Amundi Asset Management US Inc. grew its stake in Synopsys, Inc. (NASDAQ:SNPS) by 2.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 469,028 shares of the semiconductor company’s stock after purchasing an additional 11,728 shares during the quarter. Amundi Asset Management US Inc. owned about 0.31% of Synopsys worth $116,216,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of SNPS. FMR LLC raised its holdings in Synopsys by 1.1% in the 1st quarter. FMR LLC now owns 257,171 shares of the semiconductor company’s stock worth $29,613,000 after purchasing an additional 2,914 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Synopsys by 14.6% in the 4th quarter. Los Angeles Capital Management LLC now owns 11,742 shares of the semiconductor company’s stock worth $3,044,000 after acquiring an additional 1,500 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Synopsys by 375.3% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,692 shares of the semiconductor company’s stock worth $439,000 after acquiring an additional 1,336 shares in the last quarter. LPL Financial LLC increased its stake in shares of Synopsys by 14.6% in the 4th quarter. LPL Financial LLC now owns 24,078 shares of the semiconductor company’s stock worth $6,242,000 after acquiring an additional 3,073 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of Synopsys by 16.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 2,936 shares of the semiconductor company’s stock worth $761,000 after acquiring an additional 407 shares in the last quarter. Institutional investors and hedge funds own 84.71% of the company’s stock.
In other news, CEO Chi-Foon Chan sold 7,040 shares of the stock in a transaction that occurred on Friday, May 21st. The shares were sold at an average price of $242.96, for a total value of $1,710,438.40. Also, Director Chrysostomos L. Nikias sold 1,000 shares of the stock in a transaction that occurred on Tuesday, May 25th. The stock was sold at an average price of $250.05, for a total transaction of $250,050.00. Following the completion of the transaction, the director now owns 23,232 shares in the company, valued at approximately $5,809,161.60. The disclosure for this sale can be found here. Insiders sold a total of 43,273 shares of company stock worth $11,165,844 in the last quarter. Company insiders own 1.56% of the company’s stock.
Shares of NASDAQ SNPS opened at $278.22 on Thursday. The company’s 50-day moving average is $263.17. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.09 and a current ratio of 1.19. The stock has a market cap of $42.45 billion, a P/E ratio of 54.02, a PEG ratio of 4.10 and a beta of 1.04. Synopsys, Inc. has a 52-week low of $190.50 and a 52-week high of $300.91.
Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Tuesday, May 18th. The semiconductor company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.17. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $988.20 million. Synopsys had a net margin of 20.27% and a return on equity of 16.58%. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.22 EPS. As a group, equities research analysts forecast that Synopsys, Inc. will post 4.63 EPS for the current fiscal year.
Synopsys declared that its Board of Directors has authorized a stock buyback program on Thursday, June 17th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 1.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It offers Fusion Design Platform, a digital design implementation solution; Verification Continuum Platform that 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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