Chesapeake Wealth Management Sells 455 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Chesapeake Wealth Management reduced its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 9.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,175 shares of the semiconductor company’s stock after selling 455 shares during the quarter. Chesapeake Wealth Management’s holdings in Synopsys were worth $481,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Lunia Capital LP acquired a new position in Synopsys during the fourth quarter worth $18,330,000. Vanguard Group Inc raised its holdings in Synopsys by 1.3% during the third quarter. Vanguard Group Inc now owns 15,851,502 shares of the semiconductor company’s stock worth $1,563,115,000 after purchasing an additional 204,619 shares during the last quarter. Parnassus Investments CA raised its holdings in Synopsys by 15.9% during the fourth quarter. Parnassus Investments CA now owns 6,795,161 shares of the semiconductor company’s stock worth $572,424,000 after purchasing an additional 931,666 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Synopsys by 3.0% during the third quarter. JPMorgan Chase & Co. now owns 3,125,440 shares of the semiconductor company’s stock worth $308,202,000 after purchasing an additional 90,267 shares during the last quarter. Finally, Swedbank raised its holdings in Synopsys by 4.4% during the fourth quarter. Swedbank now owns 2,978,809 shares of the semiconductor company’s stock worth $249,148,000 after purchasing an additional 125,613 shares during the last quarter. 90.09% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $120.00 price objective on shares of Synopsys in a report on Wednesday, April 3rd. DA Davidson lifted their price objective on Synopsys to $135.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. BidaskClub raised Synopsys from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 13th. Royal Bank of Canada lifted their price objective on Synopsys from $130.00 to $140.00 and gave the stock a “top pick” rating in a report on Thursday, April 11th. Finally, KeyCorp started coverage on Synopsys in a report on Wednesday, April 10th. They set an “overweight” rating and a $135.00 price objective for the company. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $119.56.

Synopsys stock opened at $118.90 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.03. The firm has a market cap of $17.83 billion, a price-to-earnings ratio of 42.16, a P/E/G ratio of 3.89 and a beta of 1.30. Synopsys, Inc. has a fifty-two week low of $79.14 and a fifty-two week high of $122.36.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, February 20th. The semiconductor company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.51. The company had revenue of $820.40 million during the quarter, compared to the consensus estimate of $796.30 million. Synopsys had a return on equity of 17.23% and a net margin of 18.59%. Synopsys’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.10 earnings per share. On average, research analysts anticipate that Synopsys, Inc. will post 3.13 EPS for the current year.

In other news, CEO Chi-Foon Chan sold 85,105 shares of Synopsys stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $102.20, for a total value of $8,697,731.00. Following the completion of the sale, the chief executive officer now owns 294,218 shares of the company’s stock, valued at $30,069,079.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John Schwarz sold 10,000 shares of Synopsys stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $117.61, for a total value of $1,176,100.00. Following the completion of the sale, the director now directly owns 16,491 shares of the company’s stock, valued at approximately $1,939,506.51. The disclosure for this sale can be found here. Insiders have sold 142,190 shares of company stock valued at $14,729,218 in the last three months. 1.84% of the stock is currently owned by company insiders.

WARNING: “Chesapeake Wealth Management Sells 455 Shares of Synopsys, Inc. (NASDAQ:SNPS)” was originally reported by Baseball Daily News and is owned by of Baseball Daily News. If you are viewing this piece on another site, it was copied illegally and republished in violation of US & international copyright & trademark law. The correct version of this piece can be accessed at https://www.baseballdailydigest.com/news/2019/05/10/synopsys-inc-snps-shares-sold-by-chesapeake-wealth-management.html.

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.

Featured Article: Growth Stocks, What They Are, What They Are Not

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.