Cypress Semiconductor Corp. (NASDAQ: CY) CFO, Brad W. Buss, recently bought 20,000 shares of CY common stock for $9.69 per share, according to a filing.
CY shares marginally lower in trading today. The stock is currently trading 0.94% lower at $10.02 on volume of 333,479. The stock hit an intra-day low of $9.92 in trading today.
Year-to-date, CY shares have fallen more than 40%, underperforming the broad market.
Cypress Semiconductor, which delivers high-performance, mixed-signal and programmable solutions, last week reported its third-quarter financial results. For the third quarter of 2012, CY reported revenue of $203.01 million, compared to $264.74 million reported for the same period in the previous year. The company’s non-GAAP gross margin for the quarter was 57.1% compared to 57.9% reported for the same period in the previous year. On a GAAP basis, the company’s gross margin for the quarter was 54.2%, compared to 56.3% reported for the same period in the previous year.
Non-GAAP net income for the quarter was $32.322 million, compared to $69.23 million reported for the same period in the previous year. The company’s GAAP net income for the quarter was $14.33 million, compared to $39.98 million reported for the same period in the previous year.
During the third quarter of 2012, the company shipped its one-billionth capacitive touch-sensing unit. The shipments include TrueTouch® touchscreen controllers, CapSense® controllers for mechanical button and slider replacement, and trackpad units for cursor navigation in laptop computers. In the third quarter, the company’s TrueTouch automotive touchscreen was selected by Tesla Motors for the infotainment system in the Model S, the world’s first premium electrically powered sedan.
During the third quarter, Cypress also unveiled the PSoC Creator™ 2.1 Integrated Design Environment (IDE) for its PSoC 3 and PSoC 5 programmable system on-chip families.
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