Synopsys, Inc. (SNPS) Holdings Held by Nicholas Investment Partners LP
Nicholas Investment Partners LP continued to hold its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,024 shares of the semiconductor company’s stock at the end of the 2nd quarter. Nicholas Investment Partners LP’s holdings in Synopsys were worth $3,138,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. lifted its stake in Synopsys by 11.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,382 shares of the semiconductor company’s stock worth $101,000 after purchasing an additional 147 shares during the last quarter. IFP Advisors Inc lifted 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 worth $105,000 after purchasing an additional 415 shares during the last quarter. Mckinley Capital Management LLC Delaware bought a new stake in Synopsys in the first quarter worth about $121,000. Robecosam AG lifted its stake in Synopsys by 10.0% in the first quarter. Robecosam AG now owns 2,200 shares of the semiconductor company’s stock worth $159,000 after purchasing an additional 200 shares during the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. lifted its stake in Synopsys by 101.5% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,216 shares of the semiconductor company’s stock worth $160,000 after purchasing an additional 1,116 shares during the last quarter. 88.94% of the stock is owned by institutional investors and hedge funds.
SNPS has been the subject of several analyst reports. BidaskClub downgraded shares of Synopsys from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Credit Suisse Group reaffirmed an “outperform” rating on shares of Synopsys in a research report on Thursday, August 31st. Zacks Investment Research raised shares of Synopsys from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research report on Monday, August 21st. J P Morgan Chase & Co reaffirmed an “average” rating on shares of Synopsys in a research report on Friday, May 26th. Finally, Royal Bank Of Canada raised their target price on shares of Synopsys from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, August 17th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Synopsys has a consensus rating of “Buy” and a consensus price target of $83.38.
Shares of Synopsys, Inc. (NASDAQ SNPS) traded down 0.37% during trading on Wednesday, reaching $80.85. 84,465 shares of the company traded hands. Synopsys, Inc. has a 52 week low of $56.03 and a 52 week high of $81.57. The firm’s 50 day moving average price is $78.47 and its 200-day moving average price is $74.70. The company has a market capitalization of $12.15 billion, a price-to-earnings ratio of 37.96 and a beta of 0.99.
Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, August 16th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.92. The company had revenue of $695.40 million for the quarter, compared to analyst estimates of $691.22 million. Synopsys had a net margin of 12.37% and a return on equity of 11.60%. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.76 EPS. Equities analysts anticipate that Synopsys, Inc. will post $3.31 EPS for the current fiscal year.
Synopsys announced that its Board of Directors has approved a share buyback plan on Friday, June 16th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase 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.
In other Synopsys news, CEO Chi-Foon Chan sold 3,750 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $77.50, for a total transaction of $290,625.00. Following the sale, the chief executive officer now directly owns 200,429 shares in the company, valued at approximately $15,533,247.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Joseph W. Logan sold 5,000 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $76.99, for a total transaction of $384,950.00. Following the sale, the executive vice president now owns 63,793 shares in the company, valued at $4,911,423.07. The disclosure for this sale can be found here. 1.82% of the stock is owned by corporate 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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