Comerica Bank boosted its position in Synopsys, Inc. (NASDAQ:SNPS) by 29.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,930 shares of the semiconductor company’s stock after purchasing an additional 14,418 shares during the period. Comerica Bank’s holdings in Synopsys were worth $5,796,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Synopsys by 3.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 493,188 shares of the semiconductor company’s stock worth $42,202,000 after purchasing an additional 16,748 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its holdings in shares of Synopsys by 59.2% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 332,631 shares of the semiconductor company’s stock worth $28,463,000 after purchasing an additional 123,669 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in shares of Synopsys in the second quarter worth $220,000. State of New Jersey Common Pension Fund D increased its holdings in shares of Synopsys by 318.4% in the second quarter. State of New Jersey Common Pension Fund D now owns 446,800 shares of the semiconductor company’s stock worth $38,233,000 after purchasing an additional 340,000 shares during the period. Finally, New Jersey Better Educational Savings Trust bought a new position in shares of Synopsys in the second quarter worth $342,000. Institutional investors and hedge funds own 89.16% of the company’s stock.
Synopsys opened at $93.53 on Friday, according to MarketBeat. The firm has a market capitalization of $13.84 billion, a P/E ratio of 106.28, a PEG ratio of 5.62 and a beta of 1.12. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.04. Synopsys, Inc. has a 52 week low of $75.63 and a 52 week high of $94.80.
In other Synopsys news, General Counsel John F. Runkel, Jr. sold 9,802 shares of the company’s stock in a transaction dated Thursday, June 7th. The shares were sold at an average price of $90.00, for a total transaction of $882,180.00. Following the completion of the sale, the general counsel now directly owns 22,373 shares in the company, valued at $2,013,570. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Joseph W. Logan sold 20,000 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 88,271 shares of the company’s stock, valued at $7,796,977.43. The disclosure for this sale can be found here. In the last three months, insiders sold 72,633 shares of company stock worth $6,421,334. 1.84% of the stock is owned by insiders.
Several research analysts have recently weighed in on the stock. BidaskClub raised shares of Synopsys from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. KeyCorp upped their price target on shares of Synopsys from $110.00 to $112.00 and gave the stock an “overweight” rating in a report on Thursday, May 24th. Credit Suisse Group upped their price target on shares of Synopsys from $100.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday, May 24th. Zacks Investment Research cut Synopsys from a “buy” rating to a “hold” rating in a research note on Wednesday, May 23rd. Finally, TheStreet raised Synopsys from a “c+” rating to a “b” rating in a research note on Wednesday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $102.71.
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.
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