WINTON GROUP Ltd decreased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 15.9% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 30,488 shares of the semiconductor company’s stock after selling 5,764 shares during the quarter. WINTON GROUP Ltd’s holdings in Synopsys were worth $2,538,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its stake in shares of Synopsys by 18.8% during the 4th quarter. Wells Fargo & Company MN now owns 720,487 shares of the semiconductor company’s stock valued at $61,415,000 after buying an additional 113,892 shares in the last quarter. Jefferies Group LLC purchased a new position in shares of Synopsys during the 4th quarter valued at $10,980,000. Kornitzer Capital Management Inc. KS lifted its stake in shares of Synopsys by 4.8% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 209,400 shares of the semiconductor company’s stock valued at $17,430,000 after buying an additional 9,610 shares in the last quarter. MetLife Investment Advisors LLC purchased a new position in shares of Synopsys during the 4th quarter valued at $3,962,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Synopsys by 4.7% during the 4th quarter. Bank of New York Mellon Corp now owns 1,075,815 shares of the semiconductor company’s stock valued at $91,701,000 after buying an additional 48,485 shares in the last quarter. Institutional investors own 88.45% of the company’s stock.
In other news, CEO Chi-Foon Chan sold 42,831 shares of the business’s stock in a transaction dated Friday, May 25th. The shares were sold at an average price of $88.08, for a total value of $3,772,554.48. Following the sale, the chief executive officer now directly owns 248,575 shares in the company, valued at approximately $21,894,486. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel John F. Runkel, Jr. sold 9,802 shares of the business’s stock in a transaction dated Thursday, June 7th. The stock was sold at an average price of $90.00, for a total transaction of $882,180.00. Following the completion of the sale, the general counsel now owns 22,373 shares in the company, valued at $2,013,570. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,633 shares of company stock worth $6,421,334. Insiders own 1.84% of the company’s stock.
Shares of SNPS stock opened at $88.12 on Monday. The firm has a market capitalization of $13.13 billion, a price-to-earnings ratio of 100.14, a P/E/G ratio of 5.34 and a beta of 1.10. Synopsys, Inc. has a 52 week low of $71.94 and a 52 week high of $94.80. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.73 and a current ratio of 0.73.
Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, May 23rd. The semiconductor company reported $1.08 EPS for the quarter, hitting the consensus estimate of $1.08. Synopsys had a net margin of 3.25% and a return on equity of 6.55%. The business had revenue of $776.80 million for the quarter, compared to analysts’ expectations of $775.60 million. During the same quarter in the previous year, the company earned $0.88 EPS. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. equities analysts expect that Synopsys, Inc. will post 1.65 earnings per share for the current fiscal year.
Synopsys announced that its board has authorized a share repurchase program on Thursday, April 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 4.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
A number of research analysts recently weighed in on SNPS shares. TheStreet upgraded shares of Synopsys from a “c+” rating to a “b” rating in a research note on Wednesday, May 23rd. Zacks Investment Research upgraded shares of Synopsys from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research note on Tuesday, April 24th. ValuEngine upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Thursday, April 12th. BidaskClub upgraded shares of Synopsys from a “sell” rating to a “hold” rating in a research note on Tuesday, March 6th. Finally, Credit Suisse Group boosted their price target on shares of Synopsys from $100.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday, May 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $102.71.
Synopsys, Inc provides electronic design automation (EDA) software products used to design and test integrated circuits (ICs). It offers Galaxy Design platform that offers IC design solutions; 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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