Synopsys, Inc. (SNPS) Holdings Cut by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lowered its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 476,264 shares of the semiconductor company’s stock after selling 13,227 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.32% of Synopsys worth $38,354,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SNPS. Sawtooth Solutions LLC grew its holdings in shares of Synopsys by 0.3% in the second quarter. Sawtooth Solutions LLC now owns 3,220 shares of the semiconductor company’s stock valued at $235,000 after acquiring an additional 9 shares in the last quarter. Alps Advisors Inc. raised its position in shares of Synopsys by 0.3% in the second quarter. Alps Advisors Inc. now owns 6,767 shares of the semiconductor company’s stock worth $494,000 after buying an additional 18 shares in the last quarter. YorkBridge Wealth Partners LLC raised its position in shares of Synopsys by 3.7% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,542 shares of the semiconductor company’s stock worth $111,000 after buying an additional 55 shares in the last quarter. Ifrah Financial Services Inc. raised 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 in the last quarter. Finally, Louisiana State Employees Retirement System raised its position in Synopsys by 1.1% during the second quarter. Louisiana State Employees Retirement System now owns 9,300 shares of the semiconductor company’s stock valued at $678,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Several research firms have weighed in on SNPS. J P Morgan Chase & Co reaffirmed an “average” rating on shares of Synopsys in a research report on Thursday. TheStreet downgraded shares of Synopsys from an “a” rating to a “c+” rating in a research report on Wednesday, November 29th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $120.00 target price on shares of Synopsys in a report on Thursday, November 30th. Needham & Company LLC upped their target price on shares of Synopsys from $83.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, November 30th. Finally, KeyCorp reissued an “overweight” rating and issued a $106.00 price objective (up from $86.00) on shares of Synopsys in a research report on Thursday, November 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $98.13.

Synopsys, Inc. (NASDAQ:SNPS) traded up $1.68 during trading hours on Thursday, reaching $90.33. 1,436,081 shares of the company’s stock traded hands, compared to its average volume of 1,060,614. Synopsys, Inc. has a 12 month low of $58.58 and a 12 month high of $94.80. The firm has a market cap of $13,139.87, a price-to-earnings ratio of 71.59, a price-to-earnings-growth ratio of 4.15 and a beta of 1.01. The company has a quick ratio of 1.07, a current ratio of 1.04 and a debt-to-equity ratio of 0.04.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, November 29th. The semiconductor company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.57 by $0.12. The company had revenue of $696.60 million during the quarter, compared to analysts’ expectations of $650.72 million. Synopsys had a net margin of 5.01% and a return on equity of 5.78%. The firm’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.77 EPS. sell-side analysts anticipate that Synopsys, Inc. will post 2.31 EPS for the current year.

In related news, Director Chrysostomos L. Nikias sold 21,074 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $89.78, for a total value of $1,892,023.72. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Joseph W. Logan sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $90.33, for a total transaction of $451,650.00. The disclosure for this sale can be found here. Insiders sold a total of 29,824 shares of company stock valued at $2,680,349 in the last quarter. Insiders own 1.82% of the company’s stock.

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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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