Westpac Banking Corp lessened its position in Synopsys, Inc. (NASDAQ:SNPS) by 1.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,136 shares of the semiconductor company’s stock after selling 1,598 shares during the quarter. Westpac Banking Corp owned 0.06% of Synopsys worth $6,775,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. Lakeview Capital Partners LLC bought a new stake in shares of Synopsys in the 3rd quarter worth about $215,000. Crossmark Global Holdings Inc. purchased a new position in Synopsys in the 3rd quarter worth about $783,000. Sumitomo Mitsui Asset Management Company LTD increased its stake in Synopsys by 119.8% in the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 26,067 shares of the semiconductor company’s stock worth $2,099,000 after buying an additional 14,210 shares during the period. Pictet Asset Management Ltd. increased its stake in Synopsys by 79.9% in the 3rd quarter. Pictet Asset Management Ltd. now owns 2,117,337 shares of the semiconductor company’s stock worth $170,509,000 after buying an additional 940,616 shares during the period. Finally, Highstreet Asset Management Inc. increased its stake in Synopsys by 26.0% in the 3rd quarter. Highstreet Asset Management Inc. now owns 31,501 shares of the semiconductor company’s stock worth $2,537,000 after buying an additional 6,510 shares during the period. Hedge funds and other institutional investors own 89.78% of the company’s stock.
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Shares of Synopsys, Inc. (NASDAQ SNPS) opened at $87.28 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.07 and a current ratio of 1.07. Synopsys, Inc. has a 12 month low of $56.03 and a 12 month high of $87.91. The company has a market cap of $13,113.62, a P/E ratio of 35.05, a price-to-earnings-growth ratio of 3.97 and a beta of 1.00.
Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data 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 business had revenue of $695.40 million during the quarter, compared to analysts’ expectations of $691.22 million. During the same period in the previous year, the business posted $0.76 EPS. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. equities research analysts predict that Synopsys, Inc. will post 1.93 earnings per share for the current year.
In other news, CEO Chi-Foon Chan sold 3,750 shares of Synopsys stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $77.50, for a total transaction of $290,625.00. Following the completion of the transaction, the chief executive officer now directly owns 200,429 shares of the company’s stock, valued at approximately $15,533,247.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Joseph W. Logan sold 5,000 shares of Synopsys stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 63,793 shares of the company’s stock, valued at $4,911,423.07. The disclosure for this sale can be found here. 1.82% of the stock is owned by insiders.
A number of research firms have commented on SNPS. Royal Bank Of Canada raised their target price on shares of Synopsys from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, August 17th. Zacks Investment Research raised shares of Synopsys from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research report on Monday, August 21st. BidaskClub raised shares of Synopsys from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $83.00 price objective (up previously from $77.00) on shares of Synopsys in a research report on Thursday, August 17th. Finally, Credit Suisse Group reaffirmed a “positive” rating and issued a $90.00 price objective (up previously from $82.00) on shares of Synopsys in a research report on Tuesday, August 15th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $85.25.
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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