National Pension Service raised its stake in Synopsys, Inc. (NASDAQ:SNPS) by 7.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 212,653 shares of the semiconductor company’s stock after acquiring an additional 15,027 shares during the period. National Pension Service’s holdings in Synopsys were worth $27,366,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in SNPS. Egerton Capital UK LLP increased its position in shares of Synopsys by 142.3% in the 1st quarter. Egerton Capital UK LLP now owns 2,199,485 shares of the semiconductor company’s stock worth $253,271,000 after purchasing an additional 1,291,643 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Synopsys by 18.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,228,559 shares of the semiconductor company’s stock valued at $782,432,000 after buying an additional 955,527 shares during the last quarter. BlackRock Inc. grew its position in shares of Synopsys by 4.5% during the 2nd quarter. BlackRock Inc. now owns 12,891,437 shares of the semiconductor company’s stock valued at $1,658,997,000 after buying an additional 554,602 shares during the last quarter. Marshall Wace North America L.P. grew its position in shares of Synopsys by 2,163.3% during the 1st quarter. Marshall Wace North America L.P. now owns 546,217 shares of the semiconductor company’s stock valued at $62,897,000 after buying an additional 522,083 shares during the last quarter. Finally, MARSHALL WACE ASIA Ltd bought a new stake in shares of Synopsys during the 1st quarter valued at about $40,967,000. 89.28% of the stock is owned by institutional investors.
SNPS has been the subject of a number of recent research reports. DA Davidson boosted their price objective on shares of Synopsys to $155.00 and gave the company a “positive” rating in a research report on Thursday, August 22nd. Needham & Company LLC boosted their price objective on shares of Synopsys from $125.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Wells Fargo & Co reaffirmed an “outperform” rating and set a $160.00 price objective (up previously from $150.00) on shares of Synopsys in a research report on Thursday, August 22nd. Bank of America reaffirmed an “average” rating on shares of Synopsys in a research report on Wednesday, June 5th. Finally, Zacks Investment Research raised shares of Synopsys from a “sell” rating to a “hold” rating and set a $142.00 price objective for the company in a research report on Monday, August 26th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Synopsys presently has a consensus rating of “Buy” and a consensus target price of $143.10.
In other news, VP Sudhindra Kankanwadi sold 8,011 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $144.30, for a total value of $1,155,987.30. Following the completion of the sale, the vice president now directly owns 8,663 shares of the company’s stock, valued at approximately $1,250,070.90. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven Walske sold 2,453 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $126.54, for a total transaction of $310,402.62. Following the completion of the sale, the director now directly owns 14,038 shares of the company’s stock, valued at $1,776,368.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,881 shares of company stock valued at $6,932,729. 1.84% of the stock is owned by insiders.
NASDAQ SNPS traded up $0.65 on Thursday, hitting $137.15. The stock had a trading volume of 43,662 shares, compared to its average volume of 1,218,105. Synopsys, Inc. has a one year low of $79.14 and a one year high of $146.66. The company has a quick ratio of 0.90, a current ratio of 0.99 and a debt-to-equity ratio of 0.03. The stock has a market cap of $20.02 billion, a price-to-earnings ratio of 48.70, a P/E/G ratio of 3.52 and a beta of 1.23. The company’s 50-day moving average is $134.69 and its two-hundred day moving average is $124.34.
Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.62 by $0.03. Synopsys had a net margin of 18.94% and a return on equity of 16.56%. The firm had revenue of $853.00 million during the quarter, compared to analysts’ expectations of $831.03 million. During the same quarter in the prior year, the firm earned $0.95 EPS. Synopsys’s quarterly revenue was up 9.5% on a year-over-year basis. On average, sell-side analysts anticipate that Synopsys, Inc. will post 3.15 earnings per share for the current 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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