TIAA CREF Investment Management LLC grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 46.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 937,917 shares of the semiconductor company’s stock after acquiring an additional 295,654 shares during the period. TIAA CREF Investment Management LLC owned about 0.63% of Synopsys worth $79,948,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. Cerebellum GP LLC bought a new position in Synopsys in the fourth quarter worth approximately $124,000. Robecosam AG raised its stake in Synopsys by 69.2% in the fourth quarter. Robecosam AG now owns 2,200 shares of the semiconductor company’s stock worth $188,000 after buying an additional 900 shares in the last quarter. Calton & Associates Inc. bought a new position in Synopsys in the fourth quarter worth approximately $217,000. IBM Retirement Fund bought a new position in Synopsys in the fourth quarter worth approximately $201,000. Finally, Conning Inc. bought a new position in Synopsys in the fourth quarter worth approximately $205,000. 90.52% of the stock is owned by hedge funds and other institutional investors.
Synopsys stock opened at $88.13 on Monday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.04. Synopsys, Inc. has a 1-year low of $70.37 and a 1-year high of $94.80. The stock has a market cap of $13,107.14, a price-to-earnings ratio of 326.41, a price-to-earnings-growth ratio of 5.71 and a beta of 1.09.
In other Synopsys news, CEO Chi-Foon Chan sold 778 shares of Synopsys stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $90.06, for a total value of $70,066.68. Following the transaction, the chief executive officer now directly owns 210,131 shares of the company’s stock, valued at $18,924,397.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel John F. Runkel, Jr. sold 10,000 shares of Synopsys stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $88.00, for a total transaction of $880,000.00. Following the completion of the transaction, the general counsel now directly owns 18,742 shares in the company, valued at $1,649,296. The disclosure for this sale can be found here. Insiders sold 60,318 shares of company stock worth $5,218,754 over the last ninety days. Corporate insiders own 1.84% of the company’s stock.
A number of brokerages recently commented on SNPS. BidaskClub raised shares of Synopsys from a “sell” rating to a “hold” rating in a research note on Tuesday, March 6th. Royal Bank of Canada reissued a “buy” rating on shares of Synopsys in a research note on Friday, February 23rd. Zacks Investment Research downgraded shares of Synopsys from a “hold” rating to a “strong sell” rating in a research note on Monday, February 26th. DA Davidson reissued a “buy” rating and issued a $105.00 price objective (up previously from $91.00) on shares of Synopsys in a research note on Tuesday, November 28th. Finally, Needham & Company LLC boosted their price objective on shares of Synopsys from $83.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, November 30th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. Synopsys presently has an average rating of “Hold” and an average target price of $97.33.
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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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