Czech National Bank increased its stake in Synopsys, Inc. (NASDAQ:SNPS – Free Report) by 0.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,029 shares of the semiconductor company’s stock after acquiring an additional 74 shares during the quarter. Czech National Bank’s holdings in Synopsys were worth $7,850,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the stock. HighTower Advisors LLC raised its position in shares of Synopsys by 19.5% in the 1st quarter. HighTower Advisors LLC now owns 35,050 shares of the semiconductor company’s stock worth $13,494,000 after acquiring an additional 5,718 shares in the last quarter. Norinchukin Bank The increased its holdings in Synopsys by 10.2% in the first quarter. Norinchukin Bank The now owns 15,165 shares of the semiconductor company’s stock worth $5,857,000 after purchasing an additional 1,401 shares in the last quarter. Triasima Portfolio Management inc. lifted its stake in Synopsys by 355.4% in the first quarter. Triasima Portfolio Management inc. now owns 4,326 shares of the semiconductor company’s stock valued at $1,671,000 after buying an additional 3,376 shares during the period. Great Valley Advisor Group Inc. bought a new position in shares of Synopsys during the 1st quarter worth approximately $227,000. Finally, Sand Hill Global Advisors LLC acquired a new stake in shares of Synopsys during the 1st quarter worth approximately $203,000. 84.12% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms have commented on SNPS. Stifel Nicolaus raised their price target on shares of Synopsys from $445.00 to $470.00 and gave the stock a “buy” rating in a report on Thursday, August 17th. KeyCorp upped their price target on Synopsys from $500.00 to $515.00 and gave the stock an “overweight” rating in a research note on Thursday, August 17th. JPMorgan Chase & Co. boosted their price objective on Synopsys from $470.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday, August 17th. Needham & Company LLC reiterated a “buy” rating and issued a $500.00 target price on shares of Synopsys in a report on Tuesday, August 15th. Finally, Robert W. Baird upped their price objective on shares of Synopsys from $491.00 to $505.00 and gave the stock an “outperform” rating in a report on Thursday, August 17th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $462.50.
Synopsys Price Performance
Shares of NASDAQ:SNPS opened at $451.93 on Friday. Synopsys, Inc. has a 1 year low of $267.00 and a 1 year high of $471.15. The stock’s 50-day moving average is $448.02 and its 200 day moving average is $414.73. The company has a market cap of $68.74 billion, a PE ratio of 67.76, a P/E/G ratio of 3.61 and a beta of 1.11.
Synopsys (NASDAQ:SNPS – Get Free Report) last issued its earnings results on Wednesday, August 16th. The semiconductor company reported $2.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.74 by $0.14. The company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Synopsys had a net margin of 18.71% and a return on equity of 18.01%. The firm’s quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter last year, the company posted $1.43 earnings per share. Analysts expect that Synopsys, Inc. will post 7.87 EPS for the current fiscal year.
Insider Buying and Selling at Synopsys
In related news, CAO Sudhindra Kankanwadi sold 5,100 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $460.75, for a total value of $2,349,825.00. Following the completion of the sale, the chief accounting officer now directly owns 16,793 shares of the company’s stock, valued at approximately $7,737,374.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Synopsys news, CAO Sudhindra Kankanwadi sold 5,100 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $460.75, for a total value of $2,349,825.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,793 shares in the company, valued at approximately $7,737,374.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Geus Aart De sold 40,839 shares of the business’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $428.18, for a total transaction of $17,486,443.02. Following the completion of the transaction, the chief executive officer now directly owns 94,421 shares in the company, valued at approximately $40,429,183.78. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,953 shares of company stock valued at $22,116,008. Company insiders own 0.69% of the company’s stock.
Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers 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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