Three Bays Capital Lp Lowers stake in Cypress Semiconductor Corporation (CY)

Cypress Semiconductor Corporation (CY) : Three Bays Capital Lp reduced its stake in Cypress Semiconductor Corporation by 22.26% during the most recent quarter end. The investment management company now holds a total of 12,331,262 shares of Cypress Semiconductor Corporation which is valued at $133,054,317 after selling 3,531,512 shares in Cypress Semiconductor Corporation , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Cypress Semiconductor Corporation makes up approximately 14.08% of Three Bays Capital Lp’s portfolio.

Other Hedge Funds, Including , Vanguard Group Inc boosted its stake in CY in the latest quarter, The investment management firm added 3,196,504 additional shares and now holds a total of 26,550,974 shares of Cypress Semiconductor Corporation which is valued at $286,485,009. Cypress Semiconductor Corporation makes up approx 0.02% of Vanguard Group Inc’s portfolio.Blackrock Group Ltd reduced its stake in CY by selling 54,609 shares or 20.63% in the most recent quarter. The Hedge Fund company now holds 210,086 shares of CY which is valued at $2,128,171.Advisors Asset Management reduced its stake in CY by selling 10,998 shares or 0.43% in the most recent quarter. The Hedge Fund company now holds 2,558,341 shares of CY which is valued at $25,327,576. Cypress Semiconductor Corporation makes up approx 0.43% of Advisors Asset Management’s portfolio.Texas Permanent School Fund boosted its stake in CY in the latest quarter, The investment management firm added 6,294 additional shares and now holds a total of 244,673 shares of Cypress Semiconductor Corporation which is valued at $2,473,644. Cypress Semiconductor Corporation makes up approx 0.03% of Texas Permanent School Fund’s portfolio.

Cypress Semiconductor Corporation opened for trading at $10.73 and hit $10.9 on the upside on Monday, eventually ending the session at $10.88, with a gain of 1.30% or 0.14 points. The heightened volatility saw the trading volume jump to 35,46,666 shares. Company has a market cap of $3,511 M.

On the company’s financial health, Cypress Semiconductor Corporation reported $0.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Oct 27, 2016. Analyst had a consensus of $0.14. The company had revenue of $530.10 million for the quarter, compared to analysts expectations of $525.73 million. During the same quarter in the previous year, the company posted $0.17 EPS.

Investors should note that on Nov 7, 2016, Cypress Semiconductor Corporation announced a cash dividend of $0.1100. The company’s management has announced Dec 27, 2016 as the ex-dividend date and fixed the record date on Dec 29, 2016. The payable date has been fixed on Jan 19, 2017.

Many Wall Street Analysts have commented on Cypress Semiconductor Corporation. Barclays Downgraded Cypress Semiconductor Corporation on Oct 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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