Synopsys, Inc. (SNPS) Position Cut by Seven Eight Capital LP

Seven Eight Capital LP reduced its position in Synopsys, Inc. (NASDAQ:SNPS) by 64.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 23,900 shares of the semiconductor company’s stock after selling 42,400 shares during the period. Seven Eight Capital LP’s holdings in Synopsys were worth $2,357,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of SNPS. Blair William & Co. IL acquired a new stake in Synopsys in the 1st quarter valued at about $497,000. LPL Financial LLC raised its holdings in Synopsys by 33.1% in the 1st quarter. LPL Financial LLC now owns 21,565 shares of the semiconductor company’s stock valued at $1,790,000 after acquiring an additional 5,361 shares during the period. Legal & General Group Plc raised its holdings in Synopsys by 1.9% in the 1st quarter. Legal & General Group Plc now owns 862,693 shares of the semiconductor company’s stock valued at $71,778,000 after acquiring an additional 15,690 shares during the period. Principal Financial Group Inc. raised its holdings in Synopsys by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 893,070 shares of the semiconductor company’s stock valued at $74,339,000 after acquiring an additional 20,989 shares during the period. Finally, Mount Yale Investment Advisors LLC bought a new position in Synopsys in the 1st quarter valued at about $441,000. Institutional investors and hedge funds own 88.37% of the company’s stock.

In other news, CEO Chi-Foon Chan sold 3,609 shares of the firm’s stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $101.85, for a total transaction of $367,576.65. Following the transaction, the chief executive officer now directly owns 202,135 shares of the company’s stock, valued at $20,587,449.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph W. Logan sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $101.43, for a total transaction of $2,028,600.00. Following the transaction, the executive vice president now directly owns 88,271 shares in the company, valued at $8,953,327.53. The disclosure for this sale can be found here. Insiders have sold 33,609 shares of company stock worth $3,416,177 over the last ninety days. Insiders own 1.84% of the company’s stock.

Several research firms have weighed in on SNPS. BidaskClub cut shares of Synopsys from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. JPMorgan Chase & Co. increased their price target on shares of Synopsys to $98.00 and gave the company an “underweight” rating in a report on Thursday, August 23rd. DA Davidson increased their price target on shares of Synopsys to $110.00 and gave the company a “buy” rating in a report on Thursday, August 23rd. Needham & Company LLC reissued a “buy” rating and issued a $105.00 price target (up from $100.00) on shares of Synopsys in a report on Thursday, August 23rd. Finally, KeyCorp increased their price target on shares of Synopsys from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, August 23rd. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $106.14.

Shares of SNPS opened at $88.83 on Tuesday. Synopsys, Inc. has a 12 month low of $80.13 and a 12 month high of $103.40. The company has a market cap of $13.09 billion, a PE ratio of 100.94, a price-to-earnings-growth ratio of 5.60 and a beta of 1.18. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.04.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 22nd. The semiconductor company reported $0.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.03. Synopsys had a net margin of 1.92% and a return on equity of 5.52%. The company had revenue of $779.70 million for the quarter, compared to analysts’ expectations of $773.61 million. During the same period last year, the firm earned $0.92 earnings per share. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, equities analysts predict that Synopsys, Inc. will post 1.57 EPS for the current year.

Synopsys Profile

Synopsys, Inc provides electronic design automation (EDA) software products used to design and test integrated circuits (ICs). It offers Galaxy Design platform that offers IC design solutions; 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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