First Quadrant L P CA lowered its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 11.1% during the second quarter, Holdings Channel reports. The fund owned 44,539 shares of the semiconductor company’s stock after selling 5,561 shares during the quarter. First Quadrant L P CA’s holdings in Synopsys were worth $5,732,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Greenleaf Trust boosted its stake in Synopsys by 1.9% in the 2nd quarter. Greenleaf Trust now owns 4,355 shares of the semiconductor company’s stock worth $560,000 after buying an additional 80 shares during the last quarter. Securian Asset Management Inc raised its holdings in shares of Synopsys by 0.6% in the 1st quarter. Securian Asset Management Inc now owns 15,405 shares of the semiconductor company’s stock worth $1,774,000 after purchasing an additional 97 shares during the period. State of Alaska Department of Revenue raised its holdings in shares of Synopsys by 0.3% in the 1st quarter. State of Alaska Department of Revenue now owns 37,607 shares of the semiconductor company’s stock worth $4,327,000 after purchasing an additional 100 shares during the period. Louisiana State Employees Retirement System raised its holdings in shares of Synopsys by 1.3% in the 1st quarter. Louisiana State Employees Retirement System now owns 7,900 shares of the semiconductor company’s stock worth $910,000 after purchasing an additional 100 shares during the period. Finally, Flagship Harbor Advisors LLC raised its holdings in shares of Synopsys by 78.7% in the 1st quarter. Flagship Harbor Advisors LLC now owns 227 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 100 shares during the period. 91.73% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:SNPS traded down $3.17 during mid-day trading on Friday, hitting $129.35. 1,111,933 shares of the company traded hands, compared to its average volume of 832,254. The firm has a market capitalization of $19.86 billion, a price-to-earnings ratio of 45.87, a P/E/G ratio of 3.98 and a beta of 1.27. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.85 and a current ratio of 0.95. Synopsys, Inc. has a 52-week low of $79.14 and a 52-week high of $138.72. The stock’s 50 day moving average price is $132.60.
Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, May 22nd. The semiconductor company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.73 by $0.04. The business had revenue of $836.20 million for the quarter, compared to the consensus estimate of $829.41 million. Synopsys had a return on equity of 16.88% and a net margin of 18.74%. The company’s revenue was up 7.6% on a year-over-year basis. During the same period last year, the business posted $1.08 EPS. On average, equities analysts expect that Synopsys, Inc. will post 3.03 earnings per share for the current fiscal year.
In other Synopsys news, Chairman Geus Aart De sold 156,100 shares of Synopsys stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $117.15, for a total transaction of $18,287,115.00. Following the sale, the chairman now directly owns 189,894 shares in the company, valued at approximately $22,246,082.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel John F. Runkel, Jr. sold 10,000 shares of Synopsys stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $117.36, for a total value of $1,173,600.00. Following the sale, the general counsel now owns 26,331 shares in the company, valued at $3,090,206.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 207,180 shares of company stock worth $24,653,559. Company insiders own 1.84% of the company’s stock.
A number of equities analysts have recently commented on SNPS shares. Bank of America restated an “average” rating on shares of Synopsys in a report on Wednesday, June 5th. Zacks Investment Research downgraded Synopsys from a “hold” rating to a “sell” rating and set a $143.00 price objective on the stock. in a report on Wednesday, July 24th. KeyCorp raised their price objective on Synopsys from $135.00 to $152.00 and gave the stock an “overweight” rating in a report on Friday, July 12th. BidaskClub downgraded Synopsys from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Finally, Royal Bank of Canada raised their target price on Synopsys from $130.00 to $140.00 and gave the company a “top pick” rating in a report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Synopsys presently has a consensus rating of “Buy” and a consensus target price of $128.00.
Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits (ICs). It offers Fusion Design Platform, a digital design implementation solution; 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.
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