Price movement of Cypress
Cypress Semiconductors (CY) has a market capitalization of $3.4 billion. It rose by 10.5% to close at $10.55 per share on June 30, 2016. The stock’s weekly, monthly, and trailing-12-month price movements were -0.6%, -0.8%, and -9.2%, respectively, on the same day.
Cypress is trading 1.7% above its 20-day moving average, 7.5% above its 50-day moving average, and 17.7% above its 100-day moving average.
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Cypress rises on high volume of shares traded
Shares of Cypress Semiconductors have been volatile in 2016. Last week, shares of the company fell by over 11% due to the Brexit news. The number of shares traded for the company touched over 27 million on June 30. In comparison, the previous day’s volume of shares traded stood at 9 million, and the five-day average volume was 12 million shares.
Earlier this year, shares of Cypress fell as it provided weak guidance for 1Q16. In March 2015, the company merged with Spansion in an all-stock deal worth $5 billion to grow in the automotive space. In April 2016, Cypress agreed to acquire Broadcom’s (AVGO) Internet of Things business in an all-cash deal worth $550 million.
With these mergers and acquisitions, Cypress aims to provide a complete embedded solution of memory, wireless connectivity, and microcontrollers, as is shown in the above chart.