DnB Asset Management AS Has $8.11 Million Stake in Synopsys, Inc. (NASDAQ:SNPS)

DnB Asset Management AS boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPSGet Rating) by 0.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 26,695 shares of the semiconductor company’s stock after purchasing an additional 164 shares during the period. DnB Asset Management AS’s holdings in Synopsys were worth $8,107,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. HighTower Advisors LLC lifted its holdings in shares of Synopsys by 5.0% in the fourth quarter. HighTower Advisors LLC now owns 5,891 shares of the semiconductor company’s stock worth $2,172,000 after acquiring an additional 282 shares during the last quarter. Ensign Peak Advisors Inc lifted its holdings in shares of Synopsys by 16.0% in the fourth quarter. Ensign Peak Advisors Inc now owns 29,662 shares of the semiconductor company’s stock worth $10,930,000 after acquiring an additional 4,099 shares during the last quarter. True North Advisors LLC bought a new position in shares of Synopsys in the fourth quarter worth about $582,000. Clark Capital Management Group Inc. bought a new position in shares of Synopsys in the fourth quarter worth about $266,000. Finally, Gotham Asset Management LLC lifted its holdings in shares of Synopsys by 1.9% in the fourth quarter. Gotham Asset Management LLC now owns 14,232 shares of the semiconductor company’s stock worth $5,244,000 after acquiring an additional 271 shares during the last quarter. 84.99% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Down 0.5 %

Shares of SNPS stock opened at $314.21 on Monday. The company has a market cap of $48.05 billion, a price-to-earnings ratio of 47.68, a price-to-earnings-growth ratio of 3.03 and a beta of 1.23. Synopsys, Inc. has a 52 week low of $255.02 and a 52 week high of $391.17. The firm has a 50 day moving average of $347.10 and a 200-day moving average of $319.44.

Synopsys (NASDAQ:SNPSGet Rating) last announced its quarterly earnings data on Wednesday, August 17th. The semiconductor company reported $2.10 EPS for the quarter, topping the consensus estimate of $1.99 by $0.11. Synopsys had a net margin of 20.86% and a return on equity of 18.29%. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the firm posted $1.27 EPS. The company’s quarterly revenue was up 18.0% on a year-over-year basis. Analysts anticipate that Synopsys, Inc. will post 6.41 earnings per share for the current year.

Synopsys declared that its Board of Directors has authorized a stock repurchase plan on Thursday, September 1st that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity at Synopsys

In related news, CFO Trac Pham sold 18,393 shares of Synopsys stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $307.03, for a total value of $5,647,202.79. Following the completion of the sale, the chief financial officer now owns 39,811 shares of the company’s stock, valued at approximately $12,223,171.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Synopsys news, COO Sassine Ghazi sold 4,651 shares of the firm’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $300.67, for a total transaction of $1,398,416.17. Following the transaction, the chief operating officer now directly owns 45,173 shares in the company, valued at approximately $13,582,165.91. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Trac Pham sold 18,393 shares of the firm’s stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $307.03, for a total value of $5,647,202.79. Following the transaction, the chief financial officer now owns 39,811 shares in the company, valued at $12,223,171.33. The disclosure for this sale can be found here. In the last 90 days, insiders sold 64,182 shares of company stock valued at $22,033,688. 1.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SNPS. Robert W. Baird increased their target price on shares of Synopsys from $409.00 to $444.00 and gave the stock an “outperform” rating in a report on Thursday, August 18th. KeyCorp raised their price objective on shares of Synopsys from $445.00 to $455.00 and gave the company an “overweight” rating in a report on Thursday, August 18th. Stifel Nicolaus assumed coverage on shares of Synopsys in a report on Wednesday, September 7th. They issued a “buy” rating and a $445.00 price objective for the company. Rosenblatt Securities raised their price objective on shares of Synopsys from $390.00 to $405.00 and gave the company a “buy” rating in a report on Thursday, August 18th. Finally, Wells Fargo & Company raised their price objective on shares of Synopsys from $375.00 to $425.00 and gave the company an “overweight” rating in a report on Thursday, August 11th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $405.33.

Synopsys Profile

(Get Rating)

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. The company offers Fusion Design Platform that provides digital design implementation solutions; 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.

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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