Synopsys, Inc. (SNPS) Holdings Trimmed by C M Bidwell & Associates Ltd.
C M Bidwell & Associates Ltd. trimmed its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,595 shares of the semiconductor company’s stock after selling 1,730 shares during the quarter. Synopsys accounts for about 1.9% of C M Bidwell & Associates Ltd.’s portfolio, making the stock its 10th largest position. C M Bidwell & Associates Ltd. owned 0.08% of Synopsys worth $9,087,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of SNPS. BlackRock Inc. grew its holdings in Synopsys by 3,273.6% during the 1st quarter. BlackRock Inc. now owns 12,796,224 shares of the semiconductor company’s stock worth $922,991,000 after acquiring an additional 12,416,921 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Synopsys by 14,458.8% during the 2nd quarter. Janus Henderson Group PLC now owns 3,226,957 shares of the semiconductor company’s stock worth $235,342,000 after acquiring an additional 3,204,792 shares during the last quarter. Vanguard Group Inc. grew its holdings in Synopsys by 21.6% during the 1st quarter. Vanguard Group Inc. now owns 15,031,207 shares of the semiconductor company’s stock worth $1,084,201,000 after acquiring an additional 2,672,954 shares during the last quarter. State Street Corp grew its holdings in Synopsys by 19.9% during the 1st quarter. State Street Corp now owns 7,240,263 shares of the semiconductor company’s stock worth $522,251,000 after acquiring an additional 1,201,269 shares during the last quarter. Finally, AJO LP grew its holdings in Synopsys by 132.1% during the 2nd quarter. AJO LP now owns 1,449,128 shares of the semiconductor company’s stock worth $105,685,000 after acquiring an additional 824,879 shares during the last quarter. 88.94% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have weighed in on SNPS. Royal Bank Of Canada boosted their target price on shares of Synopsys from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, August 17th. 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 report on Monday, August 21st. BidaskClub raised shares of Synopsys from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $83.00 price objective (up from $77.00) on shares of Synopsys in a research note on Thursday, August 17th. Finally, Credit Suisse Group reaffirmed a “positive” rating and issued a $90.00 price objective (up from $82.00) on shares of Synopsys in a research note on Tuesday, August 15th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $84.00.
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In other news, CEO Chi-Foon Chan sold 3,750 shares of the business’s stock in a transaction 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 owns 200,429 shares in the company, valued at approximately $15,533,247.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Joseph W. Logan sold 5,000 shares of the business’s stock in a transaction on Friday, August 18th. The shares were 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 approximately $4,911,423.07. The disclosure for this sale can be found here. Insiders own 1.82% of the company’s stock.
Shares of Synopsys, Inc. (NASDAQ SNPS) traded up 0.50% on Friday, reaching $82.48. 575,521 shares of the company traded hands. The stock’s 50 day moving average price is $79.87 and its 200-day moving average price is $75.53. Synopsys, Inc. has a one year low of $56.03 and a one year high of $82.55. The stock has a market capitalization of $12.39 billion, a P/E ratio of 38.72 and a beta of 1.00.
Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 16th. The semiconductor company reported $0.92 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.92. Synopsys had a net margin of 12.37% and a return on equity of 11.60%. The firm had revenue of $695.40 million for the quarter, compared to analysts’ expectations of $691.22 million. During the same quarter in the previous year, the business posted $0.76 EPS. The company’s quarterly revenue was up 13.0% on a year-over-year basis. Equities analysts forecast that Synopsys, Inc. will post $3.31 earnings per share for the current fiscal year.
Synopsys announced that its Board of Directors has approved a share buyback plan on Friday, June 16th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 4.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
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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