GYL Financial Synergies LLC acquired a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,672 shares of the semiconductor company’s stock, valued at approximately $999,000.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Lunia Capital LP bought a new position in shares of Synopsys during the fourth quarter valued at about $18,330,000. Vanguard Group Inc lifted its position in shares of Synopsys by 1.3% during the third quarter. Vanguard Group Inc now owns 15,851,502 shares of the semiconductor company’s stock valued at $1,563,115,000 after purchasing an additional 204,619 shares in the last quarter. BlackRock Inc. lifted its position in shares of Synopsys by 1.1% during the first quarter. BlackRock Inc. now owns 12,336,835 shares of the semiconductor company’s stock valued at $1,420,588,000 after purchasing an additional 134,481 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Synopsys by 40.3% during the first quarter. JPMorgan Chase & Co. now owns 5,273,032 shares of the semiconductor company’s stock valued at $607,189,000 after purchasing an additional 1,513,575 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its position in shares of Synopsys by 21.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,445,826 shares of the semiconductor company’s stock valued at $206,037,000 after purchasing an additional 439,292 shares in the last quarter. Hedge funds and other institutional investors own 91.89% of the company’s stock.
In other Synopsys news, Director Chrysostomos L. Nikias sold 1,050 shares of Synopsys stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $117.36, for a total value of $123,228.00. Following the sale, the director now owns 22,881 shares of the company’s stock, valued at $2,685,314.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Geus Aart De sold 156,100 shares of Synopsys stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $117.15, for a total transaction of $18,287,115.00. Following the completion of the sale, the chairman now directly owns 189,894 shares in the company, valued at approximately $22,246,082.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 187,888 shares of company stock worth $22,055,444. Insiders own 1.84% of the company’s stock.
Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.73 by $0.04. The business had revenue of $836.20 million for the quarter, compared to analyst estimates of $829.41 million. Synopsys had a net margin of 18.74% and a return on equity of 16.88%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.08 earnings per share. Analysts forecast that Synopsys, Inc. will post 3.03 earnings per share for the current year.
SNPS has been the topic of a number of recent analyst reports. DA Davidson raised their price target on shares of Synopsys to $135.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Wells Fargo & Co initiated coverage on shares of Synopsys in a research report on Tuesday, May 14th. They set an “outperform” rating and a $135.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and set a $120.00 price target on shares of Synopsys in a research report on Wednesday, April 3rd. BidaskClub raised shares of Synopsys from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 13th. Finally, Royal Bank of Canada raised their price target on shares of Synopsys from $130.00 to $140.00 and gave the company a “top pick” rating in a research report on Thursday, April 11th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $124.00.
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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