13,612 Shares in Synopsys, Inc. (SNPS) Purchased by First Hawaiian Bank

First Hawaiian Bank bought a new stake in Synopsys, Inc. (NASDAQ:SNPS) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,612 shares of the semiconductor company’s stock, valued at approximately $1,342,000.

A number of other institutional investors also recently modified their holdings of SNPS. BlackRock Inc. boosted its position in Synopsys by 5.2% in the second quarter. BlackRock Inc. now owns 14,683,291 shares of the semiconductor company’s stock valued at $1,256,450,000 after buying an additional 731,655 shares in the last quarter. Voya Investment Management LLC raised its stake in shares of Synopsys by 142.8% during the second quarter. Voya Investment Management LLC now owns 936,019 shares of the semiconductor company’s stock valued at $80,095,000 after acquiring an additional 550,522 shares during the last quarter. PointState Capital LP bought a new position in shares of Synopsys during the second quarter valued at $35,129,000. Assenagon Asset Management S.A. bought a new position in shares of Synopsys during the second quarter valued at $32,966,000. Finally, State of New Jersey Common Pension Fund D raised its stake in shares of Synopsys by 318.4% during the second quarter. State of New Jersey Common Pension Fund D now owns 446,800 shares of the semiconductor company’s stock valued at $38,233,000 after acquiring an additional 340,000 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

In related news, General Counsel John F. Runkel, Jr. sold 10,000 shares of Synopsys stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $102.00, for a total transaction of $1,020,000.00. Following the completion of the transaction, the general counsel now owns 22,322 shares of the company’s stock, valued at $2,276,844. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Joseph W. Logan sold 20,000 shares of Synopsys stock in a transaction 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 of the company’s stock, valued at approximately $8,953,327.53. The disclosure for this sale can be found here. Insiders have sold 33,609 shares of company stock valued at $3,416,177 in the last three months. 1.84% of the stock is owned by insiders.

SNPS has been the subject of several analyst reports. KeyCorp raised their price target on shares of Synopsys from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, August 23rd. BidaskClub downgraded shares of Synopsys from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 19th. DA Davidson raised their price target on shares of Synopsys to $110.00 and gave the company a “buy” rating in a research note on Thursday, August 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $105.00 price target (up previously from $100.00) on shares of Synopsys in a research note on Thursday, August 23rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Synopsys to $98.00 and gave the company an “underweight” rating in a research note on Thursday, August 23rd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $106.14.

SNPS stock opened at $88.10 on Friday. The firm has a market cap of $13.31 billion, a PE ratio of 100.11, a price-to-earnings-growth ratio of 5.69 and a beta of 1.18. Synopsys, Inc. has a 52-week low of $80.13 and a 52-week high of $103.40. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.04.

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

About Synopsys

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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