Spark Investment Management LLC held its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) during the second quarter, Holdings Channel reports. The fund owned 49,800 shares of the semiconductor company’s stock at the end of the second quarter. Spark Investment Management LLC’s holdings in Synopsys were worth $3,631,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of SNPS. YorkBridge Wealth Partners LLC increased its stake in shares of Synopsys by 6.6% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,487 shares of the semiconductor company’s stock valued at $110,000 after buying an additional 92 shares during the last quarter. Mckinley Capital Management LLC Delaware acquired a new stake in shares of Synopsys during the first quarter valued at $121,000. Robecosam AG increased its stake in shares of Synopsys by 10.0% in the first quarter. Robecosam AG now owns 2,200 shares of the semiconductor company’s stock valued at $159,000 after buying an additional 200 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in shares of Synopsys by 101.5% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,216 shares of the semiconductor company’s stock valued at $160,000 after buying an additional 1,116 shares during the last quarter. Finally, SRS Capital Advisors Inc. increased its stake in shares of Synopsys by 14.4% in the first quarter. SRS Capital Advisors Inc. now owns 2,226 shares of the semiconductor company’s stock valued at $160,000 after buying an additional 281 shares during the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.
Synopsys, Inc. (NASDAQ SNPS) opened at 76.61 on Friday. Synopsys, Inc. has a 12-month low of $53.92 and a 12-month high of $77.29. The firm’s 50-day moving average price is $74.74 and its 200 day moving average price is $71.67. The stock has a market capitalization of $11.52 billion, a P/E ratio of 42.80 and a beta of 1.02.
Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, May 17th. The semiconductor company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.02. The company had revenue of $680.07 million for the quarter, compared to analyst estimates of $672.40 million. Synopsys had a return on equity of 11.16% and a net margin of 10.74%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.81 earnings per share. On average, equities analysts anticipate that Synopsys, Inc. will post $3.28 EPS for the current year.
Synopsys announced that its Board of Directors has initiated a share repurchase plan on Friday, June 16th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 4.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
Several brokerages have recently weighed in on SNPS. BidaskClub downgraded Synopsys from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $85.00 price target (up from $77.00) on shares of Synopsys in a report on Thursday, May 18th. Bank of America Corporation reiterated a “buy” rating and issued a $87.00 price target (up from $80.00) on shares of Synopsys in a report on Friday, May 19th. J P Morgan Chase & Co reiterated an “average” rating on shares of Synopsys in a report on Friday, May 26th. Finally, DA Davidson reiterated a “buy” rating and issued a $85.00 price target (up from $77.00) on shares of Synopsys in a report on Friday, May 19th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $75.78.
In other Synopsys news, CEO Chi-Foon Chan sold 3,750 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $70.96, for a total value of $266,100.00. Following the sale, the chief executive officer now owns 204,179 shares of the company’s stock, valued at $14,488,541.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John Schwarz sold 21,496 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $71.20, for a total value of $1,530,515.20. Following the completion of the sale, the director now directly owns 19,324 shares in the company, valued at approximately $1,375,868.80. The disclosure for this sale can be found here. In the last three months, insiders sold 304,246 shares of company stock worth $21,608,505. 1.82% of the stock is owned by corporate insiders.
Synopsys Company Profile
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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