Legal & General Group Plc boosted its position in Synopsys, Inc. (NASDAQ:SNPS) by 5.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,307,721 shares of the semiconductor company’s stock after buying an additional 63,294 shares during the quarter. Legal & General Group Plc’s holdings in Synopsys were worth $168,435,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Parnassus Investments CA increased its holdings in Synopsys by 0.7% in the first quarter. Parnassus Investments CA now owns 3,798,353 shares of the semiconductor company’s stock valued at $489,190,000 after buying an additional 26,504 shares during the last quarter. Pictet Asset Management Ltd. boosted its stake in Synopsys by 14.2% in the first quarter. Pictet Asset Management Ltd. now owns 3,358,998 shares of the semiconductor company’s stock valued at $432,606,000 after acquiring an additional 418,237 shares during the period. Geode Capital Management LLC boosted its stake in Synopsys by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 2,766,857 shares of the semiconductor company’s stock valued at $384,483,000 after acquiring an additional 91,215 shares during the period. Franklin Resources Inc. boosted its stake in Synopsys by 31.7% in the first quarter. Franklin Resources Inc. now owns 2,670,356 shares of the semiconductor company’s stock valued at $343,914,000 after acquiring an additional 643,506 shares during the period. Finally, Nuveen Asset Management LLC boosted its stake in Synopsys by 11.8% in the first quarter. Nuveen Asset Management LLC now owns 1,800,432 shares of the semiconductor company’s stock valued at $231,877,000 after acquiring an additional 189,612 shares during the period. 88.89% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have commented on the company. BidaskClub downgraded Synopsys from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 6th. UBS Group assumed coverage on Synopsys in a research note on Wednesday, May 27th. They issued a “buy” rating and a $209.00 target price for the company. Needham & Company LLC restated a “buy” rating and issued a $175.00 target price on shares of Synopsys in a research note on Thursday, April 9th. Zacks Investment Research downgraded Synopsys from a “buy” rating to a “hold” rating and set a $134.00 price objective for the company. in a research report on Friday, March 27th. Finally, KeyCorp boosted their price objective on Synopsys from $175.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 21st. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Synopsys currently has an average rating of “Buy” and an average target price of $183.64.
In other Synopsys news, Director Bruce R. Chizen sold 25,000 shares of the company’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $153.63, for a total value of $3,840,750.00. Following the transaction, the director now owns 13,165 shares of the company’s stock, valued at $2,022,538.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Trac Pham sold 33,758 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $170.52, for a total value of $5,756,414.16. Following the completion of the transaction, the chief financial officer now directly owns 33,783 shares in the company, valued at approximately $5,760,677.16. The disclosure for this sale can be found here. Insiders sold 117,340 shares of company stock worth $19,270,214 in the last ninety days. 1.87% of the stock is owned by corporate insiders.
SNPS traded down $7.39 during trading on Thursday, reaching $182.03. The stock had a trading volume of 32,822 shares, compared to its average volume of 1,260,311. The firm has a market capitalization of $27.95 billion, a price-to-earnings ratio of 59.22, a price-to-earnings-growth ratio of 3.22 and a beta of 1.17. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.13. Synopsys, Inc. has a 1-year low of $104.90 and a 1-year high of $192.38. The stock has a 50 day moving average of $164.71 and a two-hundred day moving average of $146.81.
Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, May 20th. The semiconductor company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.23. The firm had revenue of $861.33 million during the quarter, compared to the consensus estimate of $836.52 million. Synopsys had a return on equity of 11.53% and a net margin of 13.96%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.16 earnings per share. On average, research analysts forecast that Synopsys, Inc. will post 3.75 EPS for the current fiscal 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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