market folly

George Soros' family office Soros Fund Management has filed a 13G with the SEC regarding shares of Cypress Semiconductor (CY).  Per the filing, Soros now owns 5.32% of the company with over 17.66 million shares.

This is an increase in their position size as they previously owned 13.2 million shares at the end of the first quarter.  The filing was made due to activity on June 29th.

We recently detailed other portfolio activity from Soros Fund here as well.

Per Google Finance, Cypress Semi 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."