Victory Capital Management Inc. Sells 8,103 Shares of Synopsys, Inc. (SNPS)

Victory Capital Management Inc. cut its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 0.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,189,588 shares of the semiconductor company’s stock after selling 8,103 shares during the period. Victory Capital Management Inc. owned about 0.80% of Synopsys worth $117,305,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SNPS. Robecosam AG lifted its holdings in Synopsys by 22.4% in the 2nd quarter. Robecosam AG now owns 3,000 shares of the semiconductor company’s stock valued at $255,000 after purchasing an additional 550 shares in the last quarter. Intrust Bank NA lifted its holdings in Synopsys by 11.9% in the 2nd quarter. Intrust Bank NA now owns 5,681 shares of the semiconductor company’s stock valued at $486,000 after purchasing an additional 606 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in Synopsys by 3.0% in the 2nd quarter. CIBC Asset Management Inc now owns 23,635 shares of the semiconductor company’s stock valued at $2,022,000 after purchasing an additional 683 shares in the last quarter. Raymond James Trust N.A. lifted its holdings in Synopsys by 28.2% in the 2nd quarter. Raymond James Trust N.A. now owns 3,179 shares of the semiconductor company’s stock valued at $272,000 after purchasing an additional 699 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its holdings in Synopsys by 0.3% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 231,248 shares of the semiconductor company’s stock valued at $19,788,000 after purchasing an additional 756 shares in the last quarter. Institutional investors and hedge funds own 87.57% of the company’s stock.

A number of research analysts have issued reports on SNPS shares. BidaskClub upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. JPMorgan Chase & Co. upped their target price on shares of Synopsys to $98.00 and gave the company an “underweight” rating in a report on Thursday, August 23rd. KeyCorp upped their target price on shares of Synopsys from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, August 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $105.00 price objective (up previously from $100.00) on shares of Synopsys in a research note on Thursday, August 23rd. Finally, DA Davidson upped their price objective on shares of Synopsys to $110.00 and gave the company a “buy” rating in a research note on Thursday, August 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $107.00.

In related news, EVP Joseph W. Logan sold 20,000 shares of the stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $101.43, for a total transaction of $2,028,600.00. Following the completion of the sale, the executive vice president now owns 88,271 shares of the company’s stock, valued at approximately $8,953,327.53. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel John F. Runkel, Jr. sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $102.00, for a total transaction of $1,020,000.00. Following the sale, the general counsel now directly owns 22,322 shares of the company’s stock, valued at approximately $2,276,844. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,609 shares of company stock valued at $3,416,177. Corporate insiders own 1.84% of the company’s stock.

NASDAQ SNPS opened at $89.56 on Friday. Synopsys, Inc. has a 12 month low of $80.13 and a 12 month high of $103.40. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market cap of $13.31 billion, a PE ratio of 101.77, a P/E/G ratio of 3.52 and a beta of 1.27.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, August 22nd. The semiconductor company reported $0.95 EPS for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.03. Synopsys had a net margin of 1.92% and a return on equity of 5.52%. The company had revenue of $779.70 million during the quarter, compared to the consensus estimate of $773.61 million. During the same quarter in the prior year, the company posted $0.92 EPS. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, analysts expect that Synopsys, Inc. will post 1.57 earnings per share for the current fiscal year.

Synopsys Company Profile

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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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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