BB&T Corp trimmed its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 6.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,082 shares of the semiconductor company’s stock after selling 517 shares during the period. BB&T Corp’s holdings in Synopsys were worth $972,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. BlackRock Inc. lifted its stake in shares of Synopsys by 4.5% in the 2nd quarter. BlackRock Inc. now owns 12,891,437 shares of the semiconductor company’s stock valued at $1,658,997,000 after purchasing an additional 554,602 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Synopsys by 18.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,228,559 shares of the semiconductor company’s stock valued at $782,432,000 after purchasing an additional 955,527 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Synopsys by 33.9% in the 2nd quarter. Invesco Ltd. now owns 3,505,038 shares of the semiconductor company’s stock valued at $451,061,000 after purchasing an additional 888,033 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in shares of Synopsys by 4,054.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,958,501 shares of the semiconductor company’s stock valued at $252,039,000 after purchasing an additional 1,911,360 shares in the last quarter. Finally, California Public Employees Retirement System lifted its stake in shares of Synopsys by 9.8% in the 3rd quarter. California Public Employees Retirement System now owns 1,200,695 shares of the semiconductor company’s stock valued at $164,795,000 after purchasing an additional 107,078 shares in the last quarter. 89.19% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have recently weighed in on SNPS. BidaskClub lowered Synopsys from a “buy” rating to a “hold” rating in a research note on Saturday, October 19th. KeyCorp lifted their price objective on Synopsys from $152.00 to $153.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $160.00 price objective (up from $150.00) on shares of Synopsys in a research note on Thursday, August 22nd. Zacks Investment Research raised Synopsys from a “sell” rating to a “hold” rating and set a $142.00 price objective on the stock in a research note on Monday, August 26th. Finally, DA Davidson lifted their price objective on Synopsys to $155.00 and gave the company a “positive” rating in a research note on Thursday, August 22nd. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Synopsys currently has a consensus rating of “Buy” and a consensus target price of $145.64.

Shares of NASDAQ:SNPS opened at $136.21 on Friday. The company has a market cap of $20.38 billion, a P/E ratio of 48.30, a PEG ratio of 3.32 and a beta of 1.20. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.90 and a current ratio of 0.99. Synopsys, Inc. has a one year low of $79.14 and a one year high of $146.66. The business’s 50-day simple moving average is $136.69 and its 200 day simple moving average is $130.73.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.62 by $0.03. The business had revenue of $853.00 million for the quarter, compared to the consensus estimate of $831.03 million. Synopsys had a return on equity of 16.56% and a net margin of 18.94%. The company’s revenue was up 9.5% on a year-over-year basis. During the same period last year, the business posted $0.95 EPS. Analysts predict that Synopsys, Inc. will post 3.15 earnings per share for the current year.

In related news, CEO Chi-Foon Chan sold 4,578 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $137.14, for a total transaction of $627,826.92. Following the sale, the chief executive officer now directly owns 199,539 shares in the company, valued at approximately $27,364,778.46. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel John F. Runkel, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $137.47, for a total value of $1,374,700.00. Following the sale, the general counsel now owns 16,848 shares in the company, valued at $2,316,094.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,589 shares of company stock worth $3,158,514. Company insiders own 1.84% of the company’s stock.

Synopsys Company Profile

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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