Nippon Life Insurance Co. lowered its stake in Synopsys, Inc. (NASDAQ:SNPS) by 5.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,630 shares of the semiconductor company’s stock after selling 1,087 shares during the period. Nippon Life Insurance Co.’s holdings in Synopsys were worth $1,505,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. BlackRock Inc. raised its position in Synopsys by 3,273.6% in the first quarter. BlackRock Inc. now owns 12,796,224 shares of the semiconductor company’s stock valued at $922,991,000 after buying an additional 12,416,921 shares during the last quarter. Vanguard Group Inc. raised its position in Synopsys by 21.6% in the first quarter. Vanguard Group Inc. now owns 15,031,207 shares of the semiconductor company’s stock valued at $1,084,201,000 after buying an additional 2,672,954 shares during the last quarter. Swedbank bought a new position in Synopsys during the first quarter valued at about $136,109,000. State Street Corp raised its position in Synopsys by 19.9% in the first quarter. State Street Corp now owns 7,240,263 shares of the semiconductor company’s stock valued at $522,251,000 after buying an additional 1,201,269 shares during the last quarter. Finally, Morgan Stanley raised its position in Synopsys by 155.6% in the first quarter. Morgan Stanley now owns 1,081,104 shares of the semiconductor company’s stock valued at $77,979,000 after buying an additional 658,199 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Shares of Synopsys, Inc. (SNPS) opened at 77.22 on Friday. The firm has a 50-day moving average price of $75.74 and a 200 day moving average price of $72.88. The stock has a market cap of $11.60 billion, a PE ratio of 36.25 and a beta of 1.02. Synopsys, Inc. has a 12-month low of $56.03 and a 12-month high of $79.66.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, August 16th. The semiconductor company reported $0.92 EPS for the quarter, meeting analysts’ consensus estimates of $0.92. The firm had revenue of $695.40 million for the quarter, compared to analysts’ expectations of $691.22 million. Synopsys had a return on equity of 11.60% and a net margin of 12.37%. The company’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.76 earnings per share. Equities research analysts expect that Synopsys, Inc. will post $3.31 earnings per share for the current year.

Synopsys declared that its board has approved a share repurchase plan on Friday, June 16th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 4.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

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Several equities analysts recently issued reports on SNPS shares. Zacks Investment Research lowered Synopsys from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th. BidaskClub lowered Synopsys from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Pacific Crest restated an “overweight” rating and set a $86.00 price target (up from $78.00) on shares of Synopsys in a research report on Friday, May 19th. Needham & Company LLC restated a “buy” rating and set a $77.00 price target (up from $76.00) on shares of Synopsys in a research report on Thursday, May 18th. Finally, DA Davidson restated a “buy” rating and set a $85.00 price target (up from $77.00) on shares of Synopsys in a research report on Friday, May 19th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $81.38.

Synopsys Company Profile

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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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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