Exxonmobil Investment Management Inc. TX Decreases Position in Synopsys, Inc. (NASDAQ:SNPS)
Exxonmobil Investment Management Inc. TX lowered its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 13.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,859 shares of the semiconductor company’s stock after selling 4,561 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Synopsys were worth $2,105,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of SNPS. Dimensional Fund Advisors LP boosted its stake in shares of Synopsys by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 634,276 shares of the semiconductor company’s stock valued at $37,339,000 after buying an additional 19,830 shares in the last quarter. Dodge & Cox bought a new stake in shares of Synopsys during the fourth quarter worth approximately $678,107,000. USA Financial Portformulas Corp bought a new stake in shares of Synopsys during the fourth quarter worth approximately $872,000. Teachers Advisors LLC increased its stake in shares of Synopsys by 4.6% in the fourth quarter. Teachers Advisors LLC now owns 254,062 shares of the semiconductor company’s stock worth $14,954,000 after buying an additional 11,127 shares during the last quarter. Finally, Pensionfund Sabic bought a new stake in shares of Synopsys during the first quarter worth approximately $1,688,000. Institutional investors own 91.41% of the company’s stock.
Shares of Synopsys, Inc. (SNPS) opened at 75.66 on Wednesday. Synopsys, Inc. has a one year low of $53.53 and a one year high of $76.57. The firm has a market capitalization of $11.37 billion, a P/E ratio of 42.27 and a beta of 1.01. The company has a 50-day moving average price of $74.43 and a 200 day moving average price of $70.57.
Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, May 17th. The semiconductor company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.02. The company had revenue of $680.07 million during the quarter, compared to analyst estimates of $672.40 million. Synopsys had a net margin of 10.74% and a return on equity of 11.16%. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the business posted $0.81 EPS. Analysts expect that Synopsys, Inc. will post $3.28 earnings per share for the current fiscal year.
Synopsys declared that its Board of Directors has approved a stock repurchase program on Friday, June 16th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 4.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
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A number of equities analysts have commented on SNPS shares. Zacks Investment Research cut Synopsys from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. J P Morgan Chase & Co restated an “average” rating on shares of Synopsys in a research report on Friday, May 26th. Needham & Company LLC restated a “buy” rating and set a $77.00 price target (up from $76.00) on shares of Synopsys in a research report on Thursday, May 18th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $85.00 target price (up from $77.00) on shares of Synopsys in a report on Thursday, May 18th. Finally, BidaskClub lowered Synopsys from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $75.78.
In other news, Chairman Geus Aart De sold 264,000 shares of the firm’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $71.01, for a total transaction of $18,746,640.00. Following the transaction, the chairman now owns 220,133 shares in the company, valued at approximately $15,631,644.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel John F. Runkel, Jr. sold 10,000 shares of the firm’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $71.00, for a total transaction of $710,000.00. Following the transaction, the general counsel now owns 18,239 shares in the company, valued at approximately $1,294,969. The disclosure for this sale can be found here. Insiders have sold a total of 304,246 shares of company stock worth $21,608,505 in the last 90 days. 1.82% of the stock is owned by insiders.
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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