Cerity Partners LLC Increases Stock Position in Synopsys, Inc. $SNPS

Cerity Partners LLC grew its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 17.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 61,260 shares of the semiconductor company’s stock after purchasing an additional 9,092 shares during the quarter. Cerity Partners LLC’s holdings in Synopsys were worth $31,407,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in SNPS. Vanguard Group Inc. grew its stake in Synopsys by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 15,060,784 shares of the semiconductor company’s stock worth $7,721,363,000 after buying an additional 231,014 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Synopsys by 1.5% in the second quarter. Geode Capital Management LLC now owns 3,545,892 shares of the semiconductor company’s stock valued at $1,810,214,000 after acquiring an additional 51,043 shares during the period. Ameriprise Financial Inc. grew its position in shares of Synopsys by 6.6% during the first quarter. Ameriprise Financial Inc. now owns 2,013,380 shares of the semiconductor company’s stock worth $863,500,000 after acquiring an additional 125,199 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Synopsys by 20.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,816,319 shares of the semiconductor company’s stock valued at $778,928,000 after acquiring an additional 305,489 shares during the period. Finally, Alliancebernstein L.P. raised its position in Synopsys by 22.2% in the 1st quarter. Alliancebernstein L.P. now owns 1,725,211 shares of the semiconductor company’s stock valued at $739,857,000 after purchasing an additional 313,218 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SNPS has been the topic of several research reports. KeyCorp lowered their price objective on shares of Synopsys from $590.00 to $575.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 3rd. Zacks Research upgraded Synopsys from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. The Goldman Sachs Group decreased their price objective on Synopsys from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Wednesday, September 10th. BNP Paribas started coverage on Synopsys in a research note on Thursday, October 2nd. They issued an “underperform” rating and a $425.00 target price on the stock. Finally, Needham & Company LLC cut their price target on Synopsys from $660.00 to $550.00 and set a “buy” rating for the company in a research note on Wednesday, September 10th. Ten equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $553.67.

Synopsys Price Performance

Shares of NASDAQ SNPS opened at $465.75 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.51 and a current ratio of 1.62. Synopsys, Inc. has a one year low of $365.74 and a one year high of $651.73. The company’s fifty day moving average is $436.72 and its two-hundred day moving average is $505.11. The firm has a market capitalization of $86.51 billion, a P/E ratio of 36.56, a PEG ratio of 5.35 and a beta of 1.16.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Tuesday, September 9th. The semiconductor company reported $2.30 EPS for the quarter, missing analysts’ consensus estimates of $3.75 by ($1.45). Synopsys had a return on equity of 10.82% and a net margin of 31.04%.The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the firm posted $3.43 EPS. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. Analysts forecast that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert G. Painter acquired 350 shares of Synopsys stock in a transaction that occurred on Thursday, September 11th. The stock was purchased at an average cost of $425.44 per share, with a total value of $148,904.00. Following the completion of the acquisition, the director owned 2,291 shares in the company, valued at $974,683.04. This trade represents a 18.03% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Sudhindra Kankanwadi sold 9,873 shares of the business’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $500.90, for a total value of $4,945,385.70. Following the sale, the chief accounting officer owned 20,520 shares in the company, valued at approximately $10,278,468. The trade was a 32.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.62% of the stock is currently owned by company insiders.

About Synopsys

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers 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.