New York State Teachers Retirement System cut its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 2.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 213,409 shares of the semiconductor company’s stock after selling 4,834 shares during the period. New York State Teachers Retirement System owned approximately 0.14% of Synopsys worth $27,464,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Flagship Harbor Advisors LLC raised its holdings in Synopsys by 78.7% during the 1st quarter. Flagship Harbor Advisors LLC now owns 227 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 100 shares during the period. Hanseatic Management Services Inc. purchased a new position in shares of Synopsys during the 1st quarter valued at $30,000. Tompkins Financial Corp grew its position in shares of Synopsys by 63.7% during the 1st quarter. Tompkins Financial Corp now owns 280 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 109 shares in the last quarter. Executive Wealth Management LLC purchased a new position in shares of Synopsys during the 4th quarter valued at $29,000. Finally, FinTrust Capital Advisors LLC grew its position in shares of Synopsys by 16,900.0% during the 1st quarter. FinTrust Capital Advisors LLC now owns 850 shares of the semiconductor company’s stock valued at $98,000 after purchasing an additional 845 shares in the last quarter. Institutional investors own 91.73% of the company’s stock.
In other news, VP Sudhindra Kankanwadi sold 3,133 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $121.88, for a total value of $381,850.04. Following the completion of the sale, the vice president now owns 8,416 shares in the company, valued at approximately $1,025,742.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Chrysostomos L. Nikias sold 1,050 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $117.36, for a total transaction of $123,228.00. Following the completion of the sale, the director now owns 22,881 shares of the company’s stock, valued at approximately $2,685,314.16. The disclosure for this sale can be found here. Insiders have sold a total of 207,180 shares of company stock valued at $24,653,559 in the last quarter. 1.84% of the stock is currently owned by company insiders.
SNPS traded up $0.74 during trading on Tuesday, hitting $136.16. The company’s stock had a trading volume of 894,246 shares, compared to its average volume of 1,175,486. The stock has a market cap of $20.30 billion, a price-to-earnings ratio of 48.28, a PEG ratio of 4.05 and a beta of 1.27. Synopsys, Inc. has a one year low of $79.14 and a one year high of $137.88. The stock has a 50 day moving average price of $129.80. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.85 and a current ratio of 0.95.
Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. Synopsys had a net margin of 18.74% and a return on equity of 16.88%. The business had revenue of $836.20 million during the quarter, compared to analysts’ expectations of $829.41 million. During the same period last year, the company posted $1.08 EPS. The business’s revenue was up 7.6% on a year-over-year basis. Analysts expect that Synopsys, Inc. will post 3.03 earnings per share for the current fiscal year.
A number of research firms have recently commented on SNPS. KeyCorp reduced their price target on shares of Lear from $185.00 to $170.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. They noted that the move was a valuation call. Wells Fargo & Co began coverage on shares of Semtech in a research report on Tuesday, May 14th. They set an “outperform” rating and a $48.03 price target for the company. Zacks Investment Research upgraded shares of Hudson Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Bank of America set a $4.00 price target on shares of GameStop and gave the company a “sell” rating in a research report on Wednesday, June 5th. Finally, BidaskClub lowered shares of Xencor from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 11th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Synopsys presently has an average rating of “Buy” and an average target price of $125.89.
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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