Fifth Third Bancorp Purchases 985 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Fifth Third Bancorp raised its stake in Synopsys, Inc. (NASDAQ:SNPS) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 206,551 shares of the semiconductor company’s stock after buying an additional 985 shares during the quarter. Fifth Third Bancorp owned about 0.14% of Synopsys worth $106,355,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SNPS. Cibc World Market Inc. lifted its stake in Synopsys by 58.8% in the first quarter. Cibc World Market Inc. now owns 11,893 shares of the semiconductor company’s stock valued at $3,964,000 after buying an additional 4,402 shares in the last quarter. Prudential PLC acquired a new stake in shares of Synopsys in the first quarter valued at approximately $993,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Synopsys in the first quarter valued at approximately $240,000. Covestor Ltd raised its holdings in shares of Synopsys by 18.9% in the first quarter. Covestor Ltd now owns 271 shares of the semiconductor company’s stock valued at $90,000 after purchasing an additional 43 shares during the last quarter. Finally, Mather Group LLC. raised its holdings in shares of Synopsys by 64.4% in the first quarter. Mather Group LLC. now owns 1,680 shares of the semiconductor company’s stock valued at $560,000 after purchasing an additional 658 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SNPS shares. Needham & Company LLC restated a “buy” rating and set a $660.00 target price on shares of Synopsys in a report on Friday, March 22nd. Rosenblatt Securities restated a “buy” rating and set a $615.00 target price on shares of Synopsys in a report on Thursday, March 21st. Wells Fargo & Company boosted their target price on shares of Synopsys from $620.00 to $630.00 and gave the stock an “overweight” rating in a report on Wednesday, December 13th. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Finally, Robert W. Baird lifted their price objective on shares of Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, Synopsys presently has an average rating of “Buy” and an average target price of $594.60.

Synopsys Trading Down 0.3 %

NASDAQ SNPS traded down $1.85 during trading on Friday, hitting $571.50. 999,108 shares of the company’s stock were exchanged, compared to its average volume of 1,029,204. The company has a market cap of $87.18 billion, a PE ratio of 62.94, a P/E/G ratio of 3.24 and a beta of 1.07. Synopsys, Inc. has a fifty-two week low of $360.36 and a fifty-two week high of $629.38. The stock’s 50 day moving average price is $564.05 and its two-hundred day moving average price is $523.26.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.13. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the firm posted $1.75 earnings per share. The firm’s revenue was up 21.1% compared to the same quarter last year. Analysts forecast that Synopsys, Inc. will post 10.06 earnings per share for the current fiscal year.

Insider Activity

In other news, insider John F. Runkel, Jr. sold 2,508 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $506.18, for a total value of $1,269,499.44. Following the completion of the transaction, the insider now owns 26,780 shares of the company’s stock, valued at $13,555,500.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Synopsys news, insider John F. Runkel, Jr. sold 1,219 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total transaction of $711,835.05. Following the completion of the sale, the insider now owns 26,780 shares of the company’s stock, valued at approximately $15,638,181. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John F. Runkel, Jr. sold 2,508 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $506.18, for a total transaction of $1,269,499.44. Following the sale, the insider now directly owns 26,780 shares of the company’s stock, valued at approximately $13,555,500.40. The disclosure for this sale can be found here. Insiders sold 36,586 shares of company stock valued at $19,868,728 over the last quarter. 0.66% of the stock is owned by company insiders.

Synopsys Company Profile

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers 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.