AXA boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 319.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,417 shares of the semiconductor company’s stock after purchasing an additional 27,739 shares during the period. AXA’s holdings in Synopsys were worth $4,687,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in SNPS. Egerton Capital UK LLP increased its holdings in Synopsys by 142.3% during the 1st quarter. Egerton Capital UK LLP now owns 2,199,485 shares of the semiconductor company’s stock valued at $253,271,000 after purchasing an additional 1,291,643 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Synopsys by 18.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,228,559 shares of the semiconductor company’s stock valued at $782,432,000 after purchasing an additional 955,527 shares in the last quarter. Marshall Wace North America L.P. increased its holdings in Synopsys by 2,163.3% during the 1st quarter. Marshall Wace North America L.P. now owns 546,217 shares of the semiconductor company’s stock valued at $62,897,000 after purchasing an additional 522,083 shares in the last quarter. MARSHALL WACE ASIA Ltd acquired a new stake in Synopsys during the 1st quarter valued at $40,967,000. Finally, WINTON GROUP Ltd increased its holdings in Synopsys by 3,944.7% during the 2nd quarter. WINTON GROUP Ltd now owns 249,035 shares of the semiconductor company’s stock valued at $32,048,000 after purchasing an additional 242,878 shares in the last quarter. 89.28% of the stock is owned by hedge funds and other institutional investors.
In other Synopsys news, General Counsel John F. Runkel, Jr. sold 10,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $137.47, for a total transaction of $1,374,700.00. Following the completion of the sale, the general counsel now directly owns 16,848 shares in the company, valued at approximately $2,316,094.56. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Sudhindra Kankanwadi sold 8,011 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $144.30, for a total value of $1,155,987.30. Following the sale, the vice president now owns 8,663 shares of the company’s stock, valued at $1,250,070.90. The disclosure for this sale can be found here. Insiders sold 22,589 shares of company stock valued at $3,158,514 over the last 90 days. 1.84% of the stock is currently owned by company insiders.
NASDAQ SNPS traded up $0.39 on Friday, hitting $138.61. 616,742 shares of the company’s stock were exchanged, compared to its average volume of 976,916. The stock has a 50-day moving average of $137.92 and a 200-day moving average of $127.84. The company has a current ratio of 0.99, a quick ratio of 0.90 and a debt-to-equity ratio of 0.03. Synopsys, Inc. has a 52 week low of $79.14 and a 52 week high of $146.66. The stock has a market cap of $20.41 billion, a price-to-earnings ratio of 49.15, a P/E/G ratio of 3.59 and a beta of 1.21.
Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.03. Synopsys had a return on equity of 16.56% and a net margin of 18.94%. The company had revenue of $853.00 million during the quarter, compared to analysts’ expectations of $831.03 million. During the same period in the prior year, the company earned $0.95 EPS. Synopsys’s revenue was up 9.5% compared to the same quarter last year. As a group, analysts predict that Synopsys, Inc. will post 3.15 earnings per share for the current year.
SNPS has been the subject of several research reports. Needham & Company LLC set a $145.00 target price on Synopsys and gave the company a “buy” rating in a research note on Monday, September 30th. BidaskClub raised Synopsys from a “hold” rating to a “buy” rating in a research note on Thursday, October 3rd. Zacks Investment Research upgraded Synopsys from a “sell” rating to a “hold” rating and set a $142.00 target price on the stock in a report on Monday, August 26th. JPMorgan Chase & Co. lifted their target price on Synopsys from $138.00 to $157.00 and gave the stock a “neutral” rating in a report on Wednesday, September 11th. Finally, Credit Suisse Group reiterated a “positive” rating and set a $150.00 target price (up from $125.00) on shares of Synopsys in a report on Thursday, August 22nd. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $145.64.
Synopsys Company Profile
Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits (ICs). It offers Fusion Design Platform, a digital design implementation solution; Verification Continuum Platform, which 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.
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