JPMorgan Chase & Co. Boosts Holdings in Synopsys, Inc. (SNPS)

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JPMorgan Chase & Co. raised its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 40.3% during the first quarter, HoldingsChannel.com reports. The firm owned 5,273,032 shares of the semiconductor company’s stock after purchasing an additional 1,513,575 shares during the period. JPMorgan Chase & Co.’s holdings in Synopsys were worth $607,189,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Flagship Harbor Advisors LLC grew its position in shares of Synopsys by 78.7% in the 1st quarter. Flagship Harbor Advisors LLC now owns 227 shares of the semiconductor company’s stock worth $26,000 after buying an additional 100 shares during the last quarter. Tompkins Financial Corp grew its position in shares of Synopsys by 63.7% in the 1st quarter. Tompkins Financial Corp now owns 280 shares of the semiconductor company’s stock worth $28,000 after buying an additional 109 shares during the last quarter. Trust Co. of Vermont purchased a new position in shares of Synopsys in the 4th quarter worth approximately $29,000. Executive Wealth Management LLC purchased a new position in shares of Synopsys in the 4th quarter worth approximately $29,000. Finally, Legacy Financial Advisors Inc. grew its position in shares of Synopsys by 4,987.5% in the 4th quarter. Legacy Financial Advisors Inc. now owns 407 shares of the semiconductor company’s stock worth $34,000 after buying an additional 399 shares during the last quarter. 91.17% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:SNPS opened at $121.39 on Friday. The company has a market cap of $18.17 billion, a price-to-earnings ratio of 43.05, a P/E/G ratio of 3.83 and a beta of 1.30. Synopsys, Inc. has a twelve month low of $79.14 and a twelve month high of $124.12. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.03.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, February 20th. The semiconductor company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.51. The company had revenue of $820.40 million for the quarter, compared to the consensus estimate of $796.30 million. Synopsys had a net margin of 18.59% and a return on equity of 17.23%. Synopsys’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.10 EPS. On average, equities research analysts expect that Synopsys, Inc. will post 3.17 earnings per share for the current year.

In other Synopsys news, Director John Schwarz sold 10,000 shares of Synopsys stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $117.61, for a total transaction of $1,176,100.00. Following the completion of the sale, the director now directly owns 16,491 shares in the company, valued at approximately $1,939,506.51. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Chi-Foon Chan sold 85,105 shares of Synopsys stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $102.20, for a total transaction of $8,697,731.00. Following the sale, the chief executive officer now owns 294,218 shares of the company’s stock, valued at $30,069,079.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 142,190 shares of company stock worth $14,729,218. 1.84% of the stock is owned by insiders.

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of Synopsys from $130.00 to $140.00 and gave the stock a “top pick” rating in a research report on Thursday, April 11th. Wells Fargo & Co assumed coverage on shares of Synopsys in a research report on Tuesday, May 14th. They issued an “outperform” rating and a $135.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Synopsys in a research report on Wednesday, April 3rd. DA Davidson lifted their price objective on shares of Synopsys to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Finally, KeyCorp initiated coverage on shares of Synopsys in a research report on Wednesday, April 10th. They set an “overweight” rating and a $135.00 target price on the stock. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $121.10.

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Synopsys Company Profile

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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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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