BT Investment Management Ltd Invests $5.21 Million in Synopsys, Inc. (SNPS)

BT Investment Management Ltd acquired a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 71,413 shares of the semiconductor company’s stock, valued at approximately $5,208,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Sawtooth Solutions LLC lifted its position in Synopsys by 0.3% during the second quarter. Sawtooth Solutions LLC now owns 3,220 shares of the semiconductor company’s stock valued at $235,000 after purchasing an additional 9 shares during the last quarter. Alps Advisors Inc. lifted its position in Synopsys by 0.3% during the second quarter. Alps Advisors Inc. now owns 6,767 shares of the semiconductor company’s stock valued at $494,000 after purchasing an additional 18 shares during the last quarter. Ifrah Financial Services Inc. lifted its position in Synopsys by 1.2% during the second quarter. Ifrah Financial Services Inc. now owns 5,204 shares of the semiconductor company’s stock valued at $380,000 after purchasing an additional 62 shares during the last quarter. Cypress Wealth Advisors LLC lifted its position in Synopsys by 1.7% during the first quarter. Cypress Wealth Advisors LLC now owns 4,763 shares of the semiconductor company’s stock valued at $344,000 after purchasing an additional 81 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in Synopsys by 3.2% during the first quarter. Pacer Advisors Inc. now owns 2,861 shares of the semiconductor company’s stock valued at $206,000 after purchasing an additional 88 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Shares of Synopsys, Inc. (SNPS) traded down 0.51% during midday trading on Friday, hitting $79.80. 1,376,201 shares of the stock traded hands. Synopsys, Inc. has a 12-month low of $56.03 and a 12-month high of $80.70. The company’s 50 day moving average price is $78.22 and its 200-day moving average price is $74.52. The stock has a market cap of $11.99 billion, a price-to-earnings ratio of 37.46 and a beta of 0.99.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, August 16th. The semiconductor company reported $0.92 earnings per share for the quarter, meeting the consensus estimate of $0.92. The firm had revenue of $695.40 million for the quarter, compared to analysts’ expectations of $691.22 million. Synopsys had a net margin of 12.37% and a return on equity of 11.60%. The company’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 EPS. On average, equities research analysts expect that Synopsys, Inc. will post $3.31 EPS for the current year.

Synopsys declared that its Board of Directors has authorized a stock repurchase plan on Friday, June 16th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the semiconductor company to buy up to 4.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

In other news, CEO Chi-Foon Chan sold 3,750 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $77.50, for a total transaction of $290,625.00. Following the transaction, the chief executive officer now owns 200,429 shares of the company’s stock, valued at approximately $15,533,247.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Joseph W. Logan sold 5,000 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $76.99, for a total transaction of $384,950.00. Following the transaction, the executive vice president now directly owns 63,793 shares in the company, valued at approximately $4,911,423.07. The disclosure for this sale can be found here. Insiders own 1.82% of the company’s stock.

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Several equities analysts have commented on SNPS shares. Credit Suisse Group reiterated an “outperform” rating on shares of Synopsys in a research report on Thursday, August 31st. BidaskClub upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research lowered shares of Synopsys from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. HSBC Holdings plc reiterated an “average” rating on shares of Synopsys in a research report on Thursday. Finally, J P Morgan Chase & Co reiterated an “average” rating on shares of Synopsys in a research report on Friday, May 26th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $83.38.

Synopsys Profile

Synopsys, Inc provides software, intellectual property (IP) and services. The Company supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits, also known as chips. It also offers IP products, which are pre-designed circuits that engineers use as components of larger chip designs rather than designing those circuits themselves.

Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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