Traders Are Bearish Cypress Semiconductor Corporation (CY) After The Stock Formed Ascending Triangle

July 17, 2017 - By Michael Collier

Investors sentiment decreased to 1.22 in Q4 2016. Its down 0.16, from 1.38 in 2016Q3. It dropped, as 35 investors sold Cypress Semiconductor Corporation shares while 93 reduced holdings. 44 funds opened positions while 112 raised stakes. 290.57 million shares or 1.15% more from 287.28 million shares in 2016Q3 were reported.
Grp One Trading Ltd Partnership reported 0.03% of its portfolio in Cypress Semiconductor Corporation (NASDAQ:CY). Aperio Group Inc Ltd Liability holds 0% of its portfolio in Cypress Semiconductor Corporation (NASDAQ:CY) for 53,324 shares. Capital Advisers Llc stated it has 18,365 shares or 0% of all its holdings. Kanaly Tru reported 502 shares or 0% of all its holdings. California Public Employees Retirement holds 1.27M shares. Louisiana State Employees Retirement System owns 79,400 shares or 0.05% of their US portfolio. Principal Fin Grp Inc invested 0.02% in Cypress Semiconductor Corporation (NASDAQ:CY). Wells Fargo Mn owns 2.34 million shares or 0.01% of their US portfolio. 8.61 million were reported by State Street. Qs Ltd Llc accumulated 0% or 30 shares. Bnp Paribas Arbitrage Sa stated it has 165,134 shares. Teachers Retirement System Of The State Of Kentucky owns 66,400 shares or 0.01% of their US portfolio. Essex Inv Mgmt Llc invested in 0.08% or 40,583 shares. Colorado-based Janus Capital Mngmt Limited Liability has invested 0% in Cypress Semiconductor Corporation (NASDAQ:CY). Tci Wealth Advsrs Incorporated has invested 0% in Cypress Semiconductor Corporation (NASDAQ:CY).

Since March 12, 2017, it had 0 insider purchases, and 3 selling transactions for $813,603 activity. 1,094 Cypress Semiconductor Corporation (NASDAQ:CY) shares with value of $15,064 were sold by KWON OC. Shares for $709,075 were sold by BENHAMOU ERIC on Monday, March 20.

The stock of Cypress Semiconductor Corporation (CY) formed an ascending triangle with $13.44 target or 6.00 % below today’s $14.30 share price. The 5 months triangle pattern indicates high risk for the $4.76 billion company. If the $13.44 price target is reached, the company will be worth $285.60 million less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

About 3.44 million shares traded. Cypress Semiconductor Corporation (NASDAQ:CY) has risen 39.45% since July 17, 2016 and is uptrending. It has outperformed by 22.75% the S&P500.

Investors wait Cypress Semiconductor Corporation (NASDAQ:CY) to report on July, 27. its quarterly earnings Wall Street analysts expect $0.08 earnings per share, $0.00 or 0.00 % from last year’s $0.08 same quarter earnings. This translates into $26.67M profit for CY giving the stock a 44.63 P/E. This is assuming the current $0.08 EPS is accurate. Cypress Semiconductor Corporation’s Wall Street analysts see 0.00 % EPS growth, taking into account the $0.08 EPS reproted in the previous quarter,

Cypress Semiconductor Corporation (NASDAQ:CY) Ratings Coverage

Among 19 analysts covering Cypress Semiconductor Corporation (NASDAQ:CY), 13 have Buy rating, 1 Sell and 5 Hold. Therefore 68% are positive. Cypress Semiconductor Corporation had 43 analyst reports since August 31, 2015 according to SRatingsIntel. The firm has “Neutral” rating given on Thursday, January 14 by SunTrust. Pacific Crest maintained the stock with “Overweight” rating in Wednesday, March 29 report. The company was initiated on Thursday, January 14 by Suntrust Robinson. The company was maintained on Friday, October 9 by Topeka Capital Markets. As per Friday, April 29, the company rating was maintained by Craig Hallum. As per Friday, January 29, the company rating was maintained by Oppenheimer. The firm earned “Equal-Weight” rating on Monday, July 18 by Morgan Stanley. The stock has “Outperform” rating by Oppenheimer on Tuesday, December 15. The stock has “Buy” rating by Loop Capital on Friday, December 16. The stock has “Buy” rating by Mizuho on Thursday, June 22.

More notable recent Cypress Semiconductor Corporation (NASDAQ:CY) news were published by: Seekingalpha.com which released: “Cypress 3.0 Still On Track” on June 27, 2017, also Prnewswire.com with their article: “Cypress Announces Settlement Agreement with TJ Rodgers” published on July 05, 2017, Prnewswire.com published: “Cypress Semiconductor Stockholders Elect Both CypressFirst Nominees To Cypress …” on June 20, 2017. More interesting news about Cypress Semiconductor Corporation (NASDAQ:CY) were released by: Seekingalpha.com and their article: “Cypress Semi and Arrow Electronics announce IoT development platform” published on June 29, 2017 as well as Nasdaq.com‘s news article titled: “Cypress Semiconductor Corporation (CY) Ex-Dividend Date Scheduled for June 27 …” with publication date: June 26, 2017.

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