Optimum Investment Advisors cut its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,100 shares of the semiconductor company’s stock after selling 150 shares during the period. Optimum Investment Advisors’ holdings in Synopsys were worth $372,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in Synopsys by 3,273.6% during the first quarter. BlackRock Inc. now owns 12,796,224 shares of the semiconductor company’s stock valued at $922,991,000 after purchasing an additional 12,416,921 shares during the period. Vanguard Group Inc. increased its position in Synopsys by 21.6% in the first quarter. Vanguard Group Inc. now owns 15,031,207 shares of the semiconductor company’s stock worth $1,084,201,000 after buying an additional 2,672,954 shares in the last quarter. State Street Corp increased its position in Synopsys by 19.9% in the first quarter. State Street Corp now owns 7,240,263 shares of the semiconductor company’s stock worth $522,251,000 after buying an additional 1,201,269 shares in the last quarter. AJO LP increased its position in Synopsys by 132.1% in the second quarter. AJO LP now owns 1,449,128 shares of the semiconductor company’s stock worth $105,685,000 after buying an additional 824,879 shares in the last quarter. Finally, Morgan Stanley increased its position in Synopsys by 155.6% in the first quarter. Morgan Stanley now owns 1,081,104 shares of the semiconductor company’s stock worth $77,979,000 after buying an additional 658,199 shares in the last quarter. Institutional investors own 88.94% of the company’s stock.

In related news, EVP Joseph W. Logan sold 5,000 shares of Synopsys stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $76.99, for a total value of $384,950.00. Following the completion of the transaction, the executive vice president now owns 63,793 shares in the company, valued at approximately $4,911,423.07. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Chi-Foon Chan sold 3,750 shares of Synopsys stock in a transaction dated Friday, August 18th. The shares were 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 of the company’s stock, 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.

Several research firms have recently commented on SNPS. Credit Suisse Group reaffirmed an “outperform” rating on shares of Synopsys in a research note on Thursday, August 31st. HSBC Holdings plc reiterated an “average” rating on shares of Synopsys in a research note on Thursday, September 14th. Zacks Investment Research downgraded Synopsys from a “buy” rating to a “hold” rating in a research note on Thursday, September 21st. Royal Bank Of Canada increased their target price on shares of Synopsys from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, August 17th. Finally, BidaskClub raised shares of Synopsys from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 17th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $83.88.

Synopsys, Inc. (NASDAQ:SNPS) traded up 0.1585% during trading on Tuesday, hitting $81.3087. The stock had a trading volume of 107,373 shares. The company has a market cap of $12.22 billion, a price-to-earnings ratio of 38.1731 and a beta of 1.00. Synopsys, Inc. has a 52-week low of $56.03 and a 52-week high of $81.57. The firm’s 50-day moving average price is $79.41 and its 200-day moving average price is $75.29.

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

Synopsys announced that its Board of Directors 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 management believes its shares are undervalued.

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Synopsys 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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