5,735 Shares in Synopsys, Inc. (SNPS) Acquired by Wedbush Securities Inc.

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.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, February 20th. The semiconductor company reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.51. Synopsys had a net margin of 18.59% and a return on equity of 17.23%. The company had revenue of $820.40 million for the quarter, compared to the consensus estimate of $796.30 million. During the same period in the prior year, the firm posted $1.10 EPS. Synopsys’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, analysts forecast that Synopsys, Inc. will post 3.13 EPS for the current year.

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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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.

Further Reading: How is diluted EPS different from basic EPS?

Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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