Synopsys, Inc. (NASDAQ:SNPS) Position Increased by Kentucky Retirement Systems

Kentucky Retirement Systems raised its stake in Synopsys, Inc. (NASDAQ:SNPSGet Rating) by 4.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,181 shares of the semiconductor company’s stock after buying an additional 355 shares during the period. Kentucky Retirement Systems’ holdings in Synopsys were worth $3,383,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the company. Nordea Investment Management AB boosted its holdings in shares of Synopsys by 112.9% in the third quarter. Nordea Investment Management AB now owns 2,695,694 shares of the semiconductor company’s stock worth $822,376,000 after buying an additional 1,429,567 shares during the period. Van ECK Associates Corp acquired a new position in Synopsys in the 3rd quarter worth approximately $156,603,000. Allspring Global Investments Holdings LLC purchased a new position in Synopsys during the 4th quarter worth approximately $73,004,000. Goldman Sachs Group Inc. raised its stake in Synopsys by 71.8% during the 3rd quarter. Goldman Sachs Group Inc. now owns 387,541 shares of the semiconductor company’s stock valued at $116,034,000 after purchasing an additional 161,928 shares during the period. Finally, Two Sigma Advisers LP lifted its holdings in shares of Synopsys by 409.3% in the third quarter. Two Sigma Advisers LP now owns 192,500 shares of the semiconductor company’s stock valued at $57,636,000 after purchasing an additional 154,700 shares in the last quarter. Institutional investors own 84.39% of the company’s stock.

Several brokerages recently issued reports on SNPS. Bank of America increased their price objective on Synopsys from $330.00 to $355.00 and gave the stock an “underperform” rating in a research note on Monday, January 10th. KeyCorp increased their price target on shares of Synopsys from $395.00 to $445.00 and gave the stock an “overweight” rating in a research report on Monday, January 10th. Finally, StockNews.com raised shares of Synopsys from a “buy” rating to a “strong-buy” rating in a research report on Friday. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Synopsys has an average rating of “Buy” and a consensus target price of $385.78.

SNPS traded up $2.35 during midday trading on Monday, hitting $297.12. 757,595 shares of the company’s stock traded hands, compared to its average volume of 996,731. The company has a market cap of $45.49 billion, a PE ratio of 50.98, a price-to-earnings-growth ratio of 3.23 and a beta of 1.17. The stock’s fifty day simple moving average is $309.86 and its 200-day simple moving average is $324.46. Synopsys, Inc. has a one year low of $225.02 and a one year high of $377.60.

Synopsys (NASDAQ:SNPSGet Rating) last released its quarterly earnings results on Wednesday, February 16th. The semiconductor company reported $1.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. Synopsys had a net margin of 20.18% and a return on equity of 16.74%. The firm’s revenue for the quarter was up 30.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.03 EPS. On average, equities analysts forecast that Synopsys, Inc. will post 5.63 earnings per share for the current fiscal year.

In related news, CEO Chi-Foon Chan sold 12,570 shares of the firm’s stock in a transaction on Friday, February 18th. The shares were sold at an average price of $289.25, for a total value of $3,635,872.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Joseph W. Logan sold 86,973 shares of Synopsys stock in a transaction on Friday, February 18th. The stock was sold at an average price of $289.40, for a total transaction of $25,169,986.20. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

Synopsys Company Profile (Get Rating)

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. The company offers Fusion Design Platform that provides digital design implementation solutions; 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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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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