Cypress Semi (NASDAQ:CY) Rating Downgrade
Cypress Semi (NASDAQ:CY)’s Stock was lowered to “Underweight” by research professionals at Morgan Stanley. CY’s “Equal-Weight” rating is no longer valid.
The stock downgrade is noticed by equity traders, as NASDAQ:CY is right now trading 0.00% lower at $14.24 as of 2:03 AM New York time. Cypress Semi shares have [From2] 0% in the last 200 days, while the S&P500 Index has gained 13.57% in the same time period.
According to data compiled by Thomson Reuters, Cypress Semi (NASDAQ:CY)’s stock is covered by 12 equity analysts across the Street, with 0 analysts giving it a Sell rating, 8 a Buy rating, while 5 consider it a Hold. The 12-month consensus target price for the stock is $10.75, which reflects an downside potential of 24.51% over the current price.
Three Bays Capital Lp had the largest stake with ownership of 12.33M shares as of Q2 2015 for 9.96% of the US long stock exposure. Robertson Opportunity Capital Llc is another very bullish institutional investor who is owning 477,500 shares of Cypress Semi or 4.26% of their US long stock exposure. In addition, Kestrel Investment Management Corp have 3.83% of their US long stock exposure invested in the company for 744,450 shares. The Michigan-based fund Deroy & Devereaux Private Investment Counsel Inc disclosed it had bought so far a stake worth about 2.83% of the institutional investor’s stock portfolio in Cypress Semi. The New York-based fund Hilltop Park Associates Llc is also positive about the stock, possessing 1.85M shares or 2.81% of their US long stock exposure.
Cypress Semi (NASDAQ:CY) Profile
Cypress Semiconductor Corporation delivers solutions from automotive, industrial and networking platforms to interactive consumer and mobile devices. The Company’s segments include 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.
Cypress Semi (NASDAQ:CY) closed at $14.24 yesterday. A total of 45,936 shares of the company’s stock traded hands. This is down from average of 7.15 million shares. Cypress Semi has a 52 week low of $8.02 and a 52 week high of $14.98. The company has a market cap of $4.48 billion and a P/E ratio of 0.
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