Cedar Capital LLC Purchases 371 Shares of Synopsys, Inc. (SNPS)

Cedar Capital LLC lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 6.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 6,481 shares of the semiconductor company’s stock after buying an additional 371 shares during the quarter. Cedar Capital LLC’s holdings in Synopsys were worth $746,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Securian Asset Management Inc grew its holdings in Synopsys by 0.6% in the first quarter. Securian Asset Management Inc now owns 15,405 shares of the semiconductor company’s stock valued at $1,774,000 after purchasing an additional 97 shares during the period. State of Alaska Department of Revenue grew its holdings in Synopsys by 0.3% in the first quarter. State of Alaska Department of Revenue now owns 37,607 shares of the semiconductor company’s stock valued at $4,327,000 after purchasing an additional 100 shares during the period. Louisiana State Employees Retirement System grew its holdings in Synopsys by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 7,900 shares of the semiconductor company’s stock valued at $910,000 after purchasing an additional 100 shares during the period. Flagship Harbor Advisors LLC grew its holdings in Synopsys by 78.7% in the first quarter. Flagship Harbor Advisors LLC now owns 227 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 100 shares during the period. Finally, HL Financial Services LLC grew its holdings in Synopsys by 1.3% in the fourth quarter. HL Financial Services LLC now owns 7,905 shares of the semiconductor company’s stock valued at $666,000 after purchasing an additional 102 shares during the period. Institutional investors and hedge funds own 91.17% of the company’s stock.

In other Synopsys news, VP Sudhindra Kankanwadi sold 2,085 shares of Synopsys stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $102.71, for a total transaction of $214,150.35. Following the transaction, the vice president now directly owns 10,387 shares of the company’s stock, valued at $1,066,848.77. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel John F. Runkel, Jr. sold 10,000 shares of the business’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $101.71, for a total transaction of $1,017,100.00. Following the transaction, the general counsel now directly owns 21,071 shares in the company, valued at $2,143,131.41. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 142,190 shares of company stock worth $14,729,218. 1.84% of the stock is currently owned by corporate insiders.

Shares of SNPS stock opened at $117.74 on Thursday. The company has a market cap of $17.35 billion, a price-to-earnings ratio of 41.75, a price-to-earnings-growth ratio of 3.70 and a beta of 1.30. 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, Inc. has a fifty-two week low of $79.14 and a fifty-two week high of $122.36.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, February 20th. The semiconductor company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.51. The firm had revenue of $820.40 million for the quarter, compared to analysts’ expectations of $796.30 million. Synopsys had a net margin of 18.59% and a return on equity of 17.23%. Synopsys’s revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.10 earnings per share. As a group, equities research analysts anticipate that Synopsys, Inc. will post 3.13 earnings per share for the current fiscal year.

SNPS has been the subject of a number of recent analyst reports. DA Davidson boosted their target price on shares of Synopsys to $135.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Needham & Company LLC restated a “buy” rating and issued a $120.00 target price on shares of Synopsys in a report on Wednesday, April 3rd. BidaskClub upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a report on Saturday, February 9th. Wells Fargo & Co initiated coverage on shares of Synopsys in a report on Tuesday. They issued an “outperform” rating and a $135.00 target price for the company. Finally, KeyCorp initiated coverage on shares of Synopsys in a report on Wednesday, April 10th. They issued an “overweight” rating and a $135.00 target price for the company. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $121.10.

WARNING: “Cedar Capital LLC Purchases 371 Shares of Synopsys, Inc. (SNPS)” was originally posted by Transcript Daily and is owned by of Transcript Daily. If you are accessing this piece on another publication, it was stolen and republished in violation of United States & international trademark and copyright laws. The correct version of this piece can be read at https://transcriptdaily.com/2019/05/16/cedar-capital-llc-purchases-371-shares-of-synopsys-inc-snps.html.

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.

Featured Article: Channel Trading

Want to see what other hedge funds are holding SNPS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synopsys, Inc. (NASDAQ:SNPS).

Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

Receive News & Ratings for Synopsys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synopsys and related companies with MarketBeat.com's FREE daily email newsletter.