Cypress Semi (CY) Co-Founder Rodgers Buys Over One Million Shares In the Open Market
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After the close Friday, Cypress Semiconductor (NYSE: CY) Co-Founder/CEO Dr. T. J. Rodgers disclosed he purchased 1,102,000 shares of the common stock in the open market from 11/19-11/20 at prices from $3.00-$3.12.
The purchases brings Rodgers' direct stake to 6,997,979 shares. The aggregate number of shares of common stock of Cypress beneficially owned by Mr. Rodgers is 17,328,713 shares, or approximately 11% of the total shares of Cypress outstanding.
Shares of Cypress Semiconductor closed at $2.97 on Friday, near a 52-week low of $2.54. Cypress recently announced the spin-off of its Class B Common Stock of SunPower (Nasdaq: SPWRB). In mid-November, Cypress lowered its Q4 guidance, citing a deteriorating operating environment.
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