Eagle Asset Management Inc. grew its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 16.0% in the 4th quarter, HoldingsChannel reports. The fund owned 467,774 shares of the semiconductor company’s stock after buying an additional 64,604 shares during the period. Eagle Asset Management Inc.’s holdings in Synopsys were worth $39,995,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNPS. Cerebellum GP LLC bought a new stake in shares of Synopsys during the fourth quarter valued at approximately $124,000. IBM Retirement Fund bought a new stake in shares of Synopsys during the fourth quarter valued at approximately $201,000. Conning Inc. bought a new stake in shares of Synopsys during the fourth quarter valued at approximately $205,000. Checchi Capital Advisers LLC bought a new stake in shares of Synopsys during the fourth quarter valued at approximately $205,000. Finally, Tiemann Investment Advisors LLC bought a new stake in Synopsys during the third quarter worth $214,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.
Several brokerages recently issued reports on SNPS. JPMorgan Chase & Co. downgraded Synopsys from a “neutral” rating to an “underweight” rating and set a $87.00 price target for the company. in a report on Tuesday, December 12th. BidaskClub downgraded Synopsys from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. KeyCorp reiterated an “overweight” rating and set a $106.00 price target (up previously from $86.00) on shares of Synopsys in a report on Thursday, November 30th. TheStreet downgraded Synopsys from an “a” rating to a “c+” rating in a report on Wednesday, November 29th. Finally, Needham & Company LLC upped their price target on Synopsys from $83.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $96.89.
Shares of Synopsys, Inc. (SNPS) opened at $89.07 on Friday. Synopsys, Inc. has a 1-year low of $68.79 and a 1-year high of $94.80. The stock has a market capitalization of $13,225.11, a price-to-earnings ratio of 104.79, a P/E/G ratio of 3.96 and a beta of 1.04. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.04.
Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, November 29th. The semiconductor company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.12. The firm had revenue of $696.60 million during the quarter, compared to the consensus estimate of $650.72 million. Synopsys had a return on equity of 5.78% and a net margin of 5.01%. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS. analysts forecast that Synopsys, Inc. will post 2.24 EPS for the current fiscal year.
In other Synopsys news, Director Steven Walske sold 4,545 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 14,988 shares in the company, valued at approximately $1,350,718.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Chi-Foon Chan sold 3,750 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $89.78, for a total value of $336,675.00. The disclosure for this sale can be found here. Insiders sold a total of 65,442 shares of company stock valued at $5,779,693 in the last 90 days. Corporate insiders own 1.82% of the company’s stock.
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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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