Is Cypress Semiconductor Corporation (CY) A Good Stock To Buy?

Judging by the fact that Cypress Semiconductor Corporation (NASDAQ:CY) has faced falling interest from the entirety of the hedge funds we track, it’s easy to see that there exists a select few hedgies that slashed their positions entirely in the third quarter. Interestingly, Leon Shaulov’s Maplelane Capital dropped the largest position of all the hedgies followed by Insider Monkey, comprising about $26.5 million in stock. Alec Litowitz and Ross Laser’s fund, Magnetar Capital, also said goodbye to its holding, about $20.1 million worth of CY shares. These transactions are important to note, as total hedge fund interest dropped by 3 funds in the third quarter.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Cypress Semiconductor Corporation (NASDAQ:CY) but similarly valued. These stocks are Outfront Media Inc (NYSE:OUT), Oshkosh Corporation (NYSE:OSK), UIL Holdings Corporation (NYSE:UIL), and CAE, Inc. (USA) (NYSE:CAE). This group of stocks’ market valuations are closest to CY’s market valuation.

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $177 million. That figure was an impressive $650 million in CY’s case. Oshkosh Corporation (NYSE:OSK) is the most popular stock in this table. On the other hand CAE, Inc. (USA) (NYSE:CAE) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks Cypress Semiconductor Corporation (NASDAQ:CY) is more popular among hedge funds and has also attracted a larger amount of hedge funds’ capital. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.