Epoch Investment Partners Inc. Takes Position in Synopsys, Inc. (NASDAQ:SNPS)

Epoch Investment Partners Inc. purchased a new stake in Synopsys, Inc. (NASDAQ:SNPS) in the second quarter, Holdings Channel.com reports. The fund purchased 415,521 shares of the semiconductor company’s stock, valued at approximately $114,597,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Valley National Advisers Inc. grew its stake in Synopsys by 326.9% in the 2nd quarter. Valley National Advisers Inc. now owns 111 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 85 shares during the last quarter. Deseret Mutual Benefit Administrators acquired a new stake in shares of Synopsys in the second quarter worth approximately $43,000. Logan Capital Management Inc. acquired a new stake in shares of Synopsys in the first quarter worth approximately $49,000. Newfound Research LLC boosted its position in shares of Synopsys by 77.0% in the second quarter. Newfound Research LLC now owns 269 shares of the semiconductor company’s stock worth $74,000 after acquiring an additional 117 shares during the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of Synopsys in the second quarter worth approximately $77,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

In other Synopsys news, insider John F. Runkel, Jr. sold 4,238 shares of Synopsys stock in a transaction on Wednesday, September 15th. The shares were sold at an average price of $333.00, for a total value of $1,411,254.00. Following the completion of the transaction, the insider now owns 21,198 shares of the company’s stock, valued at $7,058,934. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Roy Vallee sold 10,000 shares of Synopsys stock in a transaction on Monday, August 30th. The stock was sold at an average price of $334.00, for a total transaction of $3,340,000.00. Following the completion of the transaction, the director now directly owns 10,239 shares of the company’s stock, valued at approximately $3,419,826. The disclosure for this sale can be found here. In the last ninety days, insiders sold 333,637 shares of company stock valued at $105,479,027. 1.56% of the stock is currently owned by corporate insiders.

Several equities research analysts recently issued reports on the stock. KeyCorp raised their target price on shares of Synopsys from $320.00 to $347.00 and gave the stock an “overweight” rating in a research report on Thursday, August 19th. HSBC reissued an “average” rating on shares of Synopsys in a research report on Thursday, August 26th. Rosenblatt Securities began coverage on shares of Synopsys in a report on Friday, September 17th. They issued a “buy” rating and a $349.00 price target on the stock. Westpark Capital assumed coverage on shares of Synopsys in a report on Thursday, July 15th. They issued a “buy” rating and a $340.00 price target on the stock. Finally, Robert W. Baird lifted their price objective on shares of Synopsys from $320.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, August 19th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $322.50.

Shares of NASDAQ:SNPS traded up $7.02 during midday trading on Thursday, reaching $303.32. The company had a trading volume of 7,363 shares, compared to its average volume of 826,707. The stock’s fifty day moving average price is $313.17 and its 200-day moving average price is $279.13. The stock has a market capitalization of $46.26 billion, a P/E ratio of 61.73, a PEG ratio of 4.47 and a beta of 1.08. Synopsys, Inc. has a one year low of $211.20 and a one year high of $340.66.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Tuesday, August 17th. The semiconductor company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.03. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Synopsys had a net margin of 18.48% and a return on equity of 15.03%. The business’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.74 earnings per share. As a group, equities analysts anticipate that Synopsys, Inc. will post 4.66 earnings per share for the current year.

Synopsys declared that its Board of Directors has initiated a stock repurchase plan on Thursday, June 17th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the semiconductor company to buy up to 1.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Synopsys Profile

Synopsys, Inc engages in the provision of software products and consulting services in the electronic design automation industry. The firm operates through the following segments: Semiconductor and System Design, and Software Integrity. It provides intellectual property products, which are pre-designed circuits that engineers use as components of larger chip designs, as well as software and hardware that are used to develop the electronic systems that incorporate chips and the software that runs on the circuits.

Further Reading: What is Liquidity?

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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