Profund Advisors LLC Buys 1,919 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Profund Advisors LLC lifted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 17.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,835 shares of the semiconductor company’s stock after buying an additional 1,919 shares during the quarter. Profund Advisors LLC’s holdings in Synopsys were worth $1,652,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. APG Asset Management N.V. raised its stake in shares of Synopsys by 15.0% in the second quarter. APG Asset Management N.V. now owns 116,408 shares of the semiconductor company’s stock worth $13,155,000 after buying an additional 15,200 shares during the period. Parametric Portfolio Associates LLC raised its stake in shares of Synopsys by 3.0% in the second quarter. Parametric Portfolio Associates LLC now owns 313,941 shares of the semiconductor company’s stock worth $40,401,000 after buying an additional 9,219 shares during the period. MML Investors Services LLC raised its stake in shares of Synopsys by 3.2% in the second quarter. MML Investors Services LLC now owns 6,787 shares of the semiconductor company’s stock worth $873,000 after buying an additional 208 shares during the period. Ossiam raised its stake in shares of Synopsys by 301.8% in the second quarter. Ossiam now owns 1,089 shares of the semiconductor company’s stock worth $140,000 after buying an additional 818 shares during the period. Finally, Seeyond raised its stake in shares of Synopsys by 46.9% in the second quarter. Seeyond now owns 6,347 shares of the semiconductor company’s stock worth $817,000 after buying an additional 2,027 shares during the period. 89.84% of the stock is currently owned by hedge funds and other institutional investors.

SNPS traded down $2.75 on Friday, hitting $134.64. 1,014,494 shares of the company’s stock traded hands, compared to its average volume of 1,183,550. The company’s 50 day simple moving average is $134.92 and its 200-day simple moving average is $123.53. The firm has a market cap of $20.65 billion, a price-to-earnings ratio of 47.74, a P/E/G ratio of 3.63 and a beta of 1.23. Synopsys, Inc. has a one year low of $79.14 and a one year high of $146.66. The company has a current ratio of 0.99, a quick ratio of 0.90 and a debt-to-equity ratio of 0.03.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.03. The company had revenue of $853.00 million for the quarter, compared to the consensus estimate of $831.03 million. Synopsys had a return on equity of 16.56% and a net margin of 18.94%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the company earned $0.95 EPS. As a group, equities analysts anticipate that Synopsys, Inc. will post 3.11 EPS for the current fiscal year.

In related news, Director Roy Vallee sold 15,596 shares of Synopsys stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $128.95, for a total transaction of $2,011,104.20. Following the sale, the director now owns 52,641 shares of the company’s stock, valued at approximately $6,788,056.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven Walske sold 2,453 shares of Synopsys stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $126.54, for a total value of $310,402.62. Following the sale, the director now directly owns 14,038 shares in the company, valued at approximately $1,776,368.52. The disclosure for this sale can be found here. Insiders have sold a total of 51,881 shares of company stock worth $6,932,729 in the last three months. 1.84% of the stock is owned by corporate insiders.

Several research analysts have recently commented on SNPS shares. Bank of America reaffirmed an “average” rating on shares of Synopsys in a research note on Wednesday, June 5th. Needham & Company LLC raised their price objective on Synopsys from $125.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Credit Suisse Group reaffirmed a “positive” rating and issued a $150.00 price objective (up previously from $125.00) on shares of Synopsys in a research note on Thursday, August 22nd. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $160.00 price objective (up previously from $150.00) on shares of Synopsys in a research note on Thursday, August 22nd. Finally, JPMorgan Chase & Co. raised their price objective on Synopsys from $138.00 to $157.00 and gave the stock a “neutral” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $143.10.

Synopsys Profile

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits (ICs). It offers Fusion Design Platform, a digital design implementation solution; 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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