Algert Global LLC decreased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 49.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,753 shares of the semiconductor company’s stock after selling 16,553 shares during the quarter. Algert Global LLC’s holdings in Synopsys were worth $1,428,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cerebellum GP LLC purchased a new position in shares of Synopsys during the 4th quarter valued at $124,000. Advisor Group Inc. lifted its stake in shares of Synopsys by 14.3% during the 2nd quarter. Advisor Group Inc. now owns 2,617 shares of the semiconductor company’s stock valued at $190,000 after buying an additional 327 shares in the last quarter. Coldstream Capital Management Inc. purchased a new position in shares of Synopsys during the 2nd quarter valued at $200,000. Conning Inc. purchased a new position in shares of Synopsys during the 4th quarter valued at $205,000. Finally, Tiemann Investment Advisors LLC purchased a new position in shares of Synopsys during the 3rd quarter valued at $214,000. Institutional investors own 90.77% of the company’s stock.
In related news, Director Chrysostomos L. Nikias sold 21,074 shares of Synopsys stock in a transaction dated Friday, December 1st. The shares were 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 Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven Walske sold 4,545 shares of Synopsys stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $90.12, for a total transaction of $409,595.40. Following the transaction, the director now directly owns 14,988 shares of the company’s stock, valued at $1,350,718.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,442 shares of company stock worth $5,779,693. Insiders own 1.82% of the company’s stock.
Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, November 29th. The semiconductor company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.12. Synopsys had a net margin of 5.01% and a return on equity of 5.78%. The firm had revenue of $696.60 million for the quarter, compared to the consensus estimate of $650.72 million. During the same period in the previous year, the firm posted $0.77 EPS. The business’s quarterly revenue was up 9.9% on a year-over-year basis. equities research analysts predict that Synopsys, Inc. will post 2.24 earnings per share for the current year.
A number of research analysts recently weighed in on SNPS shares. Needham & Company LLC lifted their target price on shares of Synopsys from $83.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, December 1st. Royal Bank of Canada reiterated a “buy” rating and issued a $120.00 price target on shares of Synopsys in a report on Thursday, November 30th. BidaskClub upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. DA Davidson reiterated a “buy” rating and issued a $105.00 price target (up from $91.00) on shares of Synopsys in a report on Tuesday, November 28th. Finally, TheStreet downgraded shares of Synopsys from an “a” rating to a “c+” rating in a report on Wednesday, November 29th. Two equities research 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. Synopsys currently has a consensus rating of “Hold” and an average price target of $96.89.
TRADEMARK VIOLATION WARNING: This news story was first posted by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this news story on another site, it was copied illegally and reposted in violation of international copyright & trademark law. The correct version of this news story can be read at https://sportsperspectives.com/2018/02/04/algert-global-llc-has-1-43-million-position-in-synopsys-inc-snps.html.
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.
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).
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.