market folly

Matthew Sidman's hedge fund Three Bays Capital has filed a 13D with the SEC regarding shares of Cypress Semiconductor (CY).  Per the filing, Three Bays now owns 7.1% of the company with over 22.46 million shares.

This is an increase over the 15.8 million shares Three Bays owned at the end of 2015.  The filing was made due to activity on March 3rd.  The 13D contains the standard boilerplate noting that they've met with management.

Prior to founding Three Bays in 2013, Sidman worked at Highfields Capital.

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.."