Premier Fund Managers Ltd Sells 17,585 Shares of Synopsys, Inc. (NASDAQ:SNPS)


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Premier Fund Managers Ltd lowered its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 41.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 24,870 shares of the semiconductor company’s stock after selling 17,585 shares during the quarter. Premier Fund Managers Ltd’s holdings in Synopsys were worth $6,391,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. WESPAC Advisors LLC bought a new position in shares of Synopsys during the 4th quarter worth approximately $352,000. Ninety One North America Inc. lifted its position in shares of Synopsys by 127.9% during the 4th quarter. Ninety One North America Inc. now owns 38,099 shares of the semiconductor company’s stock worth $9,877,000 after buying an additional 21,381 shares in the last quarter. LPL Financial LLC lifted its position in shares of Synopsys by 3.4% during the 3rd quarter. LPL Financial LLC now owns 21,005 shares of the semiconductor company’s stock worth $4,495,000 after buying an additional 698 shares in the last quarter. Aperio Group LLC lifted its position in shares of Synopsys by 0.5% during the 4th quarter. Aperio Group LLC now owns 172,961 shares of the semiconductor company’s stock worth $44,838,000 after buying an additional 882 shares in the last quarter. Finally, RBA Wealth Management LLC lifted its position in shares of Synopsys by 8.6% during the 4th quarter. RBA Wealth Management LLC now owns 9,410 shares of the semiconductor company’s stock worth $2,439,000 after buying an additional 748 shares in the last quarter. 86.11% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Janice Chaffin sold 7,111 shares of the business’s stock in a transaction on Friday, February 19th. The shares were sold at an average price of $269.38, for a total transaction of $1,915,561.18. Also, CEO Chi-Foon Chan sold 6,372 shares of the business’s stock in a transaction on Friday, February 19th. The shares were sold at an average price of $269.37, for a total transaction of $1,716,425.64. Insiders have sold a total of 38,946 shares of company stock valued at $10,045,490 over the last 90 days. Company insiders own 1.84% of the company’s stock.

Synopsys stock traded down $7.15 during mid-day trading on Tuesday, reaching $247.54. The company’s stock had a trading volume of 20,618 shares, compared to its average volume of 737,047. The firm’s fifty day moving average price is $268.10 and its two-hundred day moving average price is $233.88. The company has a market capitalization of $37.88 billion, a P/E ratio of 59.79, a PEG ratio of 5.07 and a beta of 1.10. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.10 and a current ratio of 1.19. Synopsys, Inc. has a 12-month low of $104.90 and a 12-month high of $300.91.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, February 17th. The semiconductor company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.45. Synopsys had a net margin of 18.03% and a return on equity of 14.81%. During the same quarter last year, the company posted $1.01 earnings per share. On average, research analysts predict that Synopsys, Inc. will post 4.41 EPS for the current fiscal year.

SNPS has been the subject of several research analyst reports. KeyCorp raised their price target on shares of Synopsys from $290.00 to $315.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 16th. Wells Fargo & Company raised their price target on shares of Synopsys from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 10th. Needham & Company LLC raised their price target on shares of Synopsys from $275.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, February 18th. Credit Suisse Group raised their price target on shares of Synopsys from $265.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, February 18th. Finally, DA Davidson raised their price target on shares of Synopsys from $285.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, February 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $279.33.

Synopsys Profile

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It offers Fusion Design Platform, a digital design implementation solution; Verification Continuum Platform that provides virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.

Further Reading: Outstanding Shares

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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