Amalgamated Bank trimmed its stake in Synopsys, Inc. (NASDAQ:SNPS) by 30.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,929 shares of the semiconductor company’s stock after selling 7,243 shares during the quarter. Amalgamated Bank’s holdings in Synopsys were worth $1,235,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Sawtooth Solutions LLC boosted its holdings in Synopsys by 0.3% in the second quarter. Sawtooth Solutions LLC now owns 3,220 shares of the semiconductor company’s stock worth $235,000 after acquiring an additional 9 shares in the last quarter. Alps Advisors Inc. boosted its holdings in Synopsys by 0.3% in the second quarter. Alps Advisors Inc. now owns 6,767 shares of the semiconductor company’s stock worth $494,000 after acquiring an additional 18 shares in the last quarter. Ifrah Financial Services Inc. boosted its holdings in Synopsys by 1.2% in the second quarter. Ifrah Financial Services Inc. now owns 5,204 shares of the semiconductor company’s stock worth $380,000 after acquiring an additional 62 shares in the last quarter. Cypress Wealth Advisors LLC boosted its holdings in Synopsys by 1.7% in the first quarter. Cypress Wealth Advisors LLC now owns 4,763 shares of the semiconductor company’s stock worth $344,000 after acquiring an additional 81 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in Synopsys by 3.2% in the first quarter. Pacer Advisors Inc. now owns 2,861 shares of the semiconductor company’s stock worth $206,000 after acquiring an additional 88 shares in the last quarter. 88.94% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Chi-Foon Chan sold 3,750 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $77.50, for a total value of $290,625.00. Following the completion of the sale, the chief executive officer now owns 200,429 shares of the company’s stock, valued at approximately $15,533,247.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph W. Logan sold 5,000 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $76.99, for a total value of $384,950.00. Following the completion of the sale, the executive vice president now directly owns 63,793 shares of the company’s stock, valued at approximately $4,911,423.07. The disclosure for this sale can be found here. 1.82% of the stock is owned by company insiders.

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Several research analysts have recently weighed in on SNPS shares. Zacks Investment Research upgraded Synopsys from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research note on Friday. Credit Suisse Group restated a “positive” rating and issued a $90.00 price target (up previously from $82.00) on shares of Synopsys in a research note on Tuesday, August 15th. BidaskClub upgraded Synopsys from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 17th. HSBC Holdings plc restated an “average” rating on shares of Synopsys in a research note on Thursday, September 14th. Finally, Needham & Company LLC restated a “buy” rating and issued a $83.00 price target (up previously from $77.00) on shares of Synopsys in a research note on Thursday, August 17th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Synopsys presently has a consensus rating of “Buy” and an average price target of $83.88.

Synopsys, Inc. (SNPS) opened at 80.36 on Friday. The stock has a market cap of $12.07 billion, a PE ratio of 37.73 and a beta of 0.99. The stock has a 50 day moving average price of $78.47 and a 200 day moving average price of $74.70. Synopsys, Inc. has a 1-year low of $56.03 and a 1-year high of $81.57.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, August 16th. The semiconductor company reported $0.92 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.92. The firm had revenue of $695.40 million during the quarter, compared to analysts’ expectations of $691.22 million. Synopsys had a return on equity of 11.60% and a net margin of 12.37%. The business’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.76 EPS. On average, analysts predict that Synopsys, Inc. will post $3.31 EPS for the current fiscal year.

Synopsys announced that its board has authorized a share buyback program on Friday, June 16th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the semiconductor company to buy up to 4.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.

Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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