Ajo LP Sells 30,847 Shares of Synopsys, Inc. (NASDAQ:SNPS)


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Ajo LP trimmed its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 18.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,864 shares of the semiconductor company’s stock after selling 30,847 shares during the quarter. Ajo LP owned 0.09% of Synopsys worth $29,285,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SNPS. Nordea Investment Management AB boosted its position in shares of Synopsys by 115.1% during the second quarter. Nordea Investment Management AB now owns 1,426,042 shares of the semiconductor company’s stock worth $273,258,000 after purchasing an additional 762,921 shares in the last quarter. BlackRock Inc. boosted its position in shares of Synopsys by 5.6% during the second quarter. BlackRock Inc. now owns 12,846,847 shares of the semiconductor company’s stock worth $2,505,134,000 after purchasing an additional 685,575 shares in the last quarter. ARK Investment Management LLC boosted its position in shares of Synopsys by 568.2% during the third quarter. ARK Investment Management LLC now owns 631,126 shares of the semiconductor company’s stock worth $135,048,000 after purchasing an additional 536,678 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Synopsys by 79.2% during the second quarter. Victory Capital Management Inc. now owns 807,069 shares of the semiconductor company’s stock worth $157,379,000 after acquiring an additional 356,620 shares during the period. Finally, Nikko Asset Management Americas Inc. lifted its position in Synopsys by 1,259.2% in the 3rd quarter. Nikko Asset Management Americas Inc. now owns 291,452 shares of the semiconductor company’s stock valued at $61,700,000 after acquiring an additional 270,009 shares in the last quarter. 88.30% of the stock is currently owned by institutional investors.

In other news, insider John F. Runkel, Jr. sold 9,705 shares of the firm’s stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $216.00, for a total value of $2,096,280.00. Following the completion of the sale, the insider now directly owns 23,932 shares of the company’s stock, valued at $5,169,312. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John F. Runkel, Jr. sold 9,629 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $212.03, for a total value of $2,041,636.87. Following the completion of the sale, the insider now directly owns 27,135 shares of the company’s stock, valued at $5,753,434.05. The disclosure for this sale can be found here. Insiders have sold 29,370 shares of company stock valued at $6,435,358 over the last three months. Insiders own 1.84% of the company’s stock.

Several analysts have issued reports on SNPS shares. DA Davidson lifted their price target on Synopsys from $230.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, November 12th. They noted that the move was a valuation call. Needham & Company LLC upped their price objective on Synopsys from $175.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Robert W. Baird upped their price objective on Synopsys from $222.00 to $228.00 and gave the stock an “outperform” rating in a research report on Thursday, August 20th. Benchmark upped their price objective on Synopsys from $190.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Finally, BidaskClub raised Synopsys from a “hold” rating to a “buy” rating in a research report on Wednesday, October 14th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. Synopsys has a consensus rating of “Buy” and a consensus target price of $213.00.

Shares of NASDAQ SNPS opened at $218.51 on Friday. The stock has a 50 day moving average price of $223.78 and a 200 day moving average price of $200.29. Synopsys, Inc. has a 52 week low of $104.90 and a 52 week high of $246.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.99 and a current ratio of 1.06. The stock has a market capitalization of $33.16 billion, a PE ratio of 54.09, a price-to-earnings-growth ratio of 3.48 and a beta of 1.15.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, August 19th. The semiconductor company reported $1.74 EPS for the quarter, beating the consensus estimate of $1.34 by $0.40. Synopsys had a return on equity of 14.66% and a net margin of 17.88%. The firm had revenue of $964.10 million during the quarter, compared to analysts’ expectations of $894.23 million. During the same period in the prior year, the firm posted $1.18 earnings per share. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. As a group, research analysts forecast that Synopsys, Inc. will post 4.16 EPS for the current year.

About Synopsys

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It offers Fusion Design Platform, a digital design implementation solution; Verification Continuum Platform that 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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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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