Korea Investment CORP cut its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 19.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 76,705 shares of the semiconductor company’s stock after selling 18,500 shares during the quarter. Korea Investment CORP owned approximately 0.05% of Synopsys worth $6,177,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of SNPS. Janus Henderson Group PLC grew its holdings in Synopsys by 14,458.8% in the second quarter. Janus Henderson Group PLC now owns 3,226,957 shares of the semiconductor company’s stock valued at $235,342,000 after purchasing an additional 3,204,792 shares during the period. AJO LP grew its holdings in Synopsys by 132.1% in the second quarter. AJO LP now owns 1,449,128 shares of the semiconductor company’s stock valued at $105,685,000 after purchasing an additional 824,879 shares during the period. Koch Industries Inc. purchased a new stake in Synopsys in the second quarter valued at approximately $485,000. Vanguard Group Inc. grew its holdings in Synopsys by 3.1% in the second quarter. Vanguard Group Inc. now owns 15,500,829 shares of the semiconductor company’s stock valued at $1,130,474,000 after purchasing an additional 469,622 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Synopsys by 94.7% in the second quarter. Renaissance Technologies LLC now owns 900,834 shares of the semiconductor company’s stock valued at $65,698,000 after purchasing an additional 438,100 shares during the period. Institutional investors and hedge funds own 88.73% of the company’s stock.

A number of equities research analysts recently issued reports on the stock. Royal Bank Of Canada upgraded shares of Synopsys from an “outperform” rating to a “top pick” rating and boosted their target price for the company from $90.00 to $100.00 in a report on Wednesday, October 25th. BidaskClub upgraded shares of Synopsys from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 17th. Credit Suisse Group restated a “positive” rating and issued a $90.00 target price (up from $82.00) on shares of Synopsys in a report on Tuesday, August 15th. Needham & Company LLC restated a “buy” rating and issued a $83.00 target price (up from $77.00) on shares of Synopsys in a report on Thursday, August 17th. Finally, Zacks Investment Research downgraded shares of Synopsys from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $85.25.

In related news, EVP Joseph W. Logan sold 5,000 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $76.99, for a total value of $384,950.00. Following the transaction, the executive vice president now owns 63,793 shares in the company, valued at $4,911,423.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Chi-Foon Chan sold 3,750 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $77.50, for a total value of $290,625.00. Following the completion of the transaction, the chief executive officer now owns 200,429 shares in the company, valued at approximately $15,533,247.50. The disclosure for this sale can be found here. Corporate insiders own 1.82% of the company’s stock.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, August 16th. The semiconductor company reported $0.92 EPS for the quarter, hitting analysts’ consensus estimates of $0.92. Synopsys had a return on equity of 11.60% and a net margin of 12.37%. The firm had revenue of $695.40 million for the quarter, compared to the consensus estimate of $691.22 million. During the same quarter in the prior year, the company posted $0.76 earnings per share. The firm’s revenue was up 13.0% on a year-over-year basis.

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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.

Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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