Mitsubishi UFJ Trust & Banking Corp cut its position in Synopsys, Inc. (NASDAQ:SNPS) by 8.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 368,936 shares of the semiconductor company’s stock after selling 35,214 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.25% of Synopsys worth $26,907,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SNPS. IFP Advisors Inc increased its position in Synopsys by 40.4% in the second quarter. IFP Advisors Inc now owns 1,441 shares of the semiconductor company’s stock worth $105,000 after buying an additional 415 shares during the period. YorkBridge Wealth Partners LLC increased its position in Synopsys by 6.6% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,487 shares of the semiconductor company’s stock worth $110,000 after buying an additional 92 shares during the period. Mckinley Capital Management LLC Delaware purchased a new position in Synopsys during the first quarter worth about $121,000. Robecosam AG increased its position in Synopsys by 10.0% in the first quarter. Robecosam AG now owns 2,200 shares of the semiconductor company’s stock worth $159,000 after buying an additional 200 shares during the period. Finally, SRS Capital Advisors Inc. increased its position in Synopsys by 14.4% in the first quarter. SRS Capital Advisors Inc. now owns 2,226 shares of the semiconductor company’s stock worth $160,000 after buying an additional 281 shares during the period. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Synopsys, Inc. (SNPS) opened at 80.41 on Friday. The stock has a market capitalization of $12.08 billion, a P/E ratio of 37.75 and a beta of 0.99. The company’s 50-day moving average price is $77.24 and its 200 day moving average price is $73.90. Synopsys, Inc. has a 52-week low of $56.03 and a 52-week high of $80.70.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, August 16th. The semiconductor company reported $0.92 EPS for the quarter, meeting the consensus estimate of $0.92. Synopsys had a net margin of 12.37% and a return on equity of 11.60%. The company had revenue of $695.40 million for the quarter, compared to analyst estimates of $691.22 million. During the same period in the prior year, the company earned $0.76 earnings per share. The firm’s revenue was up 13.0% on a year-over-year basis. On average, equities research analysts predict that Synopsys, Inc. will post $3.31 earnings per share for the current fiscal year.

Synopsys announced that its board has approved a stock repurchase plan on Friday, June 16th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

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A number of research firms have recently issued reports on SNPS. BidaskClub downgraded Synopsys from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Royal Bank Of Canada restated an “outperform” rating and issued a $85.00 price target (up from $77.00) on shares of Synopsys in a research note on Thursday, May 18th. Zacks Investment Research upgraded Synopsys from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research note on Monday, August 21st. J P Morgan Chase & Co restated an “average” rating on shares of Synopsys in a research note on Friday, May 26th. Finally, Pacific Crest restated an “overweight” rating and issued a $86.00 price target (up from $78.00) on shares of Synopsys in a research note on Friday, May 19th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $83.38.

In other Synopsys news, CEO Chi-Foon Chan sold 3,750 shares of the company’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $77.50, for a total value of $290,625.00. Following the sale, the chief executive officer now directly owns 200,429 shares of the company’s stock, valued at $15,533,247.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Joseph W. Logan sold 5,000 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 63,793 shares in the company, valued at $4,911,423.07. The disclosure for this sale can be found here. 1.82% of the stock is currently owned by corporate insiders.

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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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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