Dorsey Wright & Associates lifted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 3.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 38,523 shares of the semiconductor company’s stock after buying an additional 1,299 shares during the period. Dorsey Wright & Associates’ holdings in Synopsys were worth $3,799,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Synopsys by 5.2% during the second quarter. BlackRock Inc. now owns 14,683,291 shares of the semiconductor company’s stock valued at $1,256,450,000 after buying an additional 731,655 shares during the last quarter. Swedbank boosted its position in shares of Synopsys by 11.1% during the second quarter. Swedbank now owns 2,899,024 shares of the semiconductor company’s stock valued at $248,069,000 after buying an additional 290,000 shares during the last quarter. Alkeon Capital Management LLC boosted its position in shares of Synopsys by 2.8% during the first quarter. Alkeon Capital Management LLC now owns 2,518,350 shares of the semiconductor company’s stock valued at $209,627,000 after buying an additional 67,425 shares during the last quarter. Northern Trust Corp boosted its position in shares of Synopsys by 0.3% during the second quarter. Northern Trust Corp now owns 1,864,897 shares of the semiconductor company’s stock valued at $159,580,000 after buying an additional 6,262 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Synopsys by 1.1% during the second quarter. Wells Fargo & Company MN now owns 1,014,451 shares of the semiconductor company’s stock valued at $86,805,000 after buying an additional 10,769 shares during the last quarter. 88.62% of the stock is currently owned by institutional investors.

SNPS stock opened at $88.12 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.70 and a current ratio of 0.70. Synopsys, Inc. has a 1-year low of $80.13 and a 1-year high of $103.40. The firm has a market capitalization of $14.65 billion, a price-to-earnings ratio of 100.14, a price-to-earnings-growth ratio of 6.28 and a beta of 1.18.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, August 22nd. The semiconductor company reported $0.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.03. Synopsys had a return on equity of 5.52% and a net margin of 1.92%. The business had revenue of $779.70 million for the quarter, compared to analysts’ expectations of $773.61 million. During the same quarter in the previous year, the firm earned $0.92 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. As a group, research analysts predict that Synopsys, Inc. will post 1.57 earnings per share for the current year.

In other Synopsys news, CEO Chi-Foon Chan sold 3,609 shares of the business’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $101.85, for a total value of $367,576.65. Following the transaction, the chief executive officer now owns 202,135 shares of the company’s stock, valued at $20,587,449.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel John F. Runkel, Jr. sold 10,000 shares of the business’s stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $102.00, for a total value of $1,020,000.00. Following the completion of the transaction, the general counsel now directly owns 22,322 shares in the company, valued at approximately $2,276,844. The disclosure for this sale can be found here. In the last three months, insiders sold 33,609 shares of company stock worth $3,416,177. Insiders own 1.84% of the company’s stock.

Several research analysts recently issued reports on the company. BidaskClub cut Synopsys from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. KeyCorp lifted their target price on Synopsys from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, August 23rd. JPMorgan Chase & Co. lifted their target price on Synopsys to $98.00 and gave the company an “underweight” rating in a research report on Thursday, August 23rd. DA Davidson lifted their target price on Synopsys to $110.00 and gave the company a “buy” rating in a research report on Thursday, August 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $105.00 target price (up previously from $100.00) on shares of Synopsys in a research report on Thursday, August 23rd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $106.14.

Synopsys Profile

Synopsys, Inc provides electronic design automation (EDA) software products used to design and test integrated circuits (ICs). It offers Galaxy Design platform that offers IC design solutions; Verification Continuum Platform, which provides virtual prototyping, static and formal verification, simulation, emulation, field-programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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