Bank of New York Mellon Corp lessened its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,028,411 shares of the semiconductor company’s stock after selling 14,866 shares during the quarter. Bank of New York Mellon Corp’s holdings in Synopsys were worth $88,001,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SNPS. Principal Financial Group Inc. lifted its position in shares of Synopsys by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 893,070 shares of the semiconductor company’s stock worth $74,339,000 after buying an additional 20,989 shares during the last quarter. Brown Advisory Inc. bought a new stake in shares of Synopsys during the 1st quarter worth $322,000. DnB Asset Management AS lifted its position in shares of Synopsys by 4.0% during the 2nd quarter. DnB Asset Management AS now owns 20,969 shares of the semiconductor company’s stock worth $1,794,000 after buying an additional 800 shares during the last quarter. IFM Investors Pty Ltd lifted its position in shares of Synopsys by 44.3% during the 2nd quarter. IFM Investors Pty Ltd now owns 7,822 shares of the semiconductor company’s stock worth $669,000 after buying an additional 2,400 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its position in shares of Synopsys by 15.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 37,715 shares of the semiconductor company’s stock worth $3,225,000 after buying an additional 4,930 shares during the last quarter. 87.32% of the stock is owned by institutional investors.

Several equities analysts have commented on SNPS shares. JPMorgan Chase & Co. increased their target price on Synopsys to $98.00 and gave the company an “underweight” rating in a research report on Thursday, August 23rd. BidaskClub downgraded Synopsys from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. DA Davidson increased their target price on Synopsys to $110.00 and gave the company a “buy” rating in a research report on Thursday, August 23rd. Zacks Investment Research upgraded Synopsys from a “hold” rating to a “buy” rating and set a $99.00 target price for the company in a research report on Tuesday, October 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $105.00 target price (up from $100.00) on shares of Synopsys in a research report on Thursday, August 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $107.00.

Synopsys stock opened at $93.35 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $13.85 billion, a price-to-earnings ratio of 106.08, a PEG ratio of 3.67 and a beta of 1.27. Synopsys, Inc. has a 12 month low of $80.13 and a 12 month high of $103.40.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, August 22nd. The semiconductor company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.92 by $0.03. The firm had revenue of $779.70 million during the quarter, compared to the consensus estimate of $773.61 million. Synopsys had a return on equity of 5.52% and a net margin of 1.92%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the company earned $0.92 earnings per share. On average, research analysts anticipate that Synopsys, Inc. will post 1.57 EPS for the current year.

In other news, EVP Joseph W. Logan sold 20,000 shares of the stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $101.43, for a total value of $2,028,600.00. Following the completion of the sale, the executive vice president now owns 88,271 shares of the company’s stock, valued at $8,953,327.53. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel John F. Runkel, Jr. sold 10,000 shares of the stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $102.00, for a total value of $1,020,000.00. Following the completion of the sale, the general counsel now directly owns 22,322 shares of the company’s stock, valued at approximately $2,276,844. The disclosure for this sale can be found here. Insiders sold 33,609 shares of company stock valued at $3,416,177 over the last quarter. Corporate insiders own 1.84% of the company’s stock.

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Synopsys Company Profile

Synopsys, Inc provides electronic design automation (EDA) software products used to design and test integrated circuits (ICs). It offers Galaxy Design platform that offers IC design solutions; 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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