Three Bays Capital Increases Cypress Semiconductor Stake ~ market folly

Tuesday, June 30, 2015

Three Bays Capital Increases Cypress Semiconductor Stake

Matthew Sidman's hedge fund firm Three Bays Capital has filed a 13G with the SEC regarding shares of Cypress Semiconductor (CY).  Per the filing, Three Bays now owns 5.6% of the company with 18.49 million shares.

This is a sizable increase over the 8.2 million shares the fund owned at the end of the first quarter.  The filing was made due to activity on June 17th.  Since the end of Q1, shares of CY have traded down from $14 to current levels of around $11.56, prompting Three Bays to add to its stake.

About Three Bays Capital

This is the first time this hedge fund has been mentioned on the site.  Sidman founded Three Bays after previously working at Highfields Capital.  It launched with around $500 million in 2013 but its latest 13F filing shows US assets of $2.37 billion as of the end of Q1 2015.

About Cypress Semiconductor

Per Google Finance, Cypress Semiconductor is "a provider of mixed-signal programmable solutions. The Company's offerings include PSoC 1, PSoC 3, PSoC 4 and PSoC 5LP programmable system-on-chip families. It caters to markets, including industrial, mobile handsets, consumer, computation, data communications, automotive and military. The Company operates in four segments: Programmable Systems Division, Memory Products Division, Data Communications Division and Emerging Technologies Division. The Programmable Solutions Division designs and develops solutions for end-product manufacturers. The Memory Products Division designs and manufactures SRAM products and non-volatile RAMs (random access memories). The Data Communications Division focuses on solutions for industrial, handset and consumer applications. The Emerging Technologies Division consists of the Company's subsidiaries, AgigA Tech, Inc. and Deca Technologies, Inc."

blog comments powered by Disqus