Bank of New York Mellon Corp Sells 14,866 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Bank of New York Mellon Corp trimmed its position in Synopsys, Inc. (NASDAQ:SNPS) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,028,411 shares of the semiconductor company’s stock after selling 14,866 shares during the period. Bank of New York Mellon Corp owned about 0.69% of Synopsys worth $88,001,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in Synopsys by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 893,070 shares of the semiconductor company’s stock valued at $74,339,000 after buying an additional 20,989 shares during the last quarter. Brown Advisory Inc. acquired a new stake in shares of Synopsys in the first quarter valued at approximately $322,000. DnB Asset Management AS increased its stake in shares of Synopsys by 4.0% during the second quarter. DnB Asset Management AS now owns 20,969 shares of the semiconductor company’s stock valued at $1,794,000 after acquiring an additional 800 shares during the period. IFM Investors Pty Ltd increased its stake in shares of Synopsys by 44.3% during the second quarter. IFM Investors Pty Ltd now owns 7,822 shares of the semiconductor company’s stock valued at $669,000 after acquiring an additional 2,400 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in shares of Synopsys by 15.0% during the second quarter. State of Alaska Department of Revenue now owns 37,715 shares of the semiconductor company’s stock valued at $3,225,000 after acquiring an additional 4,930 shares during the period. 89.63% of the stock is currently owned by institutional investors and hedge funds.

Shares of SNPS traded up $0.96 on Monday, reaching $92.90. 1,613,200 shares of the company’s stock were exchanged, compared to its average volume of 1,095,349. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market cap of $13.66 billion, a price-to-earnings ratio of 105.57, a price-to-earnings-growth ratio of 3.61 and a beta of 1.29. Synopsys, Inc. has a 12 month low of $80.13 and a 12 month high of $103.40.

SNPS has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Synopsys to $98.00 and gave the stock an “underweight” rating in a research note on Thursday, August 23rd. DA Davidson boosted their price objective on shares of Synopsys to $110.00 and gave the stock a “buy” rating in a report on Thursday, August 23rd. Needham & Company LLC reiterated a “buy” rating and set a $105.00 target price (up from $100.00) on shares of Synopsys in a research report on Thursday, August 23rd. BidaskClub lowered shares of Synopsys from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 7th. Finally, KeyCorp boosted their price target on shares of Synopsys from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, August 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. Synopsys currently has an average rating of “Buy” and a consensus price target of $106.86.

COPYRIGHT VIOLATION NOTICE: This piece of content was first reported by Baseball Daily News and is owned by of Baseball Daily News. If you are reading this piece of content on another publication, it was stolen and reposted in violation of US and international trademark and copyright legislation. The correct version of this piece of content can be viewed at https://www.baseballdailydigest.com/news/2018/12/03/bank-of-new-york-mellon-corp-has-88-million-holdings-in-synopsys-inc-snps.html.

Synopsys Profile

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.

Featured Story: Candlestick

Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

Receive News & Ratings for Synopsys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synopsys and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply