Point72 Asset Management L.P. Lowers Holdings in Synopsys, Inc. (NASDAQ:SNPS)

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Point72 Asset Management L.P. decreased its position in Synopsys, Inc. (NASDAQ:SNPS) by 24.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 335,112 shares of the semiconductor company’s stock after selling 107,783 shares during the period. Point72 Asset Management L.P. owned 0.22% of Synopsys worth $43,126,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. California State Teachers Retirement System lifted its holdings in Synopsys by 0.5% during the second quarter. California State Teachers Retirement System now owns 263,974 shares of the semiconductor company’s stock worth $33,971,000 after buying an additional 1,238 shares during the period. Morgens Waterfall Vintiadis & Co. Inc. purchased a new stake in Synopsys during the second quarter worth $3,861,000. AQR Capital Management LLC lifted its holdings in Synopsys by 14.7% during the second quarter. AQR Capital Management LLC now owns 627,001 shares of the semiconductor company’s stock worth $78,989,000 after buying an additional 80,455 shares during the period. Paloma Partners Management Co purchased a new stake in Synopsys during the second quarter worth $1,899,000. Finally, Man Group plc lifted its holdings in Synopsys by 94.4% during the second quarter. Man Group plc now owns 181,802 shares of the semiconductor company’s stock worth $23,396,000 after buying an additional 88,287 shares during the period. Hedge funds and other institutional investors own 89.28% of the company’s stock.

SNPS has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on Synopsys from $138.00 to $157.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. BidaskClub downgraded Synopsys from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Wells Fargo & Co reaffirmed an “outperform” rating and set a $160.00 price target (up from $150.00) on shares of Synopsys in a research report on Thursday, August 22nd. DA Davidson upped their price target on Synopsys to $155.00 and gave the stock a “positive” rating in a research report on Thursday, August 22nd. Finally, Needham & Company LLC upped their price target on Synopsys from $125.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Four research 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’s stock. Synopsys presently has an average rating of “Buy” and a consensus price target of $143.10.

Shares of NASDAQ SNPS traded down $1.41 during mid-day trading on Friday, hitting $135.72. The stock had a trading volume of 745,315 shares, compared to its average volume of 1,219,921. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.90 and a current ratio of 0.99. The company has a 50 day moving average of $134.77 and a two-hundred day moving average of $124.67. Synopsys, Inc. has a twelve month low of $79.14 and a twelve month high of $146.66. The firm has a market cap of $20.51 billion, a PE ratio of 48.13, a PEG ratio of 3.61 and a beta of 1.23.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.03. Synopsys had a return on equity of 16.56% and a net margin of 18.94%. The firm had revenue of $853.00 million for the quarter, compared to the consensus estimate of $831.03 million. During the same period in the prior year, the firm earned $0.95 EPS. The firm’s revenue was up 9.5% on a year-over-year basis. Equities research analysts predict that Synopsys, Inc. will post 3.15 EPS for the current fiscal year.

In other Synopsys news, CEO Chi-Foon Chan sold 4,578 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $137.14, for a total transaction of $627,826.92. Following the sale, the chief executive officer now directly owns 199,539 shares of the company’s stock, 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, Director Steven Walske sold 2,453 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $126.54, for a total value of $310,402.62. Following the sale, the director now directly owns 14,038 shares in the company, valued at $1,776,368.52. The disclosure for this sale can be found here. Insiders have sold a total of 40,638 shares of company stock worth $5,480,021 over the last ninety days. 1.84% of the stock is owned by insiders.

About Synopsys

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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