Wedbush Securities Inc. purchased a new position in Synopsys, Inc. (NASDAQ:SNPS) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 5,735 shares of the semiconductor company’s stock, valued at approximately $660,000.
Several other institutional investors have also modified their holdings of SNPS. JPMorgan Chase & Co. increased its stake in shares of Synopsys by 3.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,125,440 shares of the semiconductor company’s stock worth $308,202,000 after acquiring an additional 90,267 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Synopsys by 0.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,035,058 shares of the semiconductor company’s stock worth $102,066,000 after acquiring an additional 6,647 shares in the last quarter. FMR LLC increased its stake in shares of Synopsys by 117.6% in the 3rd quarter. FMR LLC now owns 57,339 shares of the semiconductor company’s stock worth $5,655,000 after acquiring an additional 30,983 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Synopsys by 3.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 563,565 shares of the semiconductor company’s stock worth $55,573,000 after acquiring an additional 20,772 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in shares of Synopsys by 96.6% in the 3rd quarter. Jane Street Group LLC now owns 9,942 shares of the semiconductor company’s stock worth $980,000 after acquiring an additional 4,884 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.
Shares of SNPS stock opened at $115.98 on Friday. Synopsys, Inc. has a one year low of $79.14 and a one year high of $119.23. The stock has a market cap of $17.36 billion, a P/E ratio of 41.13, a PEG ratio of 3.71 and a beta of 1.30. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.03.
Several brokerages recently issued reports on SNPS. Zacks Investment Research upgraded shares of Synopsys from a “hold” rating to a “strong-buy” rating and set a $117.00 price target for the company in a research note on Monday, February 25th. KeyCorp began coverage on shares of Synopsys in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $135.00 price target for the company. Royal Bank of Canada increased their price target on shares of Synopsys from $130.00 to $140.00 and gave the stock a “top pick” rating in a research note on Thursday, April 11th. Needham & Company LLC reiterated a “buy” rating and issued a $120.00 price target (up from $115.00) on shares of Synopsys in a research note on Thursday, March 28th. Finally, BidaskClub raised shares of Synopsys from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 13th. One research analyst has rated the stock with a hold rating, six have given a buy rating and three have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $119.56.
In related news, VP Sudhindra Kankanwadi sold 2,085 shares of the stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $102.71, for a total transaction of $214,150.35. Following the sale, the vice president now directly owns 10,387 shares of the company’s stock, valued at approximately $1,066,848.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel John F. Runkel, Jr. sold 10,000 shares of the stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $101.71, for a total transaction of $1,017,100.00. Following the sale, the general counsel now directly owns 21,071 shares in the company, valued at $2,143,131.41. The disclosure for this sale can be found here. Insiders have sold a total of 142,190 shares of company stock worth $14,729,218 over the last three months. 1.84% of the stock is currently owned by insiders.
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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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