Chicago Equity Partners LLC Has $2.67 Million Position in Synopsys, Inc. (SNPS)
Chicago Equity Partners LLC increased its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 30.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,645 shares of the semiconductor company’s stock after purchasing an additional 8,515 shares during the quarter. Chicago Equity Partners LLC’s holdings in Synopsys were worth $2,673,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. IFP Advisors Inc grew its stake in shares of Synopsys by 40.4% in the second quarter. IFP Advisors Inc now owns 1,441 shares of the semiconductor company’s stock worth $105,000 after purchasing an additional 415 shares during the last quarter. YorkBridge Wealth Partners LLC grew its stake in shares of Synopsys by 6.6% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,487 shares of the semiconductor company’s stock worth $110,000 after purchasing an additional 92 shares during the last quarter. Mckinley Capital Management LLC Delaware bought a new stake in shares of Synopsys in the first quarter worth $121,000. Robecosam AG grew its stake in shares of Synopsys by 10.0% in the first quarter. Robecosam AG now owns 2,200 shares of the semiconductor company’s stock worth $159,000 after purchasing an additional 200 shares during the last quarter. Finally, SRS Capital Advisors Inc. grew its stake in shares of Synopsys by 14.4% in the first quarter. SRS Capital Advisors Inc. now owns 2,226 shares of the semiconductor company’s stock worth $160,000 after purchasing an additional 281 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors.
Several analysts recently weighed in on SNPS shares. J P Morgan Chase & Co reissued an “average” rating on shares of Synopsys in a research note on Friday, May 26th. Bank of America Corporation reissued a “buy” rating and issued a $87.00 price objective (up previously from $80.00) on shares of Synopsys in a research note on Friday, May 19th. DA Davidson reissued a “buy” rating and issued a $85.00 price objective (up previously from $77.00) on shares of Synopsys in a research note on Friday, May 19th. BidaskClub cut shares of Synopsys from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $77.00 price objective (up previously from $76.00) on shares of Synopsys in a research note on Thursday, May 18th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $83.38.
Shares of Synopsys, Inc. (NASDAQ SNPS) opened at 80.41 on Tuesday. Synopsys, Inc. has a 12 month low of $56.03 and a 12 month high of $80.70. The firm’s 50-day moving average is $77.24 and its 200-day moving average is $73.90. The company has a market cap of $12.08 billion, a PE ratio of 37.75 and a beta of 0.99.
Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 16th. The semiconductor company reported $0.92 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.92. Synopsys had a net margin of 12.37% and a return on equity of 11.60%. The firm had revenue of $695.40 million for the quarter, compared to analyst estimates of $691.22 million. During the same quarter in the previous year, the firm posted $0.76 EPS. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, equities research analysts predict that Synopsys, Inc. will post $3.31 earnings per share for the current year.
Synopsys declared that its board has authorized a share buyback program on Friday, June 16th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the semiconductor company to repurchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
In related news, CEO Chi-Foon Chan sold 3,750 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $77.50, for a total transaction of $290,625.00. Following the completion of the sale, the chief executive officer now directly owns 200,429 shares in the company, valued at $15,533,247.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph W. Logan sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $76.99, for a total transaction of $384,950.00. Following the sale, the executive vice president now owns 63,793 shares of the company’s stock, valued at $4,911,423.07. The disclosure for this sale can be found here. 1.82% of the stock is currently owned by insiders.
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.
Want to see what other hedge funds are holding SNPS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synopsys, Inc. (NASDAQ:SNPS).
Receive News & Stock Ratings for Synopsys Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synopsys Inc. and related stocks with our FREE daily email newsletter.