Tokio Marine Asset Management Co. Ltd. Has $361,000 Stake in Synopsys Inc. (SNPS)
Tokio Marine Asset Management Co. Ltd. continued to hold its stake in shares of Synopsys Inc. (NASDAQ:SNPS) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 6,681 shares of the company’s stock at the end of the second quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Synopsys were worth $361,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Invictus RG boosted its stake in shares of Synopsys by 751.3% in the first quarter. Invictus RG now owns 2,869 shares of the company’s stock valued at $139,000 after buying an additional 2,532 shares in the last quarter. Calamos Advisors LLC acquired a new stake in shares of Synopsys during the second quarter worth $211,000. Meeder Asset Management Inc. acquired a new stake in shares of Synopsys during the second quarter worth $219,000. Optimum Investment Advisors boosted its stake in shares of Synopsys by 2.4% in the first quarter. Optimum Investment Advisors now owns 6,500 shares of the company’s stock worth $315,000 after buying an additional 150 shares during the period. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Synopsys during the first quarter worth $392,000. 91.01% of the stock is owned by institutional investors.
Shares of Synopsys Inc. (NASDAQ:SNPS) traded up 0.32% during midday trading on Wednesday, hitting $59.76. 481,258 shares of the stock were exchanged. The stock’s 50 day moving average is $59.13 and its 200 day moving average is $53.61. The firm has a market cap of $9.04 billion, a P/E ratio of 38.11 and a beta of 0.89. Synopsys Inc. has a 12-month low of $39.26 and a 12-month high of $61.36.
Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, August 17th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. Synopsys had a net margin of 10.27% and a return on equity of 12.15%. The company earned $615.20 million during the quarter, compared to the consensus estimate of $602.89 million. During the same quarter in the prior year, the firm earned $0.63 EPS. The company’s revenue was up 10.7% compared to the same quarter last year. On average, equities research analysts forecast that Synopsys Inc. will post $3.02 earnings per share for the current fiscal year.
SNPS has been the subject of a number of research reports. DA Davidson reaffirmed a “buy” rating and set a $75.00 price target (up from $64.00) on shares of Synopsys in a research report on Wednesday. Needham & Company LLC upped their price target on shares of Synopsys from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 18th. Zacks Investment Research raised shares of Synopsys from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research report on Tuesday, July 12th. Benchmark Co. upped their price target on shares of Synopsys from $50.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, August 18th. Finally, KeyCorp upped their price target on shares of Synopsys from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, August 18th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $62.38.
In other Synopsys news, Director Alfred Castino sold 10,000 shares of the stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $58.44, for a total value of $584,400.00. Following the completion of the sale, the director now owns 27,982 shares in the company, valued at approximately $1,635,268.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Brian M. Beattie sold 63,125 shares of the stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $59.18, for a total transaction of $3,735,737.50. Following the completion of the sale, the executive vice president now owns 74,500 shares of the company’s stock, valued at approximately $4,408,910. The disclosure for this sale can be found here. 1.62% of the stock is currently owned by company insiders.
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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