Nomura Asset Management Co. Ltd. increased its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 10.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,484 shares of the semiconductor company’s stock after acquiring an additional 2,351 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Synopsys were worth $2,121,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Robecosam AG boosted its holdings in Synopsys by 69.2% in the 4th quarter. Robecosam AG now owns 2,200 shares of the semiconductor company’s stock worth $188,000 after buying an additional 900 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in Synopsys in the 4th quarter worth approximately $216,000. Evergreen Capital Management LLC purchased a new stake in Synopsys in the 1st quarter worth approximately $224,000. Quantitative Investment Management LLC purchased a new stake in Synopsys in the 4th quarter worth approximately $247,000. Finally, Parametrica Management Ltd purchased a new stake in Synopsys in the 1st quarter worth approximately $265,000. 88.45% of the stock is owned by institutional investors and hedge funds.
In other news, General Counsel John F. Runkel, Jr. sold 9,802 shares of the business’s stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $90.00, for a total value of $882,180.00. Following the transaction, the general counsel now owns 22,373 shares of the company’s stock, valued at $2,013,570. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Chi-Foon Chan sold 42,831 shares of the business’s stock in a transaction on Friday, May 25th. The stock was sold at an average price of $88.08, for a total transaction of $3,772,554.48. Following the completion of the transaction, the chief executive officer now directly owns 248,575 shares in the company, valued at approximately $21,894,486. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,633 shares of company stock valued at $6,421,334. Company insiders own 1.84% of the company’s stock.
Several analysts have issued reports on the stock. KeyCorp reiterated an “overweight” rating and issued a $110.00 target price (up from $106.00) on shares of Synopsys in a research note on Thursday, February 22nd. TheStreet upgraded shares of Synopsys from a “c+” rating to a “b” rating in a research report on Wednesday, May 23rd. ValuEngine upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research report on Thursday, April 12th. BidaskClub raised shares of Synopsys from a “sell” rating to a “hold” rating in a report on Thursday, May 3rd. Finally, Zacks Investment Research lowered shares of Synopsys from a “buy” rating to a “hold” rating in a report on Wednesday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. Synopsys has an average rating of “Buy” and a consensus target price of $102.71.
Shares of Synopsys traded down $1.11, hitting $88.12, during mid-day trading on Friday, according to Marketbeat. 18,058 shares of the company traded hands, compared to its average volume of 868,995. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $13.46 billion, a price-to-earnings ratio of 101.40, a PEG ratio of 5.47 and a beta of 1.10. Synopsys, Inc. has a 1 year low of $71.94 and a 1 year high of $94.80.
Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, May 23rd. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.08. The company had revenue of $776.80 million during the quarter, compared to analyst estimates of $775.60 million. Synopsys had a net margin of 3.25% and a return on equity of 6.55%. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.88 earnings per share. analysts expect that Synopsys, Inc. will post 1.65 earnings per share for the current year.
Synopsys announced that its Board of Directors has authorized a stock buyback plan on Thursday, April 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 4.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
Synopsys, Inc provides electronic design automation (EDA) software products used to design and test integrated circuits (ICs). It offers Galaxy Design platform that offers IC design solutions; 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.
Receive News & Ratings for Synopsys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synopsys and related companies with MarketBeat.com's FREE daily email newsletter.