Municipal Employees Retirement System of Michigan Has $1.67 Million Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Municipal Employees Retirement System of Michigan raised its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 545.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,970 shares of the semiconductor company’s stock after buying an additional 10,960 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Synopsys were worth $1,669,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SNPS. Flagship Harbor Advisors LLC increased its position in shares of Synopsys by 78.7% during the first quarter. Flagship Harbor Advisors LLC now owns 227 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 100 shares during the period. Tompkins Financial Corp grew its position in Synopsys by 63.7% in the first quarter. Tompkins Financial Corp now owns 280 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 109 shares during the period. Hanseatic Management Services Inc. bought a new stake in Synopsys in the first quarter valued at $30,000. Arcadia Investment Management Corp MI bought a new stake in Synopsys in the second quarter valued at $42,000. Finally, FinTrust Capital Advisors LLC grew its position in Synopsys by 16,900.0% in the first quarter. FinTrust Capital Advisors LLC now owns 850 shares of the semiconductor company’s stock valued at $98,000 after acquiring an additional 845 shares during the period. Institutional investors own 91.79% of the company’s stock.

Shares of SNPS stock traded up $3.58 during trading hours on Tuesday, hitting $131.74. 14,223 shares of the company’s stock were exchanged, compared to its average volume of 792,895. The company has a 50-day moving average price of $133.06. The company has a current ratio of 0.95, a quick ratio of 0.85 and a debt-to-equity ratio of 0.03. The firm has a market cap of $19.64 billion, a PE ratio of 46.59, a price-to-earnings-growth ratio of 3.93 and a beta of 1.27. Synopsys, Inc. has a 52 week low of $79.14 and a 52 week high of $138.72.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, May 22nd. The semiconductor company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.73 by $0.04. The company had revenue of $836.20 million for the quarter, compared to analysts’ expectations of $829.41 million. Synopsys had a return on equity of 16.88% and a net margin of 18.74%. During the same quarter in the prior year, the business earned $1.08 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, research analysts expect that Synopsys, Inc. will post 3.03 earnings per share for the current year.

In other news, CEO Chi-Foon Chan sold 5,105 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $117.15, for a total transaction of $598,050.75. Following the transaction, the chief executive officer now owns 204,117 shares of the company’s stock, valued at $23,912,306.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Geus Aart De sold 156,100 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $117.15, for a total value of $18,287,115.00. Following the transaction, the chairman now directly owns 189,894 shares in the company, valued at approximately $22,246,082.10. The disclosure for this sale can be found here. Insiders have sold 207,180 shares of company stock worth $24,653,559 in the last ninety days. 1.84% of the stock is currently owned by insiders.

Several analysts have recently commented on SNPS shares. Zacks Investment Research cut Synopsys from a “hold” rating to a “sell” rating and set a $143.00 target price on the stock. in a report on Wednesday, July 24th. BidaskClub cut Synopsys from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 31st. Wells Fargo & Co started coverage on Synopsys in a report on Tuesday, May 14th. They set an “outperform” rating and a $135.00 target price on the stock. KeyCorp increased their target price on Synopsys from $135.00 to $152.00 and gave the stock an “overweight” rating in a report on Friday, July 12th. Finally, Bank of America restated an “average” rating on shares of Synopsys in a report on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $128.00.

Synopsys Profile

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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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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