Monarch Partners Asset Management LLC purchased a new stake in Synopsys, Inc. (NASDAQ:SNPS) during the second quarter, Holdings Channel reports. The fund purchased 107,640 shares of the semiconductor company’s stock, valued at approximately $7,850,000.

Several other hedge funds also recently bought and sold shares of the company. IFP Advisors Inc boosted its stake in Synopsys by 40.4% in the second quarter. IFP Advisors Inc now owns 1,441 shares of the semiconductor company’s stock valued at $105,000 after buying an additional 415 shares in the last quarter. YorkBridge Wealth Partners LLC boosted its stake in Synopsys by 6.6% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,487 shares of the semiconductor company’s stock valued at $110,000 after buying an additional 92 shares in the last quarter. Mckinley Capital Management LLC Delaware bought a new stake in Synopsys during the first quarter valued at approximately $121,000. Robecosam AG boosted its stake in Synopsys by 10.0% in the first quarter. Robecosam AG now owns 2,200 shares of the semiconductor company’s stock valued at $159,000 after buying an additional 200 shares in the last quarter. Finally, SRS Capital Advisors Inc. boosted its stake in Synopsys by 14.4% in the first quarter. SRS Capital Advisors Inc. now owns 2,226 shares of the semiconductor company’s stock valued at $160,000 after buying an additional 281 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

Shares of Synopsys, Inc. (SNPS) opened at 76.27 on Friday. Synopsys, Inc. has a 1-year low of $55.44 and a 1-year high of $77.55. The firm has a 50-day moving average of $75.20 and a 200-day moving average of $72.33. The firm has a market capitalization of $11.46 billion, a PE ratio of 42.61 and a beta of 1.02.

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

Synopsys announced that its board has approved a stock repurchase plan on Friday, June 16th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 4.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

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Several analysts recently commented on the stock. BidaskClub cut shares of Synopsys from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $85.00 target price (up from $77.00) on shares of Synopsys in a research note on Thursday, May 18th. J P Morgan Chase & Co reiterated an “average” rating on shares of Synopsys in a research note on Friday, May 26th. Pacific Crest reiterated an “overweight” rating and issued a $86.00 target price (up from $78.00) on shares of Synopsys in a research note on Friday, May 19th. Finally, DA Davidson reiterated 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 eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $75.78.

In other Synopsys news, General Counsel John F. Runkel, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The stock was 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 of the company’s stock, valued at approximately $1,294,969. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Joseph W. Logan sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $71.05, for a total value of $355,250.00. Following the transaction, the executive vice president now directly owns 68,793 shares of the company’s stock, valued at approximately $4,887,742.65. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 304,246 shares of company stock valued at $21,608,505. Insiders own 1.82% of the company’s stock.

About Synopsys

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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