Great Lakes Advisors LLC Decreases Stake in Synopsys, Inc. (SNPS)

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Great Lakes Advisors LLC lowered its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 5.1% in the first quarter, HoldingsChannel.com reports. The firm owned 2,296 shares of the semiconductor company’s stock after selling 123 shares during the period. Great Lakes Advisors LLC’s holdings in Synopsys were worth $264,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Legal & General Group Plc grew its holdings in shares of Synopsys by 9.7% during the third quarter. Legal & General Group Plc now owns 901,210 shares of the semiconductor company’s stock valued at $88,853,000 after buying an additional 79,623 shares during the last quarter. Vanguard Group Inc grew its holdings in shares of Synopsys by 1.3% during the third quarter. Vanguard Group Inc now owns 15,851,502 shares of the semiconductor company’s stock valued at $1,563,115,000 after buying an additional 204,619 shares during the last quarter. IFM Investors Pty Ltd grew its holdings in shares of Synopsys by 3.4% during the fourth quarter. IFM Investors Pty Ltd now owns 9,210 shares of the semiconductor company’s stock valued at $776,000 after buying an additional 305 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Synopsys by 3.9% during the fourth quarter. Fisher Asset Management LLC now owns 187,794 shares of the semiconductor company’s stock valued at $15,820,000 after buying an additional 7,109 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD lifted its position in Synopsys by 0.7% during the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 26,502 shares of the semiconductor company’s stock valued at $2,232,000 after purchasing an additional 181 shares during the period. Institutional investors and hedge funds own 91.04% of the company’s stock.

Shares of Synopsys stock opened at $116.71 on Friday. The company has a market cap of $17.47 billion, a P/E ratio of 41.39, a P/E/G ratio of 3.32 and a beta of 1.30. Synopsys, Inc. has a twelve month low of $79.14 and a twelve month high of $124.12. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.82 and a current ratio of 0.89.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $0.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.04. Synopsys had a net margin of 18.59% and a return on equity of 17.23%. The business had revenue of $836.20 million for the quarter, compared to the consensus estimate of $829.41 million. During the same period last year, the firm earned $1.08 earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis. On average, research analysts anticipate that Synopsys, Inc. will post 3.17 earnings per share for the current fiscal year.

In other Synopsys news, CFO Trac Pham sold 8,365 shares of the stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $103.00, for a total value of $861,595.00. Following the transaction, the chief financial officer now directly owns 37,167 shares in the company, valued at $3,828,201. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Schwarz sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $117.61, for a total transaction of $1,176,100.00. Following the completion of the transaction, the director now owns 16,491 shares in the company, valued at $1,939,506.51. The disclosure for this sale can be found here. Insiders sold 25,450 shares of company stock worth $2,799,395 over the last quarter. Insiders own 1.84% of the company’s stock.

SNPS has been the topic of a number of research analyst reports. DA Davidson increased their price objective on shares of Synopsys to $135.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. BidaskClub upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research report on Saturday, February 9th. Needham & Company LLC restated a “buy” rating and set a $120.00 price objective on shares of Synopsys in a research report on Wednesday, April 3rd. Wells Fargo & Co initiated coverage on shares of Synopsys in a research report on Tuesday, May 14th. They set an “outperform” rating and a $135.00 price objective on the stock. Finally, Royal Bank of Canada increased their price objective on shares of Synopsys from $130.00 to $140.00 and gave the company a “top pick” rating in a research report on Thursday, April 11th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $123.22.

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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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