OMERS ADMINISTRATION Corp Increases Stake in Synopsys, Inc. $SNPS

OMERS ADMINISTRATION Corp grew its position in Synopsys, Inc. (NASDAQ:SNPS) by 17.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 364,322 shares of the semiconductor company’s stock after acquiring an additional 53,706 shares during the quarter. Synopsys comprises about 1.4% of OMERS ADMINISTRATION Corp’s portfolio, making the stock its 21st largest position. OMERS ADMINISTRATION Corp owned 0.24% of Synopsys worth $156,239,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC grew its holdings in shares of Synopsys by 5.7% in the fourth quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company’s stock worth $447,000 after purchasing an additional 50 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new stake in shares of Synopsys in the 4th quarter valued at about $1,518,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Synopsys by 1.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 133,678 shares of the semiconductor company’s stock valued at $64,884,000 after buying an additional 2,117 shares in the last quarter. Lido Advisors LLC boosted its holdings in shares of Synopsys by 26.9% in the 4th quarter. Lido Advisors LLC now owns 4,093 shares of the semiconductor company’s stock valued at $1,986,000 after buying an additional 868 shares in the last quarter. Finally, Rehmann Capital Advisory Group raised its position in shares of Synopsys by 2.7% in the 4th quarter. Rehmann Capital Advisory Group now owns 1,286 shares of the semiconductor company’s stock valued at $624,000 after purchasing an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insiders Place Their Bets

In other Synopsys news, CFO Shelagh Glaser sold 7,310 shares of the firm’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $485.72, for a total value of $3,550,613.20. Following the sale, the chief financial officer directly owned 15,291 shares of the company’s stock, valued at approximately $7,427,144.52. This trade represents a 32.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Richard S. Mahoney sold 9,010 shares of the firm’s stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total value of $4,245,602.10. Following the completion of the transaction, the executive owned 1,485 shares in the company, valued at approximately $699,746.85. This trade represents a 85.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,686 shares of company stock worth $13,001,048. 0.62% of the stock is owned by corporate insiders.

Synopsys Stock Performance

Shares of SNPS opened at $603.17 on Thursday. The stock has a 50 day moving average price of $577.64 and a 200 day moving average price of $502.39. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $93.59 billion, a price-to-earnings ratio of 43.55, a price-to-earnings-growth ratio of 3.92 and a beta of 1.15. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $651.73.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.40 by $0.27. Synopsys had a return on equity of 17.09% and a net margin of 34.77%.The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the prior year, the company posted $3.00 earnings per share. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. Research analysts predict that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Analyst Ratings Changes

SNPS has been the subject of several research analyst reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $715.00 price objective (up from $540.00) on shares of Synopsys in a research report on Monday, August 11th. Rosenblatt Securities lifted their target price on shares of Synopsys from $625.00 to $650.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Bank of America lifted their target price on shares of Synopsys from $575.00 to $625.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Wells Fargo & Company reiterated a “positive” rating on shares of Synopsys in a report on Wednesday. Finally, The Goldman Sachs Group started coverage on shares of Synopsys in a report on Thursday, July 10th. They issued a “buy” rating and a $620.00 price objective on the stock. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Synopsys has a consensus rating of “Moderate Buy” and a consensus price target of $634.64.

Synopsys Company Profile

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers 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.