Los Angeles Capital Management & Equity Research Inc. Grows Stake in Synopsys, Inc. (NASDAQ:SNPS)

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Los Angeles Capital Management & Equity Research Inc. grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 12.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 61,967 shares of the semiconductor company’s stock after buying an additional 6,682 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Synopsys were worth $7,975,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. GYL Financial Synergies LLC purchased a new position in Synopsys during the first quarter worth $999,000. Bailard Inc. acquired a new stake in shares of Synopsys during the second quarter worth $219,000. Janney Montgomery Scott LLC boosted its holdings in shares of Synopsys by 6.7% during the first quarter. Janney Montgomery Scott LLC now owns 3,668 shares of the semiconductor company’s stock worth $422,000 after purchasing an additional 229 shares during the last quarter. TD Asset Management Inc. boosted its holdings in shares of Synopsys by 65.0% during the first quarter. TD Asset Management Inc. now owns 131,270 shares of the semiconductor company’s stock worth $15,116,000 after purchasing an additional 51,691 shares during the last quarter. Finally, Advisor Group Inc. boosted its holdings in shares of Synopsys by 16.3% during the first quarter. Advisor Group Inc. now owns 13,345 shares of the semiconductor company’s stock worth $1,537,000 after purchasing an additional 1,875 shares during the last quarter. 91.79% of the stock is owned by institutional investors.

Synopsys stock traded up $2.55 during midday trading on Tuesday, reaching $130.71. The stock had a trading volume of 5,667 shares, compared to its average volume of 792,895. Synopsys, Inc. has a twelve month low of $79.14 and a twelve month high of $138.72. The stock has a market capitalization of $19.64 billion, a PE ratio of 46.13, a PEG ratio of 3.93 and a beta of 1.27. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.95 and a quick ratio of 0.85. The firm has a 50-day moving average price of $133.06.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, May 22nd. The semiconductor company reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.04. Synopsys had a return on equity of 16.88% and a net margin of 18.74%. The firm had revenue of $836.20 million for the quarter, compared to analysts’ expectations of $829.41 million. During the same quarter last year, the firm earned $1.08 earnings per share. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. Analysts predict that Synopsys, Inc. will post 3.03 EPS for the current year.

In other Synopsys news, Chairman Geus Aart De sold 156,100 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $117.15, for a total value of $18,287,115.00. Following the transaction, the chairman now directly owns 189,894 shares of the company’s stock, valued at $22,246,082.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sudhindra Kankanwadi sold 3,133 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $121.88, for a total value of $381,850.04. Following the completion of the transaction, the vice president now directly owns 8,416 shares in the company, valued at $1,025,742.08. The disclosure for this sale can be found here. Insiders sold 207,180 shares of company stock worth $24,653,559 over the last three months. 1.84% of the stock is currently owned by corporate insiders.

Several equities research analysts have recently issued reports on SNPS shares. Wells Fargo & Co started coverage on Synopsys in a report on Tuesday, May 14th. They set an “outperform” rating and a $135.00 price objective on the stock. KeyCorp raised their price objective on Synopsys from $135.00 to $152.00 and gave the stock an “overweight” rating in a report on Friday, July 12th. Bank of America restated an “average” rating on shares of Synopsys in a report on Wednesday, June 5th. Zacks Investment Research cut Synopsys from a “hold” rating to a “sell” rating and set a $143.00 price objective on the stock. in a report on Wednesday, July 24th. Finally, BidaskClub cut Synopsys from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $128.00.

Synopsys Profile

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits (ICs). It offers Fusion Design Platform, a digital design implementation solution; 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.

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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