Laurion Capital Management LP Buys New Holdings in Synopsys, Inc. (SNPS)
Laurion Capital Management LP bought a new position in Synopsys, Inc. (NASDAQ:SNPS) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 59,000 shares of the semiconductor company’s stock, valued at approximately $4,303,000.
Several other hedge funds have also recently modified their holdings of the company. Sawtooth Solutions LLC increased its holdings in shares of Synopsys by 0.3% in the second quarter. Sawtooth Solutions LLC now owns 3,220 shares of the semiconductor company’s stock worth $235,000 after purchasing an additional 9 shares during the last quarter. Alps Advisors Inc. increased its holdings in shares of Synopsys by 0.3% in the second quarter. Alps Advisors Inc. now owns 6,767 shares of the semiconductor company’s stock worth $494,000 after purchasing an additional 18 shares during the last quarter. Ifrah Financial Services Inc. increased its holdings in shares of Synopsys by 1.2% in the second quarter. Ifrah Financial Services Inc. now owns 5,204 shares of the semiconductor company’s stock worth $380,000 after purchasing an additional 62 shares during the last quarter. Cypress Wealth Advisors LLC increased its holdings in shares of Synopsys by 1.7% in the first quarter. Cypress Wealth Advisors LLC now owns 4,763 shares of the semiconductor company’s stock worth $344,000 after purchasing an additional 81 shares during the last quarter. Finally, Pacer Advisors Inc. increased its holdings in shares of Synopsys by 3.2% in the first quarter. Pacer Advisors Inc. now owns 2,861 shares of the semiconductor company’s stock worth $206,000 after purchasing an additional 88 shares during the last quarter. 88.94% of the stock is currently owned by hedge funds and other institutional investors.
In other Synopsys news, CEO Chi-Foon Chan sold 3,750 shares of the firm’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 value of $290,625.00. Following the transaction, the chief executive officer now directly owns 200,429 shares of the company’s stock, valued at approximately $15,533,247.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph W. Logan sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $76.99, for a total transaction of $384,950.00. Following the completion of the transaction, the executive vice president now directly owns 63,793 shares in the company, valued at $4,911,423.07. The disclosure for this sale can be found here. Company insiders own 1.82% of the company’s stock.
Shares of Synopsys, Inc. (NASDAQ:SNPS) opened at 79.89 on Monday. The company has a market capitalization of $12.00 billion, a PE ratio of 37.51 and a beta of 0.99. Synopsys, Inc. has a 52 week low of $56.03 and a 52 week high of $80.70. The firm’s 50-day moving average price is $78.22 and its 200 day moving average price is $74.52.
Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, August 16th. The semiconductor company reported $0.92 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.92. Synopsys had a net margin of 12.37% and a return on equity of 11.60%. The business had revenue of $695.40 million for the quarter, compared to analyst estimates of $691.22 million. During the same period last year, the company posted $0.76 EPS. The business’s revenue was up 13.0% on a year-over-year basis. Equities analysts predict that Synopsys, Inc. will post $3.31 EPS for the current year.
Synopsys declared that its board has authorized a share buyback program on Friday, June 16th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to purchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
SNPS has been the topic of several research reports. Credit Suisse Group reaffirmed an “outperform” rating on shares of Synopsys in a report on Thursday, August 31st. BidaskClub raised Synopsys from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Zacks Investment Research cut Synopsys from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. HSBC Holdings plc reaffirmed an “average” rating on shares of Synopsys in a report on Thursday. Finally, J P Morgan Chase & Co reaffirmed an “average” rating on shares of Synopsys in a report on Friday, May 26th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Synopsys has an average rating of “Buy” and a consensus target price of $83.38.
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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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