Koch Industries Inc. bought a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 492,152 shares of the semiconductor company’s stock, valued at approximately $485,000. Koch Industries Inc. owned approximately 0.33% of Synopsys as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in SNPS. Bronfman E.L. Rothschild L.P. boosted its stake in Synopsys by 11.9% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,382 shares of the semiconductor company’s stock valued at $101,000 after buying an additional 147 shares in the last quarter. IFP Advisors Inc boosted its stake in Synopsys by 40.4% during the second quarter. IFP Advisors Inc now owns 1,441 shares of the semiconductor company’s stock valued at $105,000 after buying an additional 415 shares in the last quarter. YorkBridge Wealth Partners LLC boosted its stake in Synopsys by 3.7% during the second quarter. YorkBridge Wealth Partners LLC now owns 1,542 shares of the semiconductor company’s stock valued at $111,000 after buying an additional 55 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in Synopsys by 101.5% during the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,216 shares of the semiconductor company’s stock valued at $160,000 after buying an additional 1,116 shares in the last quarter. Finally, Advisor Group Inc. boosted its stake in Synopsys by 14.3% during the second quarter. Advisor Group Inc. now owns 2,617 shares of the semiconductor company’s stock valued at $190,000 after buying an additional 327 shares in the last quarter. 88.94% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently weighed in on the company. BidaskClub cut Synopsys from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Zacks Investment Research raised Synopsys from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research note on Monday, August 21st. Credit Suisse Group reaffirmed a “positive” rating and set a $90.00 target price (up previously from $82.00) on shares of Synopsys in a research note on Tuesday, August 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $83.00 target price (up previously from $77.00) on shares of Synopsys in a research note on Thursday, August 17th. Finally, Royal Bank Of Canada raised their target price on Synopsys from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, August 17th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $84.00.
In related news, EVP Joseph W. Logan sold 5,000 shares of Synopsys stock in a transaction on Friday, August 18th. The stock was sold at an average price of $76.99, for a total transaction of $384,950.00. Following the completion of the sale, the executive vice president now directly owns 63,793 shares of the company’s stock, valued at $4,911,423.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Chi-Foon Chan sold 3,750 shares of Synopsys stock in a transaction on Friday, August 18th. The stock was sold at an average price of $77.50, for a total value of $290,625.00. Following the sale, the chief executive officer now directly owns 200,429 shares of the company’s stock, valued at $15,533,247.50. The disclosure for this sale can be found here. 1.82% of the stock is owned by insiders.
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Synopsys, Inc. (SNPS) traded down 0.15% during trading on Friday, hitting $84.61. The company had a trading volume of 831,081 shares. The company has a market capitalization of $12.71 billion, a price-to-earnings ratio of 39.72 and a beta of 1.00. The firm has a 50-day moving average of $80.70 and a 200 day moving average of $76.01. Synopsys, Inc. has a 12-month low of $56.03 and a 12-month high of $85.00.
Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, August 16th. The semiconductor company reported $0.92 EPS for the quarter, hitting analysts’ consensus estimates of $0.92. Synopsys had a return on equity of 11.60% and a net margin of 12.37%. The business had revenue of $695.40 million during the quarter, compared to analysts’ expectations of $691.22 million. During the same period in the previous year, the firm earned $0.76 earnings per share. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, equities research analysts forecast that Synopsys, Inc. will post $3.31 earnings per share for the current year.
Synopsys, Inc provides software, intellectual property (IP) and services. The Company supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits, also known as chips. It also offers IP products, which are pre-designed circuits that engineers use as components of larger chip designs rather than designing those circuits themselves.
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