Teachers Retirement System of The State of Kentucky Sells 469 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Teachers Retirement System of The State of Kentucky lowered its position in Synopsys, Inc. (NASDAQ:SNPSGet Rating) by 4.2% in the 1st quarter, Holdings Channel reports. The institutional investor owned 10,779 shares of the semiconductor company’s stock after selling 469 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Synopsys were worth $3,592,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SNPS. Norges Bank purchased a new stake in Synopsys in the fourth quarter worth approximately $515,268,000. Nuveen Asset Management LLC boosted its stake in Synopsys by 22.0% in the fourth quarter. Nuveen Asset Management LLC now owns 2,475,107 shares of the semiconductor company’s stock worth $912,077,000 after buying an additional 447,018 shares in the last quarter. BlackRock Inc. boosted its stake in Synopsys by 3.2% in the first quarter. BlackRock Inc. now owns 13,533,731 shares of the semiconductor company’s stock worth $4,510,386,000 after buying an additional 417,496 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Synopsys by 90.2% in the first quarter. Goldman Sachs Group Inc. now owns 733,196 shares of the semiconductor company’s stock worth $244,353,000 after buying an additional 347,807 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in Synopsys by 123.5% in the fourth quarter. Millennium Management LLC now owns 552,400 shares of the semiconductor company’s stock worth $203,559,000 after buying an additional 305,194 shares in the last quarter. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Insiders Place Their Bets

In other Synopsys news, insider John F. Runkel, Jr. sold 3,464 shares of the stock in a transaction on Friday, August 19th. The stock was sold at an average price of $365.49, for a total value of $1,266,057.36. Following the completion of the transaction, the insider now owns 22,623 shares in the company, valued at $8,268,480.27. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider John F. Runkel, Jr. sold 3,464 shares of the firm’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $365.49, for a total transaction of $1,266,057.36. Following the completion of the transaction, the insider now directly owns 22,623 shares in the company, valued at $8,268,480.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mercedes Johnson sold 2,000 shares of the firm’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $360.00, for a total value of $720,000.00. Following the transaction, the director now owns 5,346 shares of the company’s stock, valued at $1,924,560. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,182 shares of company stock worth $22,033,688. 1.20% of the stock is owned by corporate insiders.

Synopsys Stock Down 0.5 %

Shares of SNPS stock opened at $314.21 on Monday. The stock has a fifty day moving average of $347.10 and a 200 day moving average of $319.44. The firm has a market capitalization of $48.05 billion, a price-to-earnings ratio of 47.68, a PEG 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.

Synopsys (NASDAQ:SNPSGet Rating) last posted its quarterly earnings data on Wednesday, August 17th. The semiconductor company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.11. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.21 billion. Synopsys had a return on equity of 18.29% and a net margin of 20.86%. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.27 earnings per share. Equities research 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 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 typically a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have issued reports on SNPS. KeyCorp upped their target price on Synopsys from $445.00 to $455.00 and gave the stock an “overweight” rating in a research note on Thursday, August 18th. Wells Fargo & Company increased their price objective on Synopsys from $375.00 to $425.00 and gave the company an “overweight” rating in a research note on Thursday, August 11th. Robert W. Baird increased their price objective on Synopsys from $409.00 to $444.00 and gave the company an “outperform” rating in a research note on Thursday, August 18th. Wolfe Research started coverage on Synopsys in a research note on Tuesday, August 16th. They set an “outperform” rating and a $440.00 price objective for the company. Finally, Stifel Nicolaus started coverage on Synopsys in a research note on Wednesday, September 7th. They set a “buy” rating and a $445.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $405.33.

Synopsys Company 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.

See Also

Want to see what other hedge funds are holding SNPS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synopsys, Inc. (NASDAQ:SNPSGet Rating).

Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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