Is Cypress Semiconductor Corporation (NASDAQ:CY) a buy right now? The smart money is in a pessimistic mood. The number of long hedge fund bets went down by 1 recently.
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With these “truths” under our belt, let’s take a peek at the latest action surrounding Cypress Semiconductor Corporation (NASDAQ:CY).
How have hedgies been trading Cypress Semiconductor Corporation (NASDAQ:CY)?
In preparation for this year, a total of 16 of the hedge funds we track were bullish in this stock, a change of -6% from the previous quarter. With the smart money’s sentiment swirling, there exists an “upper tier” of key hedge fund managers who were increasing their holdings substantially.
According to our comprehensive database, PAR Capital Management, managed by Paul ReederáandáEdward Shapiro, holds the most valuable position in Cypress Semiconductor Corporation (NASDAQ:CY). PAR Capital Management has a $21 million position in the stock, comprising 0.9% of its 13F portfolio. On PAR Capital Management’s heels is AQR Capital Management, managed by Cliff Asness, which held a $8 million position; the fund has 0% of its 13F portfolio invested in the stock. Remaining hedge funds that hold long positions include Israel Englander’s Millennium Management, Mario Gabelli’s GAMCO Investors and D. E. Shaw’s D E Shaw.
Because Cypress Semiconductor Corporation (NASDAQ:CY) has experienced declining sentiment from hedge fund managers, logic holds that there is a sect of fund managers who sold off their entire stakes last quarter. It’s worth mentioning that SAC Subsidiary’s Sigma Capital Management said goodbye to the largest stake of the 450+ funds we track, totaling an estimated $6 million in stock.. Van Schreiber’s fund, Bennett Lawrence Management, also cut its stock, about $3 million worth. These moves are interesting, as aggregate hedge fund interest was cut by 1 funds last quarter.
What have insiders been doing with Cypress Semiconductor Corporation (NASDAQ:CY)?
Insider trading activity, especially when it’s bullish, is most useful when the company we’re looking at has seen transactions within the past half-year. Over the latest 180-day time frame, Cypress Semiconductor Corporation (NASDAQ:CY) has experienced 2 unique insiders buying, and 2 insider sales (see the details of insider trades here).
With the returns exhibited by the aforementioned research, everyday investors must always pay attention to hedge fund and insider trading sentiment, and Cypress Semiconductor Corporation (NASDAQ:CY) is no exception.
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