DNB Asset Management AS reduced its stake in Synopsys, Inc. (NASDAQ:SNPS) by 14.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,692 shares of the semiconductor company’s stock after selling 2,612 shares during the quarter. DNB Asset Management AS’s holdings in Synopsys were worth $1,807,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. grew its stake in shares of Synopsys by 20,450.0% during the 1st quarter. Pacer Advisors Inc. now owns 20,961 shares of the semiconductor company’s stock worth $2,414,000 after acquiring an additional 20,859 shares during the period. Atalanta Sosnoff Capital LLC bought a new position in shares of Synopsys during the 1st quarter worth $389,000. We Are One Seven LLC grew its stake in shares of Synopsys by 90.4% during the 1st quarter. We Are One Seven LLC now owns 12,263 shares of the semiconductor company’s stock worth $1,412,000 after acquiring an additional 5,821 shares during the period. State of Alaska Department of Revenue grew its stake in shares of Synopsys by 0.3% during the 1st quarter. State of Alaska Department of Revenue now owns 37,607 shares of the semiconductor company’s stock worth $4,327,000 after acquiring an additional 100 shares during the period. Finally, Dorsey Wright & Associates grew its stake in shares of Synopsys by 4.4% during the 1st quarter. Dorsey Wright & Associates now owns 41,961 shares of the semiconductor company’s stock worth $4,832,000 after acquiring an additional 1,781 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.
In other Synopsys news, General Counsel John F. Runkel, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $101.71, for a total value of $1,017,100.00. Following the completion of the transaction, the general counsel now owns 21,071 shares in the company, valued at approximately $2,143,131.41. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Chi-Foon Chan sold 85,105 shares of the firm’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $102.20, for a total value of $8,697,731.00. Following the completion of the transaction, the chief executive officer now owns 294,218 shares of the company’s stock, valued at approximately $30,069,079.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 142,190 shares of company stock valued at $14,729,218. 1.84% of the stock is owned by corporate insiders.
SNPS stock opened at $116.73 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.03. The firm has a market cap of $17.69 billion, a PE ratio of 41.39, a PEG ratio of 3.78 and a beta of 1.30. Synopsys, Inc. has a fifty-two week low of $79.14 and a fifty-two week high of $119.23.
Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, February 20th. The semiconductor company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.57 by $0.51. Synopsys had a return on equity of 17.23% and a net margin of 18.59%. The business had revenue of $820.40 million during the quarter, compared to the consensus estimate of $796.30 million. During the same quarter last year, the company earned $1.10 EPS. The firm’s revenue was up 6.6% compared to the same quarter last year. On average, equities analysts forecast that Synopsys, Inc. will post 3.13 EPS for the current year.
SNPS has been the subject of several research reports. Zacks Investment Research upgraded Synopsys from a “hold” rating to a “strong-buy” rating and set a $117.00 price target for the company in a research note on Monday, February 25th. Needham & Company LLC reiterated a “buy” rating and set a $120.00 price target (up previously from $115.00) on shares of Synopsys in a research note on Thursday, March 28th. BidaskClub upgraded Synopsys from a “hold” rating to a “buy” rating in a research note on Saturday, February 9th. KeyCorp initiated coverage on Synopsys in a research note on Wednesday, April 10th. They set an “overweight” rating and a $135.00 price target for the company. Finally, Royal Bank of Canada increased their price target on Synopsys from $130.00 to $140.00 and gave the stock a “top pick” rating in a research note on Thursday, April 11th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and three have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $119.56.
WARNING: This report was published by Macon Daily and is owned by of Macon Daily. If you are reading this report on another domain, it was illegally copied and reposted in violation of U.S. and international copyright and trademark law. The legal version of this report can be read at https://macondaily.com/2019/04/17/dnb-asset-management-as-has-1-81-million-position-in-synopsys-inc-snps.html.
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.
See Also: Why do company’s buyback their stock?
Want to see what other hedge funds are holding SNPS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synopsys, Inc. (NASDAQ:SNPS).
Receive News & Ratings for Synopsys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synopsys and related companies with MarketBeat.com's FREE daily email newsletter.