Synopsys, Inc. (SNPS) Position Decreased by Achmea Investment Management B.V.
Achmea Investment Management B.V. cut its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 5.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,079 shares of the semiconductor company’s stock after selling 2,424 shares during the quarter. Achmea Investment Management B.V.’s holdings in Synopsys were worth $3,285,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Credit Suisse AG increased its holdings in shares of Synopsys by 14.4% during the 1st quarter. Credit Suisse AG now owns 399,430 shares of the semiconductor company’s stock worth $28,810,000 after acquiring an additional 50,214 shares during the last quarter. AXA increased its holdings in shares of Synopsys by 22.8% during the 2nd quarter. AXA now owns 704,528 shares of the semiconductor company’s stock worth $51,382,000 after acquiring an additional 130,700 shares during the last quarter. Shelton Capital Management acquired a new position in shares of Synopsys during the 1st quarter worth approximately $821,000. Bridgewater Associates LP acquired a new position in shares of Synopsys during the 2nd quarter worth approximately $448,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of Synopsys by 3.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,277,670 shares of the semiconductor company’s stock worth $311,973,000 after acquiring an additional 125,190 shares during the last quarter. 88.83% of the stock is currently owned by institutional investors and hedge funds.
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Synopsys, Inc. (SNPS) traded up 1.03% on Friday, hitting $84.24. The company had a trading volume of 107,694 shares. The stock has a 50 day moving average of $81.17 and a 200-day moving average of $76.31. Synopsys, Inc. has a one year low of $56.03 and a one year high of $85.00. The stock has a market capitalization of $12.66 billion, a PE ratio of 39.55 and a beta of 1.00.
Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, August 16th. The semiconductor company reported $0.92 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.92. The business had revenue of $695.40 million for the quarter, compared to analyst estimates of $691.22 million. Synopsys had a return on equity of 11.60% and a net margin of 12.37%. Synopsys’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period last year, the company posted $0.76 earnings per share. Equities analysts anticipate that Synopsys, Inc. will post $3.31 EPS for the current year.
In other Synopsys news, CEO Chi-Foon Chan sold 3,750 shares of the business’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $77.50, for a total value of $290,625.00. Following 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 filing with the SEC, which is accessible through this link. Also, EVP Joseph W. Logan sold 5,000 shares of the business’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $76.99, for a total value of $384,950.00. Following the completion of the sale, the executive vice president now 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.
A number of research analysts recently weighed in on the company. Royal Bank Of Canada boosted their target price on Synopsys from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, August 17th. Zacks Investment Research raised Synopsys from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a report on Monday, August 21st. BidaskClub raised Synopsys from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 17th. Needham & Company LLC reissued a “buy” rating and set a $83.00 target price (up from $77.00) on shares of Synopsys in a report on Thursday, August 17th. Finally, Credit Suisse Group reissued a “positive” rating and set a $90.00 target price (up from $82.00) on shares of Synopsys in a report on Tuesday, August 15th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Synopsys presently has a consensus rating of “Buy” and an average price target of $84.00.
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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