Ethic Inc. Acquires 1,027 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Ethic Inc. raised its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 28.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,645 shares of the semiconductor company’s stock after buying an additional 1,027 shares during the period. Ethic Inc.’s holdings in Synopsys were worth $1,281,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. MUFG Securities EMEA plc boosted its position in shares of Synopsys by 4,476.3% during the second quarter. MUFG Securities EMEA plc now owns 51,117 shares of the semiconductor company’s stock worth $14,098,000 after purchasing an additional 50,000 shares in the last quarter. Barclays PLC increased its stake in shares of Synopsys by 33.8% during the 1st quarter. Barclays PLC now owns 235,192 shares of the semiconductor company’s stock worth $58,277,000 after purchasing an additional 59,431 shares during the last quarter. Bessemer Securities LLC acquired a new position in shares of Synopsys during the 1st quarter worth about $1,502,000. Eaton Vance Management grew its stake in Synopsys by 3.6% in the 1st quarter. Eaton Vance Management now owns 46,427 shares of the semiconductor company’s stock valued at $11,504,000 after buying an additional 1,614 shares during the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. grew its stake in Synopsys by 22.5% in the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 15,011 shares of the semiconductor company’s stock valued at $4,140,000 after buying an additional 2,760 shares during the last quarter. 84.88% of the stock is owned by institutional investors.

In other Synopsys news, CFO Trac Pham sold 17,831 shares of the stock in a transaction dated Thursday, June 24th. The stock was sold at an average price of $273.19, for a total value of $4,871,250.89. Following the sale, the chief financial officer now owns 48,978 shares of the company’s stock, valued at approximately $13,380,299.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Chi-Foon Chan sold 310 shares of the firm’s stock in a transaction that occurred on Monday, August 23rd. The stock was sold at an average price of $316.43, for a total value of $98,093.30. Following the transaction, the chief executive officer now owns 164,515 shares in the company, valued at approximately $52,057,481.45. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 347,230 shares of company stock valued at $108,939,023. Corporate insiders own 1.56% of the company’s stock.

A number of brokerages have recently weighed in on SNPS. Rosenblatt Securities upped their price target on shares of Synopsys from $314.00 to $349.00 and gave the stock a “buy” rating in a report on Wednesday, August 25th. HSBC restated an “average” rating on shares of Synopsys in a research report on Thursday, August 26th. Robert W. Baird upped their price target on shares of Synopsys from $320.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, August 19th. KeyCorp increased their price objective on shares of Synopsys from $320.00 to $347.00 and gave the stock an “overweight” rating in a research report on Thursday, August 19th. Finally, Westpark Capital assumed coverage on shares of Synopsys in a report on Thursday, July 15th. They issued a “buy” rating and a $340.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $318.75.

Shares of SNPS opened at $332.59 on Wednesday. The company has a 50 day simple moving average of $302.20 and a two-hundred day simple moving average of $268.47. Synopsys, Inc. has a 1 year low of $193.55 and a 1 year high of $340.66. The firm has a market cap of $50.72 billion, a P/E ratio of 69.29, a price-to-earnings-growth ratio of 4.47 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Tuesday, August 17th. The semiconductor company reported $1.81 earnings per share for the quarter, beating the 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 firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the company posted $1.74 earnings per share. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, equities research analysts expect that Synopsys, Inc. will post 4.66 EPS for the current year.

Synopsys announced that its Board of Directors has initiated a stock buyback plan on Thursday, June 17th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the semiconductor company to buy up to 1.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

About Synopsys

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.

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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