Los Angeles Capital Management & Equity Research Inc. purchased a new position in Synopsys, Inc. (NASDAQ:SNPS) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 140,566 shares of the semiconductor company’s stock, valued at approximately $10,251,000. Los Angeles Capital Management & Equity Research Inc. owned about 0.09% of Synopsys at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of SNPS. Vanguard Group Inc. lifted its holdings in Synopsys by 21.6% during the 1st quarter. Vanguard Group Inc. now owns 15,031,207 shares of the semiconductor company’s stock valued at $1,084,201,000 after purchasing an additional 2,672,954 shares during the last quarter. BlackRock Inc. raised its stake in shares of Synopsys by 3,273.6% in the first quarter. BlackRock Inc. now owns 12,796,224 shares of the semiconductor company’s stock worth $922,991,000 after acquiring an additional 12,416,921 shares during the last quarter. State Street Corp raised its stake in shares of Synopsys by 19.9% in the first quarter. State Street Corp now owns 7,240,263 shares of the semiconductor company’s stock worth $522,251,000 after acquiring an additional 1,201,269 shares during the last quarter. Swedbank raised its stake in shares of Synopsys by 10.4% in the second quarter. Swedbank now owns 2,082,579 shares of the semiconductor company’s stock worth $151,882,000 after acquiring an additional 195,582 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Synopsys by 8.7% in the first quarter. AQR Capital Management LLC now owns 2,046,089 shares of the semiconductor company’s stock worth $147,584,000 after acquiring an additional 163,681 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.
Synopsys, Inc. (SNPS) traded down 0.51% during trading on Friday, hitting $79.80. 1,376,201 shares of the company traded hands. Synopsys, Inc. has a 12-month low of $56.03 and a 12-month high of $80.70. The company has a market capitalization of $11.99 billion, a P/E ratio of 37.46 and a beta of 0.99. The stock has a 50 day moving average price of $78.22 and a 200 day moving average price of $74.52.
Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, August 16th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.92. The company had revenue of $695.40 million for the quarter, compared to the consensus estimate of $691.22 million. Synopsys had a return on equity of 11.60% and a net margin of 12.37%. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the company earned $0.76 EPS. On average, equities analysts anticipate that Synopsys, Inc. will post $3.31 earnings per share for the current year.
Synopsys declared that its Board of Directors has approved a share buyback program on Friday, June 16th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
Several equities research analysts have recently commented on SNPS shares. Credit Suisse Group restated an “outperform” rating on shares of Synopsys in a report on Thursday, August 31st. BidaskClub upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Zacks Investment Research cut shares of Synopsys from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. HSBC Holdings plc reissued an “average” rating on shares of Synopsys in a research report on Thursday. Finally, J P Morgan Chase & Co reissued an “average” rating on shares of Synopsys in a research report on Friday, May 26th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Synopsys presently has an average rating of “Buy” and a consensus price target of $83.38.
In other Synopsys news, EVP Joseph W. Logan sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $76.99, for a total transaction of $384,950.00. Following the completion of the transaction, the executive vice president now owns 63,793 shares in the company, valued at approximately $4,911,423.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Chi-Foon Chan sold 3,750 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $77.50, for a total value of $290,625.00. Following the transaction, the chief executive officer now owns 200,429 shares of the company’s stock, valued at approximately $15,533,247.50. The disclosure for this sale can be found here. 1.82% of the stock is currently owned by company insiders.
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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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