Billionaire George Soros’ Soros Fund Management Betting Big On These 5 Stocks For Q4

In Cypress Semiconductor Corporation (NASDAQ:CY), Soros reported a $168.79 million position that contained 19.81 million shares. As the stock of the $3.30 billion semiconductor company lost 26% in the third quarter, Soros acquired 3.94 million shares. Overall, shares of Cypress Semiconductor Corporation (NASDAQ:CY) are 31% in the red year-to-date and are trading at around 25-times forward earnings, which overvalues the stock in comparison with the S&P 500’s median forward P/E. Analysts expect Cypress to more than double its revenue this year. Last week, Moody’s assigned a B1 Corporate Family Rating and B1-PD Probability of Default rating to Cypress, which affects its $450 million revolving credit facility and $400 million term loan, which the company plans to use to buy back stock. Also last week, Mizuho reiterated its ‘Buy’ rating and $18 price target on the stock, which indicates nearly 50% upside potential. Israel Englander‘s Millennium Management is another shareholder of Cypress Semiconductor Corporation (NASDAQ:CY), owning 4.46 million shares as of September 30.

On the other hand, Soros trimmed its stake in Dow Chemical Co (NYSE:DOW) by 19% to 3.92 million shares worth $166.18 million during the third quarter. Dow Chemical Co (NYSE:DOW)’s stock has gained 13% so far this year and is trading at an earnings multiple of 13, which is lower than the average P/E ratios for both the industry and the S&P 500, and it sports a dividend yield of 3.56%. Earlier this month Dow Chemical announced plans to revamp its business, as it was under pressure from activist Dan Loeb of Third Point, who had urged the company to spin-off its specialty chemical business from its petrochemical business. Third Point held 23.50 million shares of Dow Chemical Co (NYSE:DOW) at the end of September. Moreover, Millennium Management added 33.92 million shares to its stake, reporting a position of 36.69 million shares in its latest 13F (Millennium also reported holding ‘Put’ options underlying 31 million shares).

Facebook Inc (NASDAQ:FB)‘s stock inched up by 5% in the third quarter, while Soros unloaded 785,532 shares and cut its stake to 1.81 million shares worth $162.35 million. Facebook Inc (NASDAQ:FB)’s stock has appreciated by more than 30% so far this year and is expected to continue its upward momentum as the company continues to successfully monetize its mobile segment. Stephen Mandel, Stanley Druckenmiller and Leon Cooperman are three other billionaire investors that are bullish on Facebook Inc (NASDAQ:FB) for the current quarter.

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