Will Cypress Semiconductor’s Top Institutional Shareholders Sell More From the Delay?

For the year-to-date, Cypress Semiconductor Corporation’s (NASDAQ:CY) shares are down 26.97 percent. On Monday, the company extended for a third time, its deadline to purchase Ramtron International Corp.(NASDAQ:RMTR). It has now been pushed back to Aug. 24, from its previous Aug. 17 deadline; the number of tendered shares was not included.

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In June, Cypress increased its $95 million cash offer for Ramtron to shareholders after rejecting a previous bid. Ramtron said with the prior offer valued at $88 million, it was not representative of its intrinsic value. The most recent bid gave shareholders a $2.68 per share offer, a 20 cent increase from the previous one.

With a third offer on the table, further postponing a deal, will Cypress Semiconductor’s largest shareholders decrease their holdings? 297 institutional firms indicated owning shares of Cypress Semiconductor Corporation (NASDAQ:CY) in Q2 2012. These firms reported owning a total of 114.388 million shares on 06/30/2012. The shares closed at $13.22 on 06/30/2012.

Here are the ten largest positions in Cypress Semiconductor Corporation at the end of June 30th, 2012.

FMR LLC held 19,680,679 shares on 06/30/2012 worth $260,178,582. This brought the portfolio total to 0.05%.

Wellington Management Co LLP held 11,275,104 shares on 06/30/2012 worth $149,056,878. This brought the portfolio total to 0.06%.

Citadel Advisors LLC held 8,226,718 shares on 06/30/2012 worth $108,757,214. This brought the portfolio total to 0.4%.

Vanguard Group Inc held 7,537,331 shares on 06/30/2012 worth $99,643,518. This brought the portfolio total to 0.01%.

Eaton Vance Management held 4,723,940 shares on 06/30/2012 worth $62,450,488. This brought the portfolio total to 0.15%.

Blackrock Institutional Trust Company N.A. held 4,073,743 shares on 06/30/2012 worth $53,854,884. This brought the portfolio total to 0.01%.

State Street Corp held 3,793,497 shares on 06/30/2012 worth $50,150,031. This brought the portfolio total to 0.01%.

Blackrock Fund Advisors held 3,075,866 shares on 06/30/2012 worth $40,662,949. This brought the portfolio total to 0.02%.

Turner Investments L.P. held 2,745,191 shares on 06/30/2012 worth $36,291,426. This brought the portfolio total to 0.3%.

Renaissance Technologies LLC held 2,179,600 shares on 06/30/2012 worth $28,814,313. This brought the portfolio total to 0.09%.

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