IBM Retirement Fund decreased its stake in Synopsys Inc. (NASDAQ:SNPS) by 2.6% during the second quarter, Holdings Channel reports. The firm owned 15,277 shares of the company’s stock after selling 402 shares during the period. IBM Retirement Fund’s holdings in Synopsys were worth $826,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNPS. Invictus RG raised its position in Synopsys by 751.3% in the first quarter. Invictus RG now owns 2,869 shares of the company’s stock valued at $139,000 after buying an additional 2,532 shares during the last quarter. Optimum Investment Advisors raised its position in Synopsys by 2.4% in the first quarter. Optimum Investment Advisors now owns 6,500 shares of the company’s stock valued at $315,000 after buying an additional 150 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in Synopsys during the first quarter valued at approximately $392,000. Prudential PLC raised its position in Synopsys by 13.3% in the first quarter. Prudential PLC now owns 8,500 shares of the company’s stock valued at $412,000 after buying an additional 1,000 shares during the last quarter. Finally, M&T Bank Corp raised its position in Synopsys by 17.0% in the first quarter. M&T Bank Corp now owns 9,350 shares of the company’s stock valued at $453,000 after buying an additional 1,361 shares during the last quarter. 91.07% of the stock is owned by institutional investors.

Shares of Synopsys Inc. (NASDAQ:SNPS) traded down 0.68% during mid-day trading on Friday, reaching $58.00. 1,057,789 shares of the company traded hands. The firm’s 50 day moving average price is $56.98 and its 200-day moving average price is $51.74. The company has a market capitalization of $8.78 billion, a P/E ratio of 36.99 and a beta of 0.89. Synopsys Inc. has a 52-week low of $39.26 and a 52-week high of $60.00.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, August 17th. The company reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.02. Synopsys had a net margin of 10.27% and a return on equity of 12.15%. The company earned $615.20 million during the quarter, compared to the consensus estimate of $602.89 million. During the same quarter in the prior year, the company posted $0.63 EPS. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. Equities analysts predict that Synopsys Inc. will post $3.02 earnings per share for the current fiscal year.

Several research firms have recently commented on SNPS. Zacks Investment Research lowered shares of Synopsys from a “buy” rating to a “hold” rating in a research note on Tuesday, August 23rd. KeyCorp raised their price objective on shares of Synopsys from $60.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, August 18th. Pacific Crest raised their price objective on shares of Synopsys from $60.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, August 18th. Benchmark Co. raised their price objective on shares of Synopsys from $50.00 to $60.00 and gave the company a “hold” rating in a research note on Thursday, August 18th. Finally, Needham & Company LLC raised their price objective on shares of Synopsys from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, August 18th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $61.00.

In other news, VP Sudhindra Kankanwadi sold 3,409 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $58.55, for a total transaction of $199,596.95. Following the completion of the transaction, the vice president now owns 4,148 shares of the company’s stock, valued at approximately $242,865.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Alfred Castino sold 10,000 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $58.44, for a total transaction of $584,400.00. Following the transaction, the director now directly owns 27,982 shares of the company’s stock, valued at approximately $1,635,268.08. The disclosure for this sale can be found here. Insiders own 1.62% 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.

5 Day Chart for NASDAQ:SNPS

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