Ameriprise Financial Inc. Increases Position in Synopsys, Inc. (NASDAQ:SNPS)

Ameriprise Financial Inc. increased its position in Synopsys, Inc. (NASDAQ:SNPS) by 0.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,281,896 shares of the semiconductor company’s stock after acquiring an additional 4,226 shares during the period. Ameriprise Financial Inc. owned approximately 2.85% of Synopsys worth $344,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of SNPS. Capstone Asset Management Co. raised its stake in Synopsys by 4.3% in the 2nd quarter. Capstone Asset Management Co. now owns 9,435 shares of the semiconductor company’s stock worth $688,000 after acquiring an additional 390 shares during the last quarter. LS Investment Advisors LLC grew its position in Synopsys by 3.2% during the 2nd quarter. LS Investment Advisors LLC now owns 7,461 shares of the semiconductor company’s stock worth $544,000 after purchasing an additional 232 shares during the period. Louisiana State Employees Retirement System grew its position in Synopsys by 1.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 9,300 shares of the semiconductor company’s stock worth $678,000 after purchasing an additional 100 shares during the period. Aperio Group LLC grew its position in Synopsys by 16.1% during the 2nd quarter. Aperio Group LLC now owns 126,696 shares of the semiconductor company’s stock worth $9,240,000 after purchasing an additional 17,587 shares during the period. Finally, First Citizens Bank & Trust Co. grew its position in Synopsys by 306.3% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 25,700 shares of the semiconductor company’s stock worth $1,874,000 after purchasing an additional 19,375 shares during the period. Institutional investors own 89.94% of the company’s stock.

In related news, CEO Chi-Foon Chan sold 3,750 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $89.78, for a total transaction of $336,675.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Chrysostomos L. Nikias sold 21,074 shares of the business’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $89.78, for a total transaction of $1,892,023.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,824 shares of company stock valued at $2,680,349. Insiders own 1.82% of the company’s stock.

A number of research firms have recently commented on SNPS. Credit Suisse Group restated an “outperform” rating on shares of Synopsys in a research report on Thursday, August 31st. TheStreet cut Synopsys from an “a” rating to a “c+” rating in a research report on Wednesday, November 29th. Zacks Investment Research upgraded Synopsys from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a report on Tuesday, October 3rd. Needham & Company LLC raised their target price on shares of Synopsys from $83.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, December 1st. Finally, J P Morgan Chase & Co reissued an “average” rating on shares of Synopsys in a research note on Thursday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $98.13.

Synopsys, Inc. (SNPS) traded up $1.68 during trading on Thursday, reaching $90.33. 1,436,081 shares of the company 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 company has a debt-to-equity ratio of 0.04, a current ratio of 1.04 and a quick ratio of 1.07. The firm has a market cap of $13,139.87, a P/E ratio of 71.59, a PEG ratio of 4.15 and a beta of 1.01.

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

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Synopsys Company 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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