Deutsche Bank AG Boosts Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Deutsche Bank AG boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 14.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 981,317 shares of the semiconductor company’s stock after buying an additional 125,140 shares during the quarter. Deutsche Bank AG’s holdings in Synopsys were worth $270,639,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Valley National Advisers Inc. boosted its stake in Synopsys by 326.9% during the second quarter. Valley National Advisers Inc. now owns 111 shares of the semiconductor company’s stock worth $31,000 after buying an additional 85 shares during the period. Deseret Mutual Benefit Administrators bought a new stake in shares of Synopsys during the second quarter worth $43,000. Logan Capital Management Inc. bought a new stake in shares of Synopsys during the first quarter worth $49,000. Newfound Research LLC lifted its position in shares of Synopsys by 77.0% during the second quarter. Newfound Research LLC now owns 269 shares of the semiconductor company’s stock worth $74,000 after purchasing an additional 117 shares during the last quarter. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of Synopsys during the second quarter worth $77,000. 84.88% of the stock is owned by institutional investors.

In other news, CFO Trac Pham sold 17,831 shares of the company’s stock in a transaction that occurred on Thursday, June 24th. The stock was sold at an average price of $273.19, for a total transaction of $4,871,250.89. Following the completion of the transaction, the chief financial officer now directly owns 48,978 shares of the company’s stock, valued at approximately $13,380,299.82. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Chi-Foon Chan sold 278,642 shares of the company’s stock in a transaction that occurred on Friday, August 20th. The stock was sold at an average price of $314.98, for a total value of $87,766,657.16. Following the transaction, the chief executive officer now directly owns 164,515 shares of the company’s stock, valued at $51,818,934.70. The disclosure for this sale can be found here. Insiders have sold 351,468 shares of company stock worth $110,350,277 in the last 90 days. Insiders own 1.56% of the company’s stock.

Shares of Synopsys stock opened at $317.90 on Wednesday. Synopsys, Inc. has a one year low of $196.46 and a one year high of $340.66. The company has a market capitalization of $48.48 billion, a PE ratio of 66.23, a P/E/G ratio of 4.47 and a beta of 1.08. The company has a 50-day simple moving average of $307.00 and a two-hundred day simple moving average of $271.57.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Tuesday, August 17th. The semiconductor company reported $1.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.03. Synopsys had a return on equity of 15.03% and a net margin of 18.48%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the firm earned $1.74 earnings per share. The company’s revenue was up 9.6% on a year-over-year basis. On average, equities research analysts predict that Synopsys, Inc. will post 4.66 EPS for the current year.

Synopsys declared that its board has approved a stock buyback plan on Thursday, June 17th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the semiconductor company to purchase up to 1.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

SNPS has been the subject of several research analyst reports. KeyCorp lifted their target price on Synopsys from $320.00 to $347.00 and gave the stock an “overweight” rating in a research report on Thursday, August 19th. Westpark Capital began coverage on Synopsys in a research report on Thursday, July 15th. They set a “buy” rating and a $340.00 target price for the company. Wells Fargo & Company lifted their price objective on Synopsys from $325.00 to $340.00 and gave the company an “overweight” rating in a report on Thursday, August 19th. Bank of America downgraded Synopsys from a “neutral” rating to an “underperform” rating and set a $315.00 price objective for the company. in a report on Friday, September 17th. Finally, HSBC restated an “average” rating on shares of Synopsys in a report on Thursday, August 26th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $322.50.

Synopsys Profile

Synopsys, Inc engages in the provision of software products and consulting services in the electronic design automation industry. The firm operates through the following segments: Semiconductor and System Design, and Software Integrity. It provides intellectual property products, which are pre-designed circuits that engineers use as components of larger chip designs, as well as software and hardware that are used to develop the electronic systems that incorporate chips and the software that runs on the circuits.

See Also: Return on Equity (ROE)

Want to see what other hedge funds are holding SNPS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synopsys, Inc. (NASDAQ:SNPS).

Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

Receive News & Ratings for Synopsys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synopsys and related companies with MarketBeat.com's FREE daily email newsletter.