Earnest Partners LLC boosted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 6.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 651,087 shares of the semiconductor company’s stock after acquiring an additional 37,333 shares during the period. Earnest Partners LLC’s holdings in Synopsys were worth $83,788,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Steward Partners Investment Advisory LLC grew its holdings in Synopsys by 2.2% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 3,668 shares of the semiconductor company’s stock valued at $472,000 after buying an additional 78 shares in the last quarter. Greenleaf Trust grew its holdings in Synopsys by 1.9% in the 2nd quarter. Greenleaf Trust now owns 4,355 shares of the semiconductor company’s stock valued at $560,000 after buying an additional 80 shares in the last quarter. Sigma Investment Counselors Inc. grew its holdings in Synopsys by 0.3% in the 2nd quarter. Sigma Investment Counselors Inc. now owns 43,199 shares of the semiconductor company’s stock valued at $5,559,000 after buying an additional 127 shares in the last quarter. BB&T Securities LLC grew its holdings in Synopsys by 1.9% in the 2nd quarter. BB&T Securities LLC now owns 7,459 shares of the semiconductor company’s stock valued at $959,000 after buying an additional 139 shares in the last quarter. Finally, Advisor Partners LLC grew its holdings in Synopsys by 4.3% in the 2nd quarter. Advisor Partners LLC now owns 3,423 shares of the semiconductor company’s stock valued at $441,000 after buying an additional 141 shares in the last quarter. Institutional investors and hedge funds own 89.84% of the company’s stock.
A number of research analysts have commented on SNPS shares. Zacks Investment Research raised Synopsys from a “sell” rating to a “hold” rating and set a $142.00 price objective on the stock in a report on Monday, August 26th. Bank of America reaffirmed an “average” rating on shares of Synopsys in a report on Wednesday, June 5th. JPMorgan Chase & Co. upped their price objective on Synopsys from $138.00 to $157.00 and gave the company a “neutral” rating in a report on Wednesday. DA Davidson upped their price objective on Synopsys to $155.00 and gave the company a “positive” rating in a report on Thursday, August 22nd. Finally, BidaskClub lowered Synopsys from a “buy” rating to a “hold” rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Synopsys currently has a consensus rating of “Buy” and a consensus target price of $143.10.
In other news, VP Sudhindra Kankanwadi sold 8,011 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $144.30, for a total transaction of $1,155,987.30. Following the sale, the vice president now directly owns 8,663 shares of the company’s stock, valued at approximately $1,250,070.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Chi-Foon Chan sold 4,578 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $137.14, for a total value of $627,826.92. Following the sale, the chief executive officer now directly owns 199,539 shares in the company, valued at $27,364,778.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,881 shares of company stock worth $6,932,729. 1.84% of the stock is currently owned by insiders.
SNPS opened at $136.89 on Friday. The firm has a market cap of $20.65 billion, a P/E ratio of 48.54, a price-to-earnings-growth ratio of 3.58 and a beta of 1.23. Synopsys, Inc. has a 52-week low of $79.14 and a 52-week high of $146.66. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.90 and a current ratio of 0.99. The business’s fifty day moving average is $134.96 and its 200-day moving average is $123.37.
Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.03. The company had revenue of $853.00 million for the quarter, compared to analyst estimates of $831.03 million. Synopsys had a return on equity of 16.56% and a net margin of 18.94%. Synopsys’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.95 EPS. On average, research analysts predict that Synopsys, Inc. will post 3.15 earnings per share for the current fiscal year.
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.
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