Parallel Advisors LLC Acquires 225 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Parallel Advisors LLC increased its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 9.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,726 shares of the semiconductor company’s stock after purchasing an additional 225 shares during the quarter. Parallel Advisors LLC’s holdings in Synopsys were worth $351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. boosted its position in Synopsys by 1.1% during the 1st quarter. BlackRock Inc. now owns 12,336,835 shares of the semiconductor company’s stock valued at $1,420,588,000 after acquiring an additional 134,481 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Synopsys by 40.3% during the 1st quarter. JPMorgan Chase & Co. now owns 5,273,032 shares of the semiconductor company’s stock valued at $607,189,000 after acquiring an additional 1,513,575 shares in the last quarter. Geode Capital Management LLC boosted its position in Synopsys by 5.1% during the 4th quarter. Geode Capital Management LLC now owns 2,244,335 shares of the semiconductor company’s stock valued at $188,775,000 after acquiring an additional 109,140 shares in the last quarter. Egerton Capital UK LLP boosted its position in Synopsys by 142.3% during the 1st quarter. Egerton Capital UK LLP now owns 2,199,485 shares of the semiconductor company’s stock valued at $253,271,000 after acquiring an additional 1,291,643 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Synopsys by 2.4% during the 1st quarter. Northern Trust Corp now owns 1,919,755 shares of the semiconductor company’s stock valued at $221,060,000 after acquiring an additional 45,718 shares in the last quarter. 90.58% of the stock is currently owned by institutional investors.

In related news, Director Steven Walske sold 2,453 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $126.54, for a total value of $310,402.62. Following the completion of the transaction, the director now directly owns 14,038 shares in the company, valued at approximately $1,776,368.52. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Roy Vallee sold 11,243 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $129.21, for a total transaction of $1,452,708.03. Following the completion of the transaction, the director now owns 52,641 shares of the company’s stock, valued at $6,801,743.61. The disclosure for this sale can be found here. Insiders have sold 34,925 shares of company stock valued at $4,471,565 over the last quarter. Company insiders own 1.84% of the company’s stock.

SNPS has been the topic of several research reports. BidaskClub cut Synopsys from a “buy” rating to a “hold” rating in a research report on Wednesday. Zacks Investment Research cut Synopsys from a “hold” rating to a “sell” rating and set a $143.00 price objective on the stock. in a research report on Wednesday, July 24th. KeyCorp lifted their price objective on Synopsys from $152.00 to $153.00 and gave the company an “overweight” rating in a research report on Thursday. Bank of America reaffirmed an “average” rating on shares of Synopsys in a research report on Wednesday, June 5th. Finally, Wells Fargo & Co reiterated an “outperform” rating and set a $160.00 target price (up from $150.00) on shares of Synopsys in a report on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $137.30.

Shares of SNPS stock traded up $0.41 during trading hours on Friday, hitting $139.41. 12,193 shares of the company’s stock traded hands, compared to its average volume of 851,369. The stock’s fifty day simple moving average is $133.39 and its two-hundred day simple moving average is $119.39. Synopsys, Inc. has a 12-month low of $79.14 and a 12-month high of $142.00. The stock has a market cap of $19.48 billion, a price-to-earnings ratio of 49.51, a PEG ratio of 3.90 and a beta of 1.27. The company has a quick ratio of 0.85, a current ratio of 0.95 and a debt-to-equity ratio of 0.03.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.03. Synopsys had a net margin of 18.74% and a return on equity of 16.88%. The firm had revenue of $853.00 million during the quarter, compared to analyst estimates of $831.03 million. During the same period last year, the business earned $0.95 earnings per share. The business’s revenue was up 9.5% on a year-over-year basis. On average, equities analysts forecast that Synopsys, Inc. will post 3.03 earnings per share for the current fiscal year.

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.

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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