AMP Capital Investors Ltd decreased its position in Synopsys, Inc. (NASDAQ:SNPS) by 20.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 89,390 shares of the semiconductor company’s stock after selling 22,535 shares during the period. AMP Capital Investors Ltd owned approximately 0.06% of Synopsys worth $7,648,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wells Fargo & Company MN boosted its holdings in shares of Synopsys by 39.3% in the first quarter. Wells Fargo & Company MN now owns 1,003,682 shares of the semiconductor company’s stock valued at $83,547,000 after acquiring an additional 283,195 shares in the last quarter. Mackay Shields LLC bought a new position in shares of Synopsys in the first quarter valued at approximately $2,361,000. Trexquant Investment LP bought a new position in shares of Synopsys in the first quarter valued at approximately $340,000. Schwab Charles Investment Management Inc. boosted its holdings in shares of Synopsys by 4.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 842,374 shares of the semiconductor company’s stock valued at $70,120,000 after acquiring an additional 32,525 shares in the last quarter. Finally, American International Group Inc. boosted its holdings in shares of Synopsys by 3.2% in the first quarter. American International Group Inc. now owns 60,197 shares of the semiconductor company’s stock valued at $5,011,000 after acquiring an additional 1,891 shares in the last quarter. Hedge funds and other institutional investors own 88.62% of the company’s stock.
SNPS stock opened at $102.81 on Friday. Synopsys, Inc. has a 12 month low of $78.73 and a 12 month high of $103.00. The company has a market cap of $15.22 billion, a P/E ratio of 116.83, a price-to-earnings-growth ratio of 6.52 and a beta of 1.17. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.04.
Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, August 22nd. The semiconductor company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.92 by $0.03. Synopsys had a net margin of 1.92% and a return on equity of 5.52%. The business had revenue of $779.70 million during the quarter, compared to analyst estimates of $773.61 million. During the same period in the prior year, the business earned $0.92 earnings per share. The business’s quarterly revenue was up 12.1% on a year-over-year basis. equities analysts predict that Synopsys, Inc. will post 1.57 earnings per share for the current fiscal year.
Several research analysts have recently issued reports on SNPS shares. KeyCorp increased their price objective on shares of Synopsys from $110.00 to $112.00 and gave the company an “overweight” rating in a report on Thursday, May 24th. Credit Suisse Group increased their price objective on shares of Synopsys from $100.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday, May 24th. Zacks Investment Research cut shares of Synopsys from a “buy” rating to a “hold” rating in a report on Wednesday, May 23rd. BidaskClub upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. Finally, DA Davidson increased their price objective on shares of Synopsys to $110.00 and gave the company a “buy” rating in a report on Thursday, August 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $106.14.
In related news, EVP Joseph W. Logan sold 20,000 shares of the stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $101.43, for a total transaction of $2,028,600.00. Following the completion of the sale, the executive vice president now directly owns 88,271 shares of the company’s stock, valued at $8,953,327.53. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel John F. Runkel, Jr. sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $102.00, for a total transaction of $1,020,000.00. Following the sale, the general counsel now directly owns 22,322 shares of the company’s stock, valued at $2,276,844. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,609 shares of company stock valued at $3,416,177. Company insiders own 1.84% of the company’s stock.
Synopsys Company Profile
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.
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