Profit Investment Management Lowers stake in Cypress Semiconductor Corporation (CY)

Cypress Semiconductor Corporation (CY) : Profit Investment Management reduced its stake in Cypress Semiconductor Corporation by 41.73% during the most recent quarter end. The investment management company now holds a total of 90,376 shares of Cypress Semiconductor Corporation which is valued at $978,772 after selling 64,720 shares in Cypress Semiconductor Corporation , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Cypress Semiconductor Corporation makes up approximately 0.99% of Profit Investment Management’s portfolio.

Other Hedge Funds, Including , Community Bank N.a. sold out all of its stake in CY during the most recent quarter. The investment firm sold 485 shares of CY which is valued $5,253.Carl Domino Inc reduced its stake in CY by selling 6,970 shares or 4.64% in the most recent quarter. The Hedge Fund company now holds 143,300 shares of CY which is valued at $1,622,156. Cypress Semiconductor Corporation makes up approx 1.54% of Carl Domino Inc’s portfolio. Eagle Asset Management Inc added CY to its portfolio by purchasing 861,688 company shares during the most recent quarter which is valued at $9,754,308. Cypress Semiconductor Corporation makes up approx 0.07% of Eagle Asset Management Inc’s portfolio.Nisa Investment Advisors boosted its stake in CY in the latest quarter, The investment management firm added 32,700 additional shares and now holds a total of 65,839 shares of Cypress Semiconductor Corporation which is valued at $745,297. Cypress Semiconductor Corporation makes up approx 0.01% of Nisa Investment Advisors’s portfolio.Washington Trust Bank boosted its stake in CY in the latest quarter, The investment management firm added 432 additional shares and now holds a total of 2,332 shares of Cypress Semiconductor Corporation which is valued at $27,354. Cypress Semiconductor Corporation makes up approx 0.01% of Washington Trust Bank’s portfolio.

Cypress Semiconductor Corporation closed down -0.32 points or -2.75% at $11.32 with 94,56,044 shares getting traded on Tuesday. Post opening the session at $11.58, the shares hit an intraday low of $11.11 and an intraday high of $11.58 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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.

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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