Baird Financial Group Inc. reduced its position in Synopsys, Inc. (NASDAQ:SNPS) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 491,219 shares of the semiconductor company’s stock after selling 6,415 shares during the period. Baird Financial Group Inc. owned about 0.33% of Synopsys worth $42,034,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Wells Fargo & Company MN increased its stake in shares of Synopsys by 39.3% in the first quarter. Wells Fargo & Company MN now owns 1,003,682 shares of the semiconductor company’s stock worth $83,547,000 after purchasing an additional 283,195 shares in the last quarter. Dupont Capital Management Corp boosted its position in shares of Synopsys by 25.5% during the first quarter. Dupont Capital Management Corp now owns 5,796 shares of the semiconductor company’s stock worth $482,000 after acquiring an additional 1,176 shares during the last quarter. Westpac Banking Corp boosted its position in shares of Synopsys by 26.3% during the first quarter. Westpac Banking Corp now owns 72,736 shares of the semiconductor company’s stock worth $6,055,000 after acquiring an additional 15,125 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Synopsys by 61.9% during the first quarter. SG Americas Securities LLC now owns 36,409 shares of the semiconductor company’s stock worth $3,031,000 after acquiring an additional 13,917 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Synopsys by 8.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 107,648 shares of the semiconductor company’s stock worth $8,931,000 after acquiring an additional 8,672 shares during the last quarter. 88.62% of the stock is currently owned by institutional investors.

In other Synopsys news, General Counsel John F. Runkel, Jr. sold 9,802 shares of the stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $90.00, for a total transaction of $882,180.00. Following the completion of the transaction, the general counsel now owns 22,373 shares in the company, valued at $2,013,570. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph W. Logan sold 20,000 shares of the stock in a transaction on Friday, August 24th. The shares were sold at an average price of $101.43, for a total transaction of $2,028,600.00. Following the transaction, the executive vice president now owns 88,271 shares of the company’s stock, valued at approximately $8,953,327.53. The disclosure for this sale can be found here. Insiders have sold 43,411 shares of company stock valued at $4,298,357 in the last quarter. 1.84% of the stock is owned by company insiders.

SNPS stock opened at $101.82 on Wednesday. Synopsys, Inc. has a 52 week low of $78.66 and a 52 week high of $102.91. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market cap of $15.18 billion, a price-to-earnings ratio of 115.14, a price-to-earnings-growth ratio of 6.51 and a beta of 1.17.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, August 22nd. The semiconductor company reported $0.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.03. Synopsys had a net margin of 1.92% and a return on equity of 5.52%. The business had revenue of $779.70 million during the quarter, compared to analyst estimates of $773.61 million. During the same quarter last year, the business earned $0.92 earnings per share. Synopsys’s quarterly revenue was up 12.1% compared to the same quarter last year. research analysts anticipate that Synopsys, Inc. will post 1.57 EPS for the current fiscal year.

A number of equities analysts recently weighed in on the stock. BidaskClub upgraded shares of Synopsys from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 28th. DA Davidson upped their target price on shares of Synopsys to $110.00 and gave the stock a “buy” rating in a research report on Thursday, August 23rd. Needham & Company LLC restated 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. KeyCorp upped their target price on shares of Synopsys from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, August 23rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Synopsys to $98.00 and gave the stock an “underweight” rating in a research report on Thursday, August 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Synopsys currently has an average rating of “Buy” and a consensus price target 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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