Piedmont Investment Advisors LLC purchased a new position in Synopsys, Inc. (NASDAQ:SNPS) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 7,810 shares of the semiconductor company’s stock, valued at approximately $629,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Synopsys by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 15,500,829 shares of the semiconductor company’s stock worth $1,130,474,000 after buying an additional 469,622 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Synopsys by 3.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,277,670 shares of the semiconductor company’s stock worth $311,973,000 after purchasing an additional 125,190 shares during the period. Janus Henderson Group PLC raised its holdings in Synopsys by 14,458.8% in the 2nd quarter. Janus Henderson Group PLC now owns 3,226,957 shares of the semiconductor company’s stock worth $235,342,000 after purchasing an additional 3,204,792 shares during the period. Swedbank raised its holdings in Synopsys by 8.6% in the 3rd quarter. Swedbank now owns 2,262,107 shares of the semiconductor company’s stock worth $182,167,000 after purchasing an additional 179,528 shares during the period. Finally, Pictet Asset Management Ltd. raised its holdings in Synopsys by 79.9% in the 3rd quarter. Pictet Asset Management Ltd. now owns 2,117,337 shares of the semiconductor company’s stock worth $170,509,000 after purchasing an additional 940,616 shares during the period. Hedge funds and other institutional investors own 89.82% of the company’s stock.
Shares of Synopsys, Inc. (NASDAQ SNPS) opened at $87.86 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $13,180.00, a PE ratio of 72.11, a price-to-earnings-growth ratio of 4.30 and a beta of 1.01. Synopsys, Inc. has a twelve month low of $58.74 and a twelve month high of $94.80.
A number of brokerages recently commented on SNPS. J P Morgan Chase & Co cut Synopsys from a “neutral” rating to an “underweight” rating and set a $87.00 target price on the stock. in a report on Tuesday, December 12th. Zacks Investment Research raised Synopsys from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a report on Monday, August 21st. KeyCorp reaffirmed an “overweight” rating and issued a $106.00 target price (up from $86.00) on shares of Synopsys in a report on Thursday, November 30th. TheStreet cut Synopsys from an “a” rating to a “c+” rating in a report on Wednesday, November 29th. Finally, Needham & Company LLC raised their target price on Synopsys from $83.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, December 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $96.89.
In other Synopsys news, Director Chrysostomos L. Nikias sold 21,074 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $89.78, for a total transaction of $1,892,023.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Joseph W. Logan sold 5,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $90.33, for a total value of $451,650.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,824 shares of company stock worth $2,680,349. Insiders own 1.82% of the company’s stock.
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Synopsys Company Profile
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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