Synopsys, Inc. (SNPS) Short Interest Up 40.2% in December
Synopsys, Inc. (NASDAQ:SNPS) was the recipient of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 3,261,171 shares, a growth of 40.2% from the November 30th total of 2,325,766 shares. Based on an average trading volume of 1,818,822 shares, the short-interest ratio is currently 1.8 days. Approximately 2.2% of the shares of the company are short sold.
In related news, Director Chrysostomos L. Nikias sold 21,073 shares of Synopsys stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $85.88, for a total transaction of $1,809,749.24. Following the completion of the sale, the director now owns 32,466 shares of the company’s stock, valued at $2,788,180.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel John F. Runkel, Jr. sold 10,000 shares of Synopsys stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $88.00, for a total value of $880,000.00. Following the sale, the general counsel now directly owns 18,742 shares of the company’s stock, valued at approximately $1,649,296. The disclosure for this sale can be found here. Insiders sold 60,897 shares of company stock valued at $5,370,098 over the last ninety days. Corporate insiders own 1.82% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AXA increased its holdings in shares of Synopsys by 22.8% in the second quarter. AXA now owns 704,528 shares of the semiconductor company’s stock worth $51,382,000 after buying an additional 130,700 shares during the period. Bridgewater Associates LP purchased a new position in shares of Synopsys in the second quarter worth about $448,000. Swiss National Bank increased its holdings in shares of Synopsys by 0.9% in the third quarter. Swiss National Bank now owns 778,236 shares of the semiconductor company’s stock worth $62,671,000 after buying an additional 7,200 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Synopsys by 3.0% in the second quarter. Ameriprise Financial Inc. now owns 4,277,670 shares of the semiconductor company’s stock worth $311,973,000 after buying an additional 125,190 shares during the period. Finally, AJO LP increased its holdings in shares of 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 during the period. Institutional investors and hedge funds own 90.75% of the company’s stock.
Shares of Synopsys (SNPS) opened at $87.89 on Friday. Synopsys has a 12-month low of $59.41 and a 12-month high of $94.80. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market capitalization of $13,180.00, a PE ratio of 102.20, a price-to-earnings-growth ratio of 3.83 and a beta of 1.01.
Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, November 29th. The semiconductor company reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.12. Synopsys had a return on equity of 5.78% and a net margin of 5.01%. The business had revenue of $696.60 million for the quarter, compared to the consensus estimate of $650.72 million. During the same quarter last year, the business posted $0.77 earnings per share. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. equities research analysts forecast that Synopsys will post 2.24 EPS for the current fiscal year.
SNPS has been the subject of several research analyst reports. TheStreet lowered Synopsys from an “a” rating to a “c+” rating in a research note on Wednesday, November 29th. Zacks Investment Research raised Synopsys from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research note on Tuesday, October 3rd. Needham & Company LLC lifted their price objective on Synopsys from $83.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, December 1st. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Synopsys in a research note on Thursday, December 7th. Finally, KeyCorp reissued an “overweight” rating and set a $106.00 price objective (up previously from $86.00) on shares of Synopsys in a research note on Thursday, November 30th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $96.89.
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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.
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