Comerica Bank Purchases 5,648 Shares of Synopsys, Inc. (SNPS)

Comerica Bank boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 12.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 49,847 shares of the semiconductor company’s stock after purchasing an additional 5,648 shares during the quarter. Comerica Bank’s holdings in Synopsys were worth $4,628,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Cerebellum GP LLC acquired a new position in shares of Synopsys during the 4th quarter worth about $124,000. Advisor Group Inc. grew its position in shares of Synopsys by 14.3% during the 2nd quarter. Advisor Group Inc. now owns 2,617 shares of the semiconductor company’s stock worth $190,000 after buying an additional 327 shares during the period. Conning Inc. acquired a new position in shares of Synopsys during the 4th quarter worth about $205,000. Tiemann Investment Advisors LLC acquired a new position in shares of Synopsys in the 3rd quarter valued at approximately $214,000. Finally, Lakeview Capital Partners LLC acquired a new position in shares of Synopsys in the 3rd quarter valued at approximately $215,000. 89.77% of the stock is owned by hedge funds and other institutional investors.

In other Synopsys news, General Counsel John F. Runkel, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $88.00, for a total transaction of $880,000.00. Following the completion of the transaction, the general counsel now owns 18,742 shares of the company’s stock, valued at approximately $1,649,296. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Steven Walske sold 4,545 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $90.12, for a total value of $409,595.40. Following the sale, the director now owns 14,988 shares in the company, valued at approximately $1,350,718.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 65,442 shares of company stock valued at $5,779,693. Insiders own 1.82% of the company’s stock.

Several brokerages recently issued reports on SNPS. JPMorgan Chase & Co. lowered Synopsys from a “neutral” rating to an “underweight” rating and set a $87.00 price objective for the company. in a research report on Tuesday, December 12th. BidaskClub lowered Synopsys from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. KeyCorp reiterated an “overweight” rating and issued a $106.00 price objective (up from $86.00) on shares of Synopsys in a research report on Thursday, November 30th. TheStreet lowered Synopsys from an “a” rating to a “c+” rating in a research report on Wednesday, November 29th. Finally, Needham & Company LLC boosted their price objective on Synopsys from $83.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. Synopsys has a consensus rating of “Hold” and a consensus target price of $96.89.

Synopsys, Inc. (NASDAQ:SNPS) opened at $86.62 on Thursday. Synopsys, Inc. has a 12-month low of $65.56 and a 12-month high of $94.80. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market capitalization of $12,689.74, a P/E ratio of 101.91, a price-to-earnings-growth ratio of 3.80 and a beta of 1.04.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, November 29th. The semiconductor company reported $0.69 earnings per share 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 firm had revenue of $696.60 million during the quarter, compared to the consensus estimate of $650.72 million. During the same quarter in the prior year, the firm posted $0.77 EPS. The business’s revenue was up 9.9% on a year-over-year basis. sell-side analysts expect that Synopsys, Inc. will post 2.24 earnings per share for the current year.

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About Synopsys

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.

Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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