Westpac Banking Corp lifted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 0.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 220,868 shares of the semiconductor company’s stock after purchasing an additional 626 shares during the period. Westpac Banking Corp owned 0.15% of Synopsys worth $28,424,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SNPS. Steward Partners Investment Advisory LLC grew its holdings in Synopsys by 2.2% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 3,668 shares of the semiconductor company’s stock worth $472,000 after acquiring an additional 78 shares during the period. Greenleaf Trust grew its holdings in Synopsys by 1.9% during the 2nd quarter. Greenleaf Trust now owns 4,355 shares of the semiconductor company’s stock worth $560,000 after acquiring an additional 80 shares during the period. Securian Asset Management Inc grew its holdings in Synopsys by 0.6% during the 1st quarter. Securian Asset Management Inc now owns 15,405 shares of the semiconductor company’s stock worth $1,774,000 after acquiring an additional 97 shares during the period. Louisiana State Employees Retirement System grew its holdings in Synopsys by 1.3% during the 1st quarter. Louisiana State Employees Retirement System now owns 7,900 shares of the semiconductor company’s stock worth $910,000 after acquiring an additional 100 shares during the period. Finally, Flagship Harbor Advisors LLC grew its holdings in Synopsys by 78.7% during the 1st quarter. Flagship Harbor Advisors LLC now owns 227 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 100 shares during the period. 91.79% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ SNPS traded up $4.30 during midday trading on Tuesday, reaching $132.46. 42,566 shares of the stock were exchanged, compared to its average volume of 792,895. The business’s 50-day moving average is $133.06. The stock has a market capitalization of $19.64 billion, a P/E ratio of 46.88, a price-to-earnings-growth ratio of 3.93 and a beta of 1.27. Synopsys, Inc. has a 12 month low of $79.14 and a 12 month high of $138.72. The company has a quick ratio of 0.85, a current ratio of 0.95 and a debt-to-equity ratio of 0.03.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.73 by $0.04. The business had revenue of $836.20 million for the quarter, compared to analysts’ expectations of $829.41 million. Synopsys had a net margin of 18.74% and a return on equity of 16.88%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.08 EPS. Equities research analysts anticipate that Synopsys, Inc. will post 3.03 earnings per share for the current year.

In related news, Chairman Geus Aart De sold 156,100 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $117.15, for a total value of $18,287,115.00. Following the sale, the chairman now directly owns 189,894 shares of the company’s stock, valued at approximately $22,246,082.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Chi-Foon Chan sold 5,105 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $117.15, for a total transaction of $598,050.75. Following the completion of the sale, the chief executive officer now directly owns 204,117 shares in the company, valued at $23,912,306.55. The disclosure for this sale can be found here. Insiders sold a total of 207,180 shares of company stock worth $24,653,559 over the last ninety days. 1.84% of the stock is currently owned by insiders.

A number of analysts have commented on the stock. KeyCorp lifted their target price on shares of Synopsys from $135.00 to $152.00 and gave the stock an “overweight” rating in a report on Friday, July 12th. Wells Fargo & Co assumed coverage on shares of Synopsys in a report on Tuesday, May 14th. They set an “outperform” rating and a $135.00 target price for the company. Zacks Investment Research cut shares of Synopsys from a “hold” rating to a “sell” rating and set a $143.00 price target on the stock. in a research report on Wednesday, July 24th. Bank of America reissued an “average” rating on shares of Synopsys in a research report on Wednesday, June 5th. Finally, BidaskClub cut shares of Synopsys from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $128.00.

About Synopsys

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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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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