Korea Investment CORP raised its stake in Synopsys, Inc. (NASDAQ:SNPS) by 1.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 329,312 shares of the semiconductor company’s stock after acquiring an additional 5,400 shares during the quarter. Korea Investment CORP owned approximately 0.22% of Synopsys worth $28,179,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in SNPS. Piedmont Investment Advisors LLC acquired a new position in shares of Synopsys during the 2nd quarter worth approximately $149,000. Advisor Partners LLC acquired a new position in shares of Synopsys during the 2nd quarter worth approximately $205,000. Checchi Capital Advisers LLC acquired a new position in shares of Synopsys during the 2nd quarter worth approximately $205,000. NumerixS Investment Technologies Inc acquired a new position in shares of Synopsys during the 2nd quarter worth approximately $212,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in shares of Synopsys during the 2nd quarter worth approximately $220,000. 88.34% of the stock is owned by institutional investors.
Shares of SNPS opened at $100.67 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.70 and a quick ratio of 0.73. Synopsys, Inc. has a one year low of $78.66 and a one year high of $102.91. The company has a market cap of $15.18 billion, a P/E ratio of 90.39, a PEG ratio of 6.51 and a beta of 1.17.
Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, August 22nd. The semiconductor company reported $0.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.03. Synopsys had a return on equity of 5.52% and a net margin of 1.92%. The firm had revenue of $779.70 million during the quarter, compared to analysts’ expectations of $773.61 million. During the same period in the previous year, the business earned $0.92 earnings per share. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. equities analysts predict that Synopsys, Inc. will post 1.57 EPS for the current year.
Several research analysts have recently weighed in on the company. BidaskClub raised Synopsys from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 28th. DA Davidson upped their target price on Synopsys to $110.00 and gave the stock a “buy” rating in a research note on Thursday, August 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $105.00 target price (up from $100.00) on shares of Synopsys in a research note on Thursday, August 23rd. KeyCorp upped their target price on Synopsys from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, August 23rd. Finally, JPMorgan Chase & Co. upped their target price on Synopsys to $98.00 and gave the stock an “underweight” rating in a research note on Thursday, August 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $106.14.
In related news, CEO Chi-Foon Chan sold 3,609 shares of the business’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $101.85, for a total transaction of $367,576.65. Following the completion of the sale, the chief executive officer now directly owns 202,135 shares in the company, valued at $20,587,449.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph W. Logan sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $101.43, for a total value of $2,028,600.00. Following the sale, the executive vice president now owns 88,271 shares of the company’s stock, valued at $8,953,327.53. The disclosure for this sale can be found here. Insiders have sold 33,609 shares of company stock valued at $3,416,177 over the last quarter. 1.84% of the stock is owned by company insiders.
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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