Earnest Partners LLC Acquires 37,333 Shares of Synopsys, Inc. (NASDAQ:SNPS)

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Earnest Partners LLC lifted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 6.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 651,087 shares of the semiconductor company’s stock after buying an additional 37,333 shares during the quarter. Earnest Partners LLC owned about 0.43% of Synopsys worth $83,788,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Canada Pension Plan Investment Board raised its holdings in shares of Synopsys by 76.9% in the second quarter. Canada Pension Plan Investment Board now owns 293,169 shares of the semiconductor company’s stock valued at $37,728,000 after buying an additional 127,477 shares during the last quarter. GYL Financial Synergies LLC bought a new stake in Synopsys during the 1st quarter worth about $999,000. Bailard Inc. bought a new stake in Synopsys during the 2nd quarter worth about $219,000. Janney Montgomery Scott LLC raised its holdings in Synopsys by 6.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 3,668 shares of the semiconductor company’s stock worth $422,000 after purchasing an additional 229 shares during the last quarter. Finally, TD Asset Management Inc. raised its holdings in Synopsys by 65.0% during the 1st quarter. TD Asset Management Inc. now owns 131,270 shares of the semiconductor company’s stock worth $15,116,000 after purchasing an additional 51,691 shares during the last quarter. 89.84% of the stock is owned by institutional investors and hedge funds.

Synopsys stock opened at $136.89 on Friday. The firm has a market capitalization of $20.65 billion, a P/E ratio of 48.54, a PEG ratio of 3.58 and a beta of 1.23. Synopsys, Inc. has a 1 year low of $79.14 and a 1 year high of $146.66. The business has a 50-day moving average of $134.96 and a 200-day moving average of $123.37. The company has a current ratio of 0.99, a quick ratio of 0.90 and a debt-to-equity ratio of 0.03.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The company had revenue of $853.00 million during the quarter, compared to analyst estimates of $831.03 million. Synopsys had a return on equity of 16.56% and a net margin of 18.94%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.95 EPS. Research analysts anticipate that Synopsys, Inc. will post 3.15 EPS for the current fiscal year.

In related news, CEO Chi-Foon Chan sold 4,578 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $137.14, for a total value of $627,826.92. Following the completion of the transaction, the chief executive officer now directly owns 199,539 shares in the company, valued at approximately $27,364,778.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sudhindra Kankanwadi sold 8,011 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $144.30, for a total value of $1,155,987.30. Following the completion of the transaction, the vice president now owns 8,663 shares of the company’s stock, valued at $1,250,070.90. The disclosure for this sale can be found here. Insiders have sold a total of 51,881 shares of company stock valued at $6,932,729 over the last 90 days. Corporate insiders own 1.84% of the company’s stock.

SNPS has been the subject of several recent research reports. Credit Suisse Group reissued a “positive” rating and set a $150.00 price objective (up from $125.00) on shares of Synopsys in a report on Thursday, August 22nd. Zacks Investment Research raised Synopsys from a “sell” rating to a “hold” rating and set a $142.00 price objective for the company in a report on Monday, August 26th. Wells Fargo & Co reissued an “outperform” rating and set a $160.00 price objective (up from $150.00) on shares of Synopsys in a report on Thursday, August 22nd. KeyCorp boosted their price objective on Synopsys from $152.00 to $153.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Finally, DA Davidson boosted their price objective on Synopsys to $155.00 and gave the stock a “positive” rating in a report on Thursday, August 22nd. Four 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 company. Synopsys presently has an average rating of “Buy” and an average price target of $143.10.

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.

Further Reading: Mutual Funds

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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