Penserra Capital Management LLC grew its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 288.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,994 shares of the semiconductor company’s stock after buying an additional 17,069 shares during the quarter. Penserra Capital Management LLC’s holdings in Synopsys were worth $2,266,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in SNPS. Fort L.P. acquired a new stake in shares of Synopsys during the 2nd quarter worth about $117,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Synopsys during the 2nd quarter worth about $149,000. IFP Advisors Inc increased its position in shares of Synopsys by 264.0% during the 3rd quarter. IFP Advisors Inc now owns 2,042 shares of the semiconductor company’s stock worth $201,000 after purchasing an additional 1,481 shares in the last quarter. Advisor Partners LLC acquired a new stake in shares of Synopsys during the 2nd quarter worth about $205,000. Finally, Checchi Capital Advisers LLC acquired a new stake in shares of Synopsys during the 2nd quarter worth about $205,000. Institutional investors own 87.32% of the company’s stock.
In other Synopsys news, General Counsel John F. Runkel, Jr. sold 10,000 shares of the stock in a transaction dated 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 owns 22,322 shares of the company’s stock, valued at approximately $2,276,844. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Chi-Foon Chan sold 3,609 shares of the stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $101.85, for a total transaction of $367,576.65. Following the sale, the chief executive officer now directly owns 202,135 shares in the company, valued at approximately $20,587,449.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,609 shares of company stock worth $3,416,177. Insiders own 1.84% of the company’s stock.
Shares of Synopsys stock opened at $93.35 on Friday. The stock has a market cap of $13.85 billion, a P/E ratio of 82.50, a PEG ratio of 3.67 and a beta of 1.27. 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, Inc. has a 12-month low of $80.13 and a 12-month high of $103.40.
Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 22nd. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $773.61 million. During the same quarter last year, the company posted $0.92 EPS. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, equities research analysts forecast that Synopsys, Inc. will post 1.57 EPS for the current fiscal year.
SNPS has been the subject of a number of recent analyst reports. BidaskClub upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research report on Tuesday, July 24th. JPMorgan Chase & Co. increased their target price on shares of Synopsys to $98.00 and gave the stock an “underweight” rating in a research report on Thursday, August 23rd. KeyCorp increased their target price on shares of Synopsys from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, August 23rd. Needham & Company LLC reiterated a “buy” rating and set a $105.00 target price (up previously from $100.00) on shares of Synopsys in a research report on Thursday, August 23rd. Finally, DA Davidson increased their target price on shares of Synopsys to $110.00 and gave the stock a “buy” rating in a research report on Thursday, August 23rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $107.00.
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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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