Seven Eight Capital LP trimmed its stake in Synopsys, Inc. (NASDAQ:SNPS) by 32.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,400 shares of the semiconductor company’s stock after selling 8,500 shares during the period. Seven Eight Capital LP’s holdings in Synopsys were worth $1,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. boosted its position in Synopsys by 11.9% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,382 shares of the semiconductor company’s stock valued at $101,000 after buying an additional 147 shares during the period. IFP Advisors Inc boosted its position in Synopsys by 40.4% in the 2nd quarter. IFP Advisors Inc now owns 1,441 shares of the semiconductor company’s stock valued at $105,000 after buying an additional 415 shares during the period. Mckinley Capital Management LLC Delaware purchased a new stake in Synopsys in the 1st quarter valued at about $121,000. Robecosam AG boosted its position in Synopsys by 10.0% in the 1st 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 period. Finally, OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in Synopsys by 101.5% in the 1st 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 period. 88.95% of the stock is owned by institutional investors.
Several equities research analysts have issued reports on the stock. HSBC Holdings plc reissued an “average” rating on shares of Synopsys in a research report on Thursday. Royal Bank Of Canada restated an “outperform” rating and issued a $85.00 price target (up previously from $77.00) on shares of Synopsys in a report on Thursday, May 18th. Credit Suisse Group restated a “positive” rating and issued a $90.00 price target (up previously from $82.00) on shares of Synopsys in a report on Tuesday, August 15th. BidaskClub upgraded shares of Synopsys from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 17th. Finally, Needham & Company LLC restated a “buy” rating and issued a $83.00 price target (up previously from $77.00) on shares of Synopsys in a report on Thursday, August 17th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $83.38.
Shares of Synopsys, Inc. (NASDAQ:SNPS) opened at 80.20 on Friday. The company has a market cap of $12.05 billion, a price-to-earnings ratio of 37.65 and a beta of 0.99. Synopsys, Inc. has a 12-month low of $56.03 and a 12-month high of $80.70. The stock has a 50 day moving average of $78.13 and a 200 day moving average of $74.47.
Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, August 16th. The semiconductor company reported $0.92 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.92. Synopsys had a net margin of 12.37% and a return on equity of 11.60%. The business had revenue of $695.40 million during the quarter, compared to analyst estimates of $691.22 million. During the same quarter last year, the firm posted $0.76 earnings per share. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. Analysts forecast that Synopsys, Inc. will post $3.31 earnings per share for the current year.
Synopsys declared that its Board of Directors has initiated a share repurchase program on Friday, June 16th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the semiconductor company to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
In related news, CEO Chi-Foon Chan sold 3,750 shares of Synopsys 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 completion of the transaction, the chief executive officer now owns 200,429 shares in the company, valued at $15,533,247.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Joseph W. Logan sold 5,000 shares of Synopsys 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 of the company’s stock, valued at approximately $4,911,423.07. The disclosure for this sale can be found here. Company 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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