Synopsys, Inc. (SNPS) Shares Bought by Virginia Retirement Systems ET AL

Share on StockTwits

Virginia Retirement Systems ET AL increased its position in Synopsys, Inc. (NASDAQ:SNPS) by 56.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 185,000 shares of the semiconductor company’s stock after purchasing an additional 67,100 shares during the quarter. Virginia Retirement Systems ET AL owned approximately 0.12% of Synopsys worth $18,243,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Synopsys by 5.2% during the second quarter. BlackRock Inc. now owns 14,683,291 shares of the semiconductor company’s stock valued at $1,256,450,000 after buying an additional 731,655 shares during the last quarter. Voya Investment Management LLC raised its stake in Synopsys by 142.8% during the second quarter. Voya Investment Management LLC now owns 936,019 shares of the semiconductor company’s stock valued at $80,095,000 after buying an additional 550,522 shares during the last quarter. PointState Capital LP purchased a new position in Synopsys during the second quarter valued at $35,129,000. Assenagon Asset Management S.A. purchased a new position in Synopsys during the second quarter valued at $32,966,000. Finally, State of New Jersey Common Pension Fund D raised its stake in Synopsys by 318.4% during the second quarter. State of New Jersey Common Pension Fund D now owns 446,800 shares of the semiconductor company’s stock valued at $38,233,000 after buying an additional 340,000 shares during the last quarter. Institutional investors own 87.32% of the company’s stock.

Shares of Synopsys stock traded up $1.31 on Wednesday, reaching $91.58. The company’s stock had a trading volume of 4,685 shares, compared to its average volume of 1,386,416. The firm has a market cap of $13.31 billion, a price-to-earnings ratio of 104.09, a PEG ratio of 3.52 and a beta of 1.27. Synopsys, Inc. has a 52 week low of $80.13 and a 52 week high of $103.40. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.04.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, August 22nd. The semiconductor company reported $0.95 EPS for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.03. The business had revenue of $779.70 million during the quarter, compared to analyst estimates of $773.61 million. Synopsys had a return on equity of 5.52% and a net margin of 1.92%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.92 EPS. On average, equities research analysts forecast that Synopsys, Inc. will post 1.57 EPS for the current fiscal year.

In other Synopsys news, EVP Joseph W. Logan sold 20,000 shares of Synopsys stock in a transaction on Friday, August 24th. The stock was sold at an average price of $101.43, for a total value of $2,028,600.00. Following the completion of the sale, the executive vice president now owns 88,271 shares of the company’s stock, valued at approximately $8,953,327.53. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel John F. Runkel, Jr. sold 10,000 shares of Synopsys stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $102.00, for a total value of $1,020,000.00. Following the completion of the sale, the general counsel now directly owns 22,322 shares of the company’s stock, valued at approximately $2,276,844. The disclosure for this sale can be found here. In the last three months, insiders sold 33,609 shares of company stock valued at $3,416,177. Corporate insiders own 1.84% of the company’s stock.

A number of research analysts have issued reports on SNPS shares. BidaskClub upgraded Synopsys from a “hold” rating to a “buy” rating in a research note on Tuesday, July 24th. JPMorgan Chase & Co. lifted their price objective on Synopsys to $98.00 and gave the company an “underweight” rating in a research note on Thursday, August 23rd. KeyCorp lifted their price objective on Synopsys from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, August 23rd. Needham & Company LLC reiterated a “buy” rating and set a $105.00 price objective (up previously from $100.00) on shares of Synopsys in a research note on Thursday, August 23rd. Finally, DA Davidson lifted their price objective on Synopsys to $110.00 and gave the company a “buy” rating in a research note on Thursday, August 23rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $107.00.

ILLEGAL ACTIVITY NOTICE: “Synopsys, Inc. (SNPS) Shares Bought by Virginia Retirement Systems ET AL” was first posted by Week Herald and is the sole property of of Week Herald. If you are reading this story on another site, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this story can be read at https://weekherald.com/2018/11/07/synopsys-inc-snps-shares-bought-by-virginia-retirement-systems-et-al.html.

Synopsys Profile

Synopsys, Inc provides electronic design automation (EDA) software products used to design and test integrated circuits (ICs). It offers Galaxy Design platform that offers IC design solutions; Verification Continuum Platform, which 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.

Featured Article: Investing in Growth Stocks

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:SNPS).

Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

Receive News & Ratings for Synopsys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synopsys and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply