Power Corp of Canada Buys Shares of 1,419 Synopsys, Inc. (NASDAQ:SNPS)

Power Corp of Canada bought a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS – Get Rating) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 1,419 shares of the semiconductor company’s stock, valued at approximately $434,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new position in shares of Synopsys during the third quarter worth about $35,000. MV Capital Management Inc. grew its position in shares of Synopsys by 47.2% during the third quarter. MV Capital Management Inc. now owns 131 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 42 shares during the last quarter. Clearstead Advisors LLC bought a new position in shares of Synopsys during the second quarter worth about $42,000. Ronald Blue Trust Inc. bought a new position in shares of Synopsys during the second quarter worth about $59,000. Finally, CI Investments Inc. grew its position in shares of Synopsys by 957.9% during the third quarter. CI Investments Inc. now owns 201 shares of the semiconductor company’s stock worth $61,000 after acquiring an additional 182 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

Insiders Place Their Bets

In other Synopsys news, COO Sassine Ghazi sold 29,136 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $319.46, for a total transaction of $9,307,786.56. Following the completion of the sale, the chief operating officer now owns 52,609 shares of the company’s stock, valued at $16,806,471.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Sassine Ghazi sold 29,136 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $319.46, for a total value of $9,307,786.56. Following the completion of the sale, the chief operating officer now directly owns 52,609 shares of the company’s stock, valued at $16,806,471.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sudhindra Kankanwadi sold 4,000 shares of the stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $361.08, for a total value of $1,444,320.00. Following the completion of the sale, the chief accounting officer now directly owns 16,723 shares of the company’s stock, valued at $6,038,340.84. The disclosure for this sale can be found here. Insiders sold 65,736 shares of company stock valued at $21,590,891 over the last 90 days. 0.69% of the stock is currently owned by company insiders.

Synopsys Stock Down 0.8 %

Shares of Synopsys stock opened at $366.82 on Thursday. The stock has a market capitalization of $55.87 billion, a P/E ratio of 60.53, a PEG ratio of 3.15 and a beta of 1.18. The stock has a 50 day moving average price of $353.86 and a two-hundred day moving average price of $329.40. Synopsys, Inc. has a 12-month low of $255.02 and a 12-month high of $391.17.

Synopsys (NASDAQ:SNPS – Get Rating) last announced its earnings results on Wednesday, February 15th. The semiconductor company reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.12. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Synopsys had a return on equity of 16.88% and a net margin of 18.22%. The company’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.78 earnings per share. Sell-side analysts anticipate that Synopsys, Inc. will post 7.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SNPS. Wells Fargo & Company upped their price objective on shares of Synopsys from $400.00 to $410.00 and gave the stock an “overweight” rating in a report on Thursday, February 16th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $420.00 price objective on shares of Synopsys in a report on Tuesday, February 14th. Atlantic Securities began coverage on shares of Synopsys in a report on Tuesday, January 17th. They issued an “overweight” rating for the company. Needham & Company LLC upped their price objective on shares of Synopsys from $420.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, February 16th. Finally, Edward Jones began coverage on shares of Synopsys in a report on Wednesday, November 16th. They issued a “hold” rating for the company. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $424.18.

Synopsys Profile

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Synopsys, Inc engages in the provision of software products and consulting services in the electronic design automation industry. It operates through the following segments: Semiconductor and System Design, and Software Integrity. The Semiconductor and System Design segment includes the EDA, IP and System Integration.