Synopsys, Inc. (SNPS) Position Reduced by Ardevora Asset Management LLP
Ardevora Asset Management LLP cut its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 5.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 484,700 shares of the semiconductor company’s stock after selling 25,400 shares during the period. Synopsys accounts for about 1.2% of Ardevora Asset Management LLP’s portfolio, making the stock its 17th largest holding. Ardevora Asset Management LLP owned approximately 0.32% of Synopsys worth $39,033,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in SNPS. Janus Henderson Group PLC lifted its holdings in Synopsys by 14,458.8% in the second quarter. Janus Henderson Group PLC now owns 3,226,957 shares of the semiconductor company’s stock valued at $235,342,000 after acquiring an additional 3,204,792 shares during the last quarter. Pictet Asset Management Ltd. lifted its holdings in Synopsys by 79.9% in the third quarter. Pictet Asset Management Ltd. now owns 2,117,337 shares of the semiconductor company’s stock valued at $170,509,000 after acquiring an additional 940,616 shares during the last quarter. AJO LP lifted its stake in Synopsys by 132.1% during the second quarter. AJO LP now owns 1,449,128 shares of the semiconductor company’s stock worth $105,685,000 after purchasing an additional 824,879 shares in the last quarter. Koch Industries Inc. acquired a new position in Synopsys during the second quarter worth $485,000. Finally, Vanguard Group Inc. lifted its stake in Synopsys by 3.1% during the second quarter. Vanguard Group Inc. now owns 15,500,829 shares of the semiconductor company’s stock worth $1,130,474,000 after purchasing an additional 469,622 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.
In related news, EVP Joseph W. Logan sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $76.99, for a total transaction of $384,950.00. Following the transaction, the executive vice president now owns 63,793 shares of the company’s stock, valued at $4,911,423.07. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Chi-Foon Chan sold 3,750 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $77.50, for a total value of $290,625.00. Following the transaction, the chief executive officer now directly owns 200,429 shares in the company, valued at approximately $15,533,247.50. The disclosure for this sale can be found here. Company insiders own 1.82% of the company’s stock.
A number of research analysts have commented on the company. BidaskClub upgraded Synopsys from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 17th. Credit Suisse Group restated a “positive” rating and set a $90.00 price target (up from $82.00) on shares of Synopsys in a research note on Tuesday, August 15th. Needham & Company LLC restated a “buy” rating and set a $83.00 price target (up from $77.00) on shares of Synopsys in a research note on Thursday, August 17th. Royal Bank Of Canada upped their price target on Synopsys from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, August 17th. Finally, Zacks Investment Research cut Synopsys from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $85.25.
Shares of Synopsys, Inc. (NASDAQ SNPS) traded up $0.54 during mid-day trading on Tuesday, hitting $87.82. The company’s stock had a trading volume of 986,100 shares, compared to its average volume of 1,050,148. The stock has a market capitalization of $13,113.62, a price-to-earnings ratio of 35.05, a price-to-earnings-growth ratio of 3.97 and a beta of 1.00. Synopsys, Inc. has a 12 month low of $56.03 and a 12 month high of $87.94. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.07 and a current ratio of 1.07.
Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, August 16th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.92. Synopsys had a return on equity of 11.60% and a net margin of 12.37%. The firm had revenue of $695.40 million for the quarter, compared to analyst estimates of $691.22 million. During the same quarter last year, the company posted $0.76 earnings per share. The business’s revenue was up 13.0% on a year-over-year basis. research analysts forecast that Synopsys, Inc. will post 1.93 EPS for the current fiscal year.
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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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