Elkfork Partners LLC lowered its position in Synopsys, Inc. (NASDAQ:SNPS) by 12.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,076 shares of the semiconductor company’s stock after selling 840 shares during the period. Elkfork Partners LLC’s holdings in Synopsys were worth $782,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Next Capital Management LLC acquired a new position in shares of Synopsys during the 2nd quarter worth approximately $26,000. Ruggie Capital Group acquired a new position in shares of Synopsys during the 2nd quarter worth approximately $32,000. Hanseatic Management Services Inc. acquired a new position in shares of Synopsys during the 1st quarter worth approximately $30,000. Arcadia Investment Management Corp MI acquired a new position in shares of Synopsys during the 2nd quarter worth approximately $42,000. Finally, Motco acquired a new position in shares of Synopsys during the 2nd quarter worth approximately $43,000. Hedge funds and other institutional investors own 89.28% of the company’s stock.
In other news, CEO Chi-Foon Chan sold 4,578 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were 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 $27,364,778.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel John F. Runkel, Jr. sold 10,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $137.47, for a total transaction of $1,374,700.00. Following the sale, the general counsel now directly owns 16,848 shares of the company’s stock, valued at $2,316,094.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,589 shares of company stock valued at $3,158,514. Insiders own 1.84% of the company’s stock.
Shares of SNPS stock opened at $136.21 on Friday. The firm has a market capitalization of $20.95 billion, a P/E ratio of 34.08, a P/E/G ratio of 3.69 and a beta of 1.23. The company’s fifty day moving average price is $135.93 and its two-hundred day moving average price is $125.85. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.99 and a quick ratio of 0.90. Synopsys, Inc. has a 12 month low of $79.14 and a 12 month high of $146.66.
Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. Synopsys had a net margin of 18.94% and a return on equity of 16.56%. The business had revenue of $853.00 million for the quarter, compared to analyst estimates of $831.03 million. During the same quarter in the prior year, the business posted $0.95 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, sell-side analysts anticipate that Synopsys, Inc. will post 3.15 EPS for the current year.
Several brokerages recently issued reports on SNPS. JPMorgan Chase & Co. lifted their price objective on Synopsys from $138.00 to $157.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. DA Davidson lifted their target price on shares of Synopsys to $155.00 and gave the stock a “positive” rating in a research note on Thursday, August 22nd. Needham & Company LLC lifted their target price on shares of Synopsys from $125.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Credit Suisse Group reissued a “positive” rating and set a $150.00 price objective (up from $125.00) on shares of Synopsys in a research note on Thursday, August 22nd. Finally, Bank of America started coverage on shares of Synopsys in a research note on Monday, September 23rd. They set a “buy” rating and a $171.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Synopsys currently has a consensus rating of “Buy” and an average price target of $145.64.
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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