Cubist Systematic Strategies LLC raised its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 191.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 113,252 shares of the semiconductor company’s stock after acquiring an additional 74,404 shares during the period. Synopsys comprises approximately 0.5% of Cubist Systematic Strategies LLC’s portfolio, making the stock its 10th biggest holding. Cubist Systematic Strategies LLC owned about 0.08% of Synopsys worth $9,120,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of SNPS. Bronfman E.L. Rothschild L.P. grew its holdings in shares of Synopsys by 11.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,382 shares of the semiconductor company’s stock worth $101,000 after purchasing an additional 147 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Synopsys by 40.4% in the second quarter. IFP Advisors Inc now owns 1,441 shares of the semiconductor company’s stock worth $105,000 after purchasing an additional 415 shares during the last quarter. YorkBridge Wealth Partners LLC grew its holdings in shares of Synopsys by 3.7% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,542 shares of the semiconductor company’s stock worth $111,000 after purchasing an additional 55 shares during the last quarter. Advisor Group Inc. grew its holdings in shares of Synopsys by 14.3% in the second quarter. Advisor Group Inc. now owns 2,617 shares of the semiconductor company’s stock worth $190,000 after purchasing an additional 327 shares during the last quarter. Finally, Coldstream Capital Management Inc. bought a new position in shares of Synopsys in the second quarter worth approximately $200,000. Institutional investors and hedge funds own 89.82% of the company’s stock.
In related news, CEO Chi-Foon Chan sold 3,750 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $89.78, for a total value of $336,675.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Joseph W. Logan sold 5,000 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $90.33, for a total value of $451,650.00. The disclosure for this sale can be found here. Insiders sold 29,824 shares of company stock valued at $2,680,349 in the last ninety days. 1.82% of the stock is currently owned by insiders.
Several brokerages have recently issued reports on SNPS. TheStreet cut shares of Synopsys from an “a” rating to a “c+” rating in a report on Wednesday, November 29th. Needham & Company LLC raised their target price on shares of Synopsys from $83.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, December 1st. Zacks Investment Research cut shares of Synopsys from a “hold” rating to a “strong sell” rating in a report on Monday, December 4th. Royal Bank Of Canada raised their target price on shares of Synopsys from $100.00 to $110.00 and gave the stock a “top pick” rating in a report on Wednesday, November 22nd. Finally, DA Davidson restated a “buy” rating and issued a $105.00 target price (up previously from $91.00) on shares of Synopsys in a report on Tuesday, November 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Synopsys has a consensus rating of “Buy” and an average price target of $98.13.
Shares of Synopsys, Inc. (SNPS) opened at $90.51 on Monday. Synopsys, Inc. has a 52 week low of $58.58 and a 52 week high of $94.80. The company has a market capitalization of $13,616.78, a price-to-earnings ratio of 74.19, a P/E/G ratio of 4.42 and a beta of 1.01. The company has a quick ratio of 1.07, a current ratio of 1.04 and a debt-to-equity ratio of 0.04.
Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, November 29th. The semiconductor company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.12. Synopsys had a return on equity of 5.78% and a net margin of 5.01%. The company had revenue of $696.60 million during the quarter, compared to analyst estimates of $650.72 million. During the same quarter last year, the firm posted $0.77 earnings per share. The firm’s revenue was up 9.9% on a year-over-year basis. analysts expect that Synopsys, Inc. will post 2.24 EPS for the current fiscal year.
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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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