UBS Group AG cut its stake in Synopsys, Inc. (NASDAQ:SNPS) by 9.2% during the first quarter, Holdings Channel reports. The fund owned 80,438 shares of the semiconductor company’s stock after selling 8,182 shares during the period. UBS Group AG’s holdings in Synopsys were worth $5,802,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Synopsys by 21.6% in the first quarter. Vanguard Group Inc. now owns 15,031,207 shares of the semiconductor company’s stock valued at $1,084,201,000 after buying an additional 2,672,954 shares during the last quarter. Dodge & Cox purchased a new stake in Synopsys during the fourth quarter valued at approximately $678,107,000. Swedbank purchased a new stake in Synopsys during the first quarter valued at approximately $136,109,000. Geode Capital Management LLC boosted its stake in Synopsys by 31.3% in the first quarter. Geode Capital Management LLC now owns 1,850,973 shares of the semiconductor company’s stock valued at $133,356,000 after buying an additional 440,739 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Synopsys by 5.4% in the first quarter. Victory Capital Management Inc. now owns 1,709,668 shares of the semiconductor company’s stock valued at $123,318,000 after buying an additional 88,133 shares during the last quarter. 92.38% of the stock is owned by hedge funds and other institutional investors.

Shares of Synopsys, Inc. (SNPS) opened at 74.52 on Tuesday. The stock has a market capitalization of $11.20 billion, a PE ratio of 41.63 and a beta of 0.98. The company’s 50-day moving average is $74.21 and its 200-day moving average is $68.55. Synopsys, Inc. has a 12 month low of $50.97 and a 12 month high of $76.57.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, May 17th. The semiconductor company reported $0.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.02. Synopsys had a net margin of 10.74% and a return on equity of 11.16%. The company had revenue of $680.07 million for the quarter, compared to analyst estimates of $672.40 million. During the same quarter in the prior year, the business posted $0.81 EPS. Synopsys’s quarterly revenue was up 12.4% on a year-over-year basis. Equities research analysts expect that Synopsys, Inc. will post $3.28 earnings per share for the current fiscal year.

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Several analysts have commented on SNPS shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $76.00 target price on shares of Synopsys in a research note on Monday, April 17th. Zacks Investment Research cut shares of Synopsys from a “buy” rating to a “hold” rating in a research note on Tuesday, May 16th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $77.00 target price on shares of Synopsys in a research note on Tuesday, March 14th. Bank of America Corporation reaffirmed a “buy” rating and issued a $87.00 target price (up from $80.00) on shares of Synopsys in a research note on Friday, May 19th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $85.00 target price (up from $77.00) on shares of Synopsys in a research note on Friday, May 19th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $75.78.

In related news, Director John Schwarz sold 21,496 shares of the firm’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $71.20, for a total value of $1,530,515.20. Following the transaction, the director now directly owns 19,324 shares in the company, valued at approximately $1,375,868.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel John F. Runkel, Jr. sold 10,000 shares of the firm’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $71.00, for a total transaction of $710,000.00. Following the completion of the transaction, the general counsel now owns 18,239 shares in the company, valued at $1,294,969. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 304,246 shares of company stock worth $21,608,505. 1.82% of the stock is currently owned by company insiders.

Synopsys Company Profile

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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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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