MARSHALL WACE ASIA Ltd Acquires New Position in Synopsys, Inc. (NASDAQ:SNPS)

MARSHALL WACE ASIA Ltd acquired a new position in Synopsys, Inc. (NASDAQ:SNPS) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 355,767 shares of the semiconductor company’s stock, valued at approximately $40,967,000.

Several other institutional investors also recently modified their holdings of the company. Tiemann Investment Advisors LLC bought a new position in Synopsys during the first quarter valued at $246,000. Marshall Wace North America L.P. lifted its position in shares of Synopsys by 2,163.3% during the first quarter. Marshall Wace North America L.P. now owns 546,217 shares of the semiconductor company’s stock worth $62,897,000 after acquiring an additional 522,083 shares in the last quarter. Summit Global Investments lifted its position in shares of Synopsys by 24.0% during the first quarter. Summit Global Investments now owns 119,361 shares of the semiconductor company’s stock worth $13,744,000 after acquiring an additional 23,121 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Synopsys by 35.0% during the first quarter. Fifth Third Bancorp now owns 82,740 shares of the semiconductor company’s stock worth $9,528,000 after acquiring an additional 21,444 shares in the last quarter. Finally, Fort L.P. lifted its position in shares of Synopsys by 32.2% during the first quarter. Fort L.P. now owns 23,954 shares of the semiconductor company’s stock worth $2,758,000 after acquiring an additional 5,838 shares in the last quarter. 91.89% of the stock is owned by hedge funds and other institutional investors.

Shares of SNPS stock traded down $1.76 on Friday, reaching $124.22. The company’s stock had a trading volume of 18,049 shares, compared to its average volume of 1,429,960. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.85 and a current ratio of 0.95. Synopsys, Inc. has a 12-month low of $79.14 and a 12-month high of $127.91. The company has a market capitalization of $19.00 billion, a PE ratio of 44.01, a price-to-earnings-growth ratio of 3.80 and a beta of 1.26.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.04. Synopsys had a return on equity of 16.88% and a net margin of 18.74%. The company had revenue of $836.20 million for the quarter, compared to the consensus estimate of $829.41 million. During the same quarter last year, the business posted $1.08 earnings per share. The firm’s revenue was up 7.6% compared to the same quarter last year. On average, sell-side analysts forecast that Synopsys, Inc. will post 3.03 EPS for the current fiscal year.

In related news, Director Chrysostomos L. Nikias sold 1,050 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $117.36, for a total value of $123,228.00. Following the sale, the director now owns 22,881 shares in the company, valued at $2,685,314.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Sudhindra Kankanwadi sold 3,133 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $121.88, for a total value of $381,850.04. Following the completion of the sale, the vice president now owns 8,416 shares in the company, valued at approximately $1,025,742.08. The disclosure for this sale can be found here. Insiders sold 187,888 shares of company stock worth $22,055,444 in the last quarter. 1.84% of the stock is currently owned by company insiders.

Several equities research analysts have issued reports on SNPS shares. Bank of America restated an “average” rating on shares of Synopsys in a research report on Wednesday, June 5th. BidaskClub upgraded Synopsys from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Zacks Investment Research upgraded Synopsys from a “hold” rating to a “strong-buy” rating and set a $117.00 target price on the stock in a research report on Monday, February 25th. Needham & Company LLC restated a “buy” rating and set a $120.00 target price on shares of Synopsys in a research report on Wednesday, April 3rd. Finally, Royal Bank of Canada increased their target price on Synopsys from $130.00 to $140.00 and gave the stock a “top pick” rating in a research report on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $124.00.

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About Synopsys

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.

Further Reading: What is a Leveraged Buyout (LBO)?

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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