Dorsey Wright & Associates grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 0.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,193 shares of the semiconductor company’s stock after purchasing an additional 232 shares during the period. Synopsys comprises about 1.3% of Dorsey Wright & Associates’ holdings, making the stock its 18th biggest holding. Dorsey Wright & Associates’ holdings in Synopsys were worth $5,430,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC increased its holdings in shares of Synopsys by 1.1% during the 1st quarter. FMR LLC now owns 257,171 shares of the semiconductor company’s stock valued at $29,613,000 after acquiring an additional 2,914 shares during the last quarter. Horizon Investments LLC acquired a new position in shares of Synopsys during the 1st quarter valued at about $233,000. Cypress Wealth Advisors LLC acquired a new position in shares of Synopsys during the 1st quarter valued at about $230,000. Nordea Investment Management AB increased its holdings in shares of Synopsys by 20.8% during the 1st quarter. Nordea Investment Management AB now owns 343,478 shares of the semiconductor company’s stock valued at $39,551,000 after acquiring an additional 59,165 shares during the last quarter. Finally, GYL Financial Synergies LLC acquired a new position in shares of Synopsys during the 1st quarter valued at about $999,000. 91.73% of the stock is owned by institutional investors and hedge funds.
SNPS has been the topic of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and set a $120.00 price objective on shares of Synopsys in a report on Wednesday, April 3rd. DA Davidson increased their price objective on Synopsys to $135.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. BidaskClub lowered Xencor from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 11th. KeyCorp lowered their price objective on Lear from $185.00 to $170.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. They noted that the move was a valuation call. Finally, Wells Fargo & Co assumed coverage on Semtech in a report on Tuesday, May 14th. They set an “outperform” rating and a $48.03 price objective on the stock. Three research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $125.89.
In other news, CEO Chi-Foon Chan sold 5,105 shares of Synopsys stock in a transaction on Friday, May 24th. The stock was sold at an average price of $117.15, for a total value of $598,050.75. Following the completion of the sale, the chief executive officer now directly owns 204,117 shares of the company’s stock, valued at approximately $23,912,306.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Geus Aart De sold 156,100 shares of Synopsys stock in a transaction on Friday, May 24th. The shares were sold at an average price of $117.15, for a total value of $18,287,115.00. Following the completion of the sale, the chairman now directly owns 189,894 shares of the company’s stock, valued at $22,246,082.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 207,180 shares of company stock valued at $24,653,559. Corporate insiders own 1.84% of the company’s stock.
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 1,155,217. The company’s 50 day moving average price is $129.80. The company has a quick ratio of 0.85, a current ratio of 0.95 and a debt-to-equity ratio of 0.03. Synopsys, Inc. has a 12 month low of $79.14 and a 12 month high of $137.88. The company has a market capitalization of $20.30 billion, a PE ratio of 48.28, a price-to-earnings-growth ratio of 4.05 and a beta of 1.27.
Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $0.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.04. Synopsys had a return on equity of 16.88% and a net margin of 18.74%. The firm had revenue of $836.20 million during the quarter, compared to the consensus estimate of $829.41 million. During the same quarter in the previous year, the company posted $1.08 EPS. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, analysts predict that Synopsys, Inc. will post 3.03 earnings per share for the current year.
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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