Bank of Montreal Can lowered its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 40.7% in the first quarter, Holdings Channel reports. The fund owned 70,757 shares of the semiconductor company’s stock after selling 48,531 shares during the quarter. Bank of Montreal Can’s holdings in Synopsys were worth $8,147,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in SNPS. Flagship Harbor Advisors LLC raised its holdings in shares of Synopsys by 78.7% during the first quarter. Flagship Harbor Advisors LLC now owns 227 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 100 shares during the last quarter. Tompkins Financial Corp raised its holdings in shares of Synopsys by 63.7% during the first quarter. Tompkins Financial Corp now owns 280 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 109 shares during the last quarter. Trust Co. of Vermont acquired a new position in shares of Synopsys during the fourth quarter valued at approximately $29,000. Executive Wealth Management LLC acquired a new position in shares of Synopsys during the fourth quarter valued at approximately $29,000. Finally, Legacy Financial Advisors Inc. raised its holdings in shares of Synopsys by 4,987.5% during the fourth quarter. Legacy Financial Advisors Inc. now owns 407 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 399 shares during the last quarter. 90.09% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently commented on the company. DA Davidson increased their price target on Synopsys to $135.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. BidaskClub raised Synopsys from a “sell” rating to a “hold” rating in a report on Tuesday, January 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $120.00 price target (up previously from $115.00) on shares of Synopsys in a report on Thursday, March 28th. KeyCorp assumed coverage on Synopsys in a report on Wednesday, April 10th. They issued an “overweight” rating and a $135.00 price target for the company. Finally, Royal Bank of Canada increased their price target on Synopsys from $130.00 to $140.00 and gave the company a “top pick” rating in a report on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company’s stock. Synopsys has a consensus rating of “Buy” and an average price target of $119.56.
In related news, CFO Trac Pham sold 8,365 shares of the stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $103.00, for a total value of $861,595.00. Following the completion of the transaction, the chief financial officer now directly owns 37,167 shares in the company, valued at $3,828,201. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel John F. Runkel, Jr. sold 10,000 shares of the stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $101.71, for a total value of $1,017,100.00. Following the completion of the transaction, the general counsel now owns 21,071 shares of the company’s stock, valued at $2,143,131.41. The disclosure for this sale can be found here. In the last ninety days, insiders sold 142,190 shares of company stock valued at $14,729,218. Insiders own 1.84% of the company’s stock.
NASDAQ:SNPS opened at $119.36 on Thursday. Synopsys, Inc. has a one year low of $79.14 and a one year high of $122.36. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $17.83 billion, a P/E ratio of 42.33, a P/E/G ratio of 3.89 and a beta of 1.30.
Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, February 20th. The semiconductor company reported $1.08 EPS for the quarter, beating the consensus estimate of $0.57 by $0.51. Synopsys had a return on equity of 17.23% and a net margin of 18.59%. The firm had revenue of $820.40 million during the quarter, compared to analysts’ expectations of $796.30 million. During the same quarter last year, the firm earned $1.10 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, equities research analysts anticipate that Synopsys, Inc. will post 3.13 earnings per share for the current year.
Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits (ICs). It offers Fusion Design Platform, a digital design implementation solution; Verification Continuum Platform, which provides virtual prototyping, static and formal verification, simulation, emulation, field-programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.
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