Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Strs Ohio
Strs Ohio boosted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 24.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,275 shares of the semiconductor company’s stock after buying an additional 3,768 shares during the period. Strs Ohio’s holdings in Synopsys were worth $1,405,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in SNPS. BlackRock Inc. raised its stake in shares of Synopsys by 3,273.6% in the first quarter. BlackRock Inc. now owns 12,796,224 shares of the semiconductor company’s stock valued at $922,991,000 after buying an additional 12,416,921 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Synopsys by 21.6% in the first quarter. Vanguard Group Inc. now owns 15,031,207 shares of the semiconductor company’s stock valued at $1,084,201,000 after buying an additional 2,672,954 shares in the last quarter. Swedbank purchased a new stake in shares of Synopsys during the first quarter valued at approximately $136,109,000. State Street Corp raised its stake in shares of Synopsys by 19.9% in the first quarter. State Street Corp now owns 7,240,263 shares of the semiconductor company’s stock valued at $522,251,000 after buying an additional 1,201,269 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of Synopsys by 155.6% in the first quarter. Morgan Stanley now owns 1,081,104 shares of the semiconductor company’s stock valued at $77,979,000 after buying an additional 658,199 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.
Shares of Synopsys, Inc. (NASDAQ SNPS) opened at 76.27 on Friday. The stock has a 50 day moving average price of $75.20 and a 200 day moving average price of $72.33. The stock has a market cap of $11.46 billion, a P/E ratio of 42.61 and a beta of 1.02. Synopsys, Inc. has a 12 month low of $55.44 and a 12 month high of $77.55.
Synopsys (NASDAQ:SNPS) last posted 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. Synopsys had a net margin of 10.74% and a return on equity of 11.16%. The company had revenue of $680.07 million during the quarter, compared to analysts’ expectations of $672.40 million. During the same quarter in the previous year, the company posted $0.81 earnings per share. Synopsys’s quarterly revenue was up 12.4% compared to the same quarter last year. Equities analysts anticipate that Synopsys, Inc. will post $3.28 EPS for the current fiscal year.
Synopsys declared that its Board of Directors has authorized a share buyback program on Friday, June 16th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the semiconductor company to purchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
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Several equities research analysts have commented on SNPS shares. Zacks Investment Research lowered Synopsys from a “buy” rating to a “hold” rating in a research note on Tuesday, May 16th. Needham & Company LLC restated a “buy” rating and set a $76.00 price target on shares of Synopsys in a research note on Monday, April 17th. BidaskClub lowered Synopsys from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Pacific Crest restated an “overweight” rating and set a $86.00 price target (up from $78.00) on shares of Synopsys in a research note on Friday, May 19th. Finally, DA Davidson restated a “buy” rating and set a $85.00 price target (up from $77.00) on shares of Synopsys in a research note on Friday, May 19th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $75.78.
In other Synopsys news, CEO Chi-Foon Chan sold 3,750 shares of the company’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $70.96, for a total transaction of $266,100.00. Following the completion of the sale, the chief executive officer now owns 204,179 shares in the company, valued at approximately $14,488,541.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel John F. Runkel, Jr. sold 10,000 shares of the company’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 sale, the general counsel now owns 18,239 shares of the company’s stock, valued at approximately $1,294,969. The disclosure for this sale can be found here. Insiders sold a total of 304,246 shares of company stock valued at $21,608,505 in the last 90 days. 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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