Synopsys, Inc. (NASDAQ:SNPS) Stake Increased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.1% in the first quarter, Holdings Channel reports. The institutional investor owned 153,888 shares of the semiconductor company’s stock after acquiring an additional 1,713 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Synopsys were worth $17,721,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Flagship Harbor Advisors LLC increased its holdings in Synopsys by 78.7% in the 1st 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 last quarter. Hanseatic Management Services Inc. acquired a new stake in Synopsys in the 1st quarter valued at approximately $30,000. Tompkins Financial Corp increased its holdings in Synopsys by 63.7% in the 1st quarter. Tompkins Financial Corp now owns 280 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 109 shares during the last quarter. Executive Wealth Management LLC acquired a new stake in Synopsys in the 4th quarter valued at approximately $29,000. Finally, Riverview Trust Co acquired a new stake in Synopsys in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 91.89% of the company’s stock.

Several analysts recently weighed in on SNPS shares. Bank of America reiterated an “average” rating on shares of Synopsys in a report on Wednesday, June 5th. DA Davidson lifted 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 reiterated a “buy” rating and issued a $120.00 target price on shares of Synopsys in a report on Wednesday, April 3rd. BidaskClub downgraded shares of Synopsys from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 22nd. Finally, Zacks Investment Research downgraded shares of Synopsys from a “buy” rating to a “hold” rating and set a $124.00 price target for the company. in a research note on Wednesday, May 29th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $124.00.

In other news, Director John Schwarz sold 10,000 shares of Synopsys stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $117.61, for a total transaction of $1,176,100.00. Following the completion of the sale, the director now directly owns 16,491 shares of the company’s stock, valued at approximately $1,939,506.51. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Sudhindra Kankanwadi sold 2,500 shares of Synopsys stock in a transaction on Monday, June 10th. The stock was sold at an average price of $126.20, for a total transaction of $315,500.00. Following the sale, the vice president now directly owns 10,916 shares of the company’s stock, valued at $1,377,599.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 187,888 shares of company stock valued at $22,055,444. Insiders own 1.84% of the company’s stock.

NASDAQ:SNPS opened at $124.80 on Friday. The firm has a market capitalization of $18.71 billion, a price-to-earnings ratio of 44.26, a price-to-earnings-growth ratio of 3.74 and a beta of 1.26. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.95 and a quick ratio of 0.85. Synopsys, Inc. has a 52 week low of $79.14 and a 52 week high of $127.91.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.04. The business had revenue of $836.20 million during the quarter, compared to the consensus estimate of $829.41 million. Synopsys had a net margin of 18.74% and a return on equity of 16.88%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.08 earnings per share. On average, sell-side analysts anticipate that Synopsys, Inc. will post 3.03 earnings per share for the current fiscal year.

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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.

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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