California Public Employees Retirement System grew its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 404,818 shares of the semiconductor company’s stock after buying an additional 3,831 shares during the quarter. California Public Employees Retirement System owned approximately 0.27% of Synopsys worth $34,507,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. Advisor Group Inc. lifted its position in Synopsys by 14.3% during the 2nd quarter. Advisor Group Inc. now owns 2,617 shares of the semiconductor company’s stock worth $190,000 after buying an additional 327 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Synopsys by 8.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 9,298 shares of the semiconductor company’s stock worth $749,000 after buying an additional 690 shares in the last quarter. National Pension Service lifted its position in Synopsys by 0.4% during the 4th quarter. National Pension Service now owns 176,640 shares of the semiconductor company’s stock worth $15,057,000 after buying an additional 692 shares in the last quarter. GHP Investment Advisors Inc. lifted its position in Synopsys by 2.2% during the 3rd quarter. GHP Investment Advisors Inc. now owns 32,385 shares of the semiconductor company’s stock worth $2,608,000 after buying an additional 695 shares in the last quarter. Finally, Strs Ohio lifted its position in Synopsys by 3.8% during the 3rd quarter. Strs Ohio now owns 20,004 shares of the semiconductor company’s stock worth $1,610,000 after buying an additional 729 shares in the last quarter. 89.77% of the stock is currently owned by hedge funds and other institutional investors.
SNPS has been the topic of several analyst reports. Royal Bank of Canada raised shares of Synopsys from an “outperform” rating to a “top pick” rating and boosted their price target for the stock from $90.00 to $100.00 in a research report on Wednesday, October 25th. DA Davidson reissued a “buy” rating and set a $105.00 price target (up from $91.00) on shares of Synopsys in a research report on Tuesday, November 28th. BidaskClub cut shares of Synopsys from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Zacks Investment Research cut shares of Synopsys from a “hold” rating to a “strong sell” rating in a research report on Monday, December 4th. Finally, Needham & Company LLC upped their target price on shares of Synopsys from $83.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, November 30th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $96.89.
Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, November 29th. The semiconductor company reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.12. The company had revenue of $696.60 million for the quarter, compared to analysts’ expectations of $650.72 million. Synopsys had a net margin of 5.01% and a return on equity of 5.78%. Synopsys’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.77 EPS. analysts predict that Synopsys, Inc. will post 2.24 earnings per share for the current year.
In other news, CEO Chi-Foon Chan sold 3,750 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $89.78, for a total value of $336,675.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven Walske sold 4,545 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $90.12, for a total transaction of $409,595.40. Following the completion of the sale, the director now directly owns 14,988 shares in the company, valued at $1,350,718.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,442 shares of company stock worth $5,779,693. 1.82% of the stock is owned by insiders.
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Synopsys, Inc provides software, intellectual property (IP) and services. The Company supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits, also known as chips. It also offers IP products, which are pre-designed circuits that engineers use as components of larger chip designs rather than designing those circuits themselves.
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