2016. The payable date has been fixed on Oct 20, 2016.

Many Wall Street Analysts have commented on Cypress Semiconductor Corporation. Company shares were Reiterated by Craig Hallum on Jul 29, 2016 to “Buy”, Firm has raised the Price Target to $ 14 from a previous price target of $12 .Morgan Stanley Downgraded Cypress Semiconductor Corporation on Jul 18, 2016 to ” Equal-Weight”, Price Target of the shares are set at $11.

Cypress Semiconductor Corporation is a provider of mixed-signal programmable solutions. The Company’s offerings include PSoC 1 PSoC 3 PSoC 4 and PSoC 5LP programmable system-on-chip families. It caters to markets including industrial mobile handsets consumer computation data communications automotive and military. The Company operates in four segments: Programmable Systems Division Memory Products Division Data Communications Division and Emerging Technologies Division. The Programmable Solutions Division designs and develops solutions for end-product manufacturers. The Memory Products Division designs and manufactures SRAM products and non-volatile RAMs (random access memories). The Data Communications Division focuses on solutions for industrial handset and consumer applications. The Emerging Technologies Division consists of the Company’s subsidiaries AgigA Tech Inc. and Deca Technologies Inc.

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