Dimensional Fund Advisors LP Buys 18,609 Shares of Synopsys, Inc. (SNPS)
Dimensional Fund Advisors LP increased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 745,858 shares of the semiconductor company’s stock after buying an additional 18,609 shares during the quarter. Dimensional Fund Advisors LP owned 0.50% of Synopsys worth $54,398,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. grew its holdings in Synopsys by 11.9% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,382 shares of the semiconductor company’s stock worth $101,000 after buying an additional 147 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Synopsys by 40.4% during the 2nd quarter. IFP Advisors Inc now owns 1,441 shares of the semiconductor company’s stock valued at $105,000 after buying an additional 415 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. lifted its position in shares of Synopsys by 101.5% during the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,216 shares of the semiconductor company’s stock valued at $160,000 after buying an additional 1,116 shares during the last quarter. Advisor Group Inc. lifted its position in shares of Synopsys by 14.3% during the 2nd quarter. Advisor Group Inc. now owns 2,617 shares of the semiconductor company’s stock valued at $190,000 after buying an additional 327 shares during the last quarter. Finally, Global X Management Co. LLC lifted its position in shares of Synopsys by 45.8% during the 1st quarter. Global X Management Co. LLC now owns 3,047 shares of the semiconductor company’s stock valued at $220,000 after buying an additional 957 shares during the last quarter. Institutional investors and hedge funds own 88.83% of the company’s stock.
A number of brokerages have recently commented on SNPS. Zacks Investment Research raised Synopsys from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research report on Tuesday, October 3rd. HSBC Holdings plc reaffirmed an “average” rating on shares of Synopsys in a report on Thursday, September 14th. Credit Suisse Group reaffirmed an “outperform” rating on shares of Synopsys in a report on Thursday, August 31st. Royal Bank Of Canada raised their price target on Synopsys from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, August 17th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $83.00 price objective (up from $77.00) on shares of Synopsys in a research report on Thursday, August 17th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Synopsys presently has a consensus rating of “Buy” and an average target price of $84.00.
In other news, CEO Chi-Foon Chan sold 3,750 shares of Synopsys stock in a transaction that occurred 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 of the company’s stock, valued at approximately $15,533,247.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Joseph W. Logan sold 5,000 shares of Synopsys stock in a transaction that occurred 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 directly owns 63,793 shares in the company, valued at approximately $4,911,423.07. The disclosure for this sale can be found here. Company insiders own 1.82% of the company’s stock.
Shares of Synopsys, Inc. (NASDAQ SNPS) opened at 83.18 on Thursday. Synopsys, Inc. has a 12-month low of $56.03 and a 12-month high of $85.00. The company has a market cap of $12.50 billion, a price-to-earnings ratio of 39.05 and a beta of 1.00. The firm’s 50-day moving average price is $81.06 and its 200 day moving average price is $76.25.
Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, August 16th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.92. Synopsys had a return on equity of 11.60% and a net margin of 12.37%. The company had revenue of $695.40 million for the quarter, compared to analysts’ expectations of $691.22 million. During the same period in the previous year, the firm posted $0.76 EPS. Synopsys’s revenue was up 13.0% compared to the same quarter last year. On average, analysts predict that Synopsys, Inc. will post $3.31 earnings per share for the current year.
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Synopsys Company Profile
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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