Synopsys, Inc. (SNPS) Shares Bought by Xact Kapitalforvaltning AB

Xact Kapitalforvaltning AB grew its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 42,645 shares of the semiconductor company’s stock after purchasing an additional 1,128 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in Synopsys were worth $3,550,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its stake in shares of Synopsys by 1.9% in the first quarter. Royal Bank of Canada now owns 793,702 shares of the semiconductor company’s stock valued at $66,068,000 after buying an additional 14,855 shares during the period. Alkeon Capital Management LLC lifted its stake in shares of Synopsys by 2.8% in the first quarter. Alkeon Capital Management LLC now owns 2,518,350 shares of the semiconductor company’s stock valued at $209,627,000 after buying an additional 67,425 shares during the period. Legal & General Group Plc lifted its stake in shares of Synopsys by 1.9% in the first quarter. Legal & General Group Plc now owns 862,693 shares of the semiconductor company’s stock valued at $71,778,000 after buying an additional 15,690 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its stake in shares of Synopsys by 35.1% in the first quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 55,798 shares of the semiconductor company’s stock valued at $4,645,000 after buying an additional 14,500 shares during the period. Finally, Syntal Capital Partners LLC lifted its stake in shares of Synopsys by 21.4% in the first quarter. Syntal Capital Partners LLC now owns 17,890 shares of the semiconductor company’s stock valued at $1,489,000 after buying an additional 3,149 shares during the period. Institutional investors and hedge funds own 88.45% of the company’s stock.

In other news, General Counsel John F. Runkel, Jr. sold 9,802 shares of Synopsys stock in a transaction that occurred on Thursday, June 7th. The shares were sold at an average price of $90.00, for a total value of $882,180.00. Following the completion of the transaction, the general counsel now owns 22,373 shares in the company, valued at $2,013,570. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joseph W. Logan sold 20,000 shares of Synopsys stock in a transaction that occurred on Friday, May 25th. The shares were sold at an average price of $88.33, for a total transaction of $1,766,600.00. Following the completion of the transaction, the executive vice president now owns 88,271 shares of the company’s stock, valued at approximately $7,796,977.43. The disclosure for this sale can be found here. Insiders sold 72,633 shares of company stock valued at $6,421,334 in the last quarter. 1.84% of the stock is currently owned by corporate insiders.

Shares of Synopsys opened at $88.12 on Friday, according to Marketbeat. The stock has a market cap of $13.30 billion, a price-to-earnings ratio of 65.61, a price-to-earnings-growth ratio of 5.41 and a beta of 1.10. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.73 and a quick ratio of 0.73. Synopsys, Inc. has a 12 month low of $71.94 and a 12 month high of $94.80.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, May 23rd. The semiconductor company reported $1.08 EPS for the quarter, hitting analysts’ consensus estimates of $1.08. Synopsys had a net margin of 3.25% and a return on equity of 6.55%. The firm had revenue of $776.80 million during the quarter, compared to analysts’ expectations of $775.60 million. During the same quarter last year, the company earned $0.88 earnings per share. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. sell-side analysts anticipate that Synopsys, Inc. will post 1.65 earnings per share for the current fiscal year.

Synopsys declared that its board has initiated a share repurchase plan on Thursday, April 5th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the semiconductor company to reacquire up to 4.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

A number of research analysts have commented on the stock. Zacks Investment Research cut shares of Synopsys from a “buy” rating to a “hold” rating in a research note on Wednesday, May 23rd. BidaskClub cut shares of Synopsys from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. KeyCorp raised their price target on shares of Synopsys from $110.00 to $112.00 and gave the stock an “overweight” rating in a research note on Thursday, May 24th. ValuEngine upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Thursday, April 12th. Finally, TheStreet upgraded shares of Synopsys from a “c+” rating to a “b” rating in a research note on Wednesday, May 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. Synopsys presently has a consensus rating of “Buy” and a consensus price target of $102.71.

Synopsys Profile

Synopsys, Inc provides electronic design automation (EDA) software products used to design and test integrated circuits (ICs). It offers Galaxy Design platform that offers IC design solutions; 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.

Want to see what other hedge funds are holding SNPS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synopsys, Inc. (NASDAQ:SNPS).

Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

Receive News & Ratings for Synopsys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synopsys and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply