Ontario Teachers Pension Plan Board Raises Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Ontario Teachers Pension Plan Board grew its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 106.3% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 9,738 shares of the semiconductor company’s stock after acquiring an additional 5,017 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Synopsys were worth $1,254,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Parnassus Investments CA grew its stake in shares of Synopsys by 0.7% in the 1st quarter. Parnassus Investments CA now owns 3,798,353 shares of the semiconductor company’s stock worth $489,190,000 after buying an additional 26,504 shares in the last quarter. Pictet Asset Management Ltd. grew its stake in shares of Synopsys by 10.2% in the 4th quarter. Pictet Asset Management Ltd. now owns 2,940,761 shares of the semiconductor company’s stock worth $409,354,000 after buying an additional 273,314 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Synopsys by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 2,766,857 shares of the semiconductor company’s stock worth $384,483,000 after purchasing an additional 91,215 shares during the period. Franklin Resources Inc. boosted its stake in shares of Synopsys by 11.4% during the 4th quarter. Franklin Resources Inc. now owns 2,026,850 shares of the semiconductor company’s stock worth $282,136,000 after purchasing an additional 208,004 shares during the period. Finally, Norges Bank purchased a new position in shares of Synopsys during the 4th quarter worth about $214,904,000. 87.30% of the stock is owned by institutional investors and hedge funds.

Synopsys stock opened at $168.49 on Friday. Synopsys, Inc. has a 12-month low of $104.90 and a 12-month high of $169.44. The stock has a market cap of $24.91 billion, a P/E ratio of 54.88, a PEG ratio of 2.95 and a beta of 1.14. The company has a 50-day moving average price of $148.67 and a 200 day moving average price of $142.73. The company has a current ratio of 0.95, a quick ratio of 0.88 and a debt-to-equity ratio of 0.14.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, May 20th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.23. Synopsys had a net margin of 13.96% and a return on equity of 11.69%. The firm had revenue of $861.33 million during the quarter, compared to analysts’ expectations of $836.52 million. During the same period last year, the business earned $1.16 earnings per share. Synopsys’s revenue was up 3.0% compared to the same quarter last year. As a group, analysts forecast that Synopsys, Inc. will post 3.79 EPS for the current year.

A number of equities analysts recently commented on SNPS shares. BidaskClub raised shares of Synopsys from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 14th. Atlantic Securities started coverage on shares of Synopsys in a research report on Tuesday, February 18th. They issued an “overweight” rating and a $200.00 price objective for the company. KeyCorp boosted their price objective on shares of Synopsys from $175.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of Synopsys from $160.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Zacks Investment Research lowered shares of Synopsys from a “buy” rating to a “hold” rating and set a $134.00 price target for the company. in a report on Friday, March 27th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Synopsys has a consensus rating of “Buy” and a consensus price target of $181.69.

In other Synopsys news, Director Bruce R. Chizen sold 25,000 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $153.63, for a total transaction of $3,840,750.00. Following the completion of the transaction, the director now owns 13,165 shares of the company’s stock, valued at $2,022,538.95. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel John F. Runkel, Jr. sold 5,000 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $127.43, for a total transaction of $637,150.00. Following the transaction, the general counsel now directly owns 23,736 shares of the company’s stock, valued at approximately $3,024,678.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,000 shares of company stock valued at $5,886,250. 1.84% of the stock is owned by company insiders.

Synopsys Profile

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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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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