Synopsys, Inc. (SNPS) Position Cut by Cipher Capital LP

Synopsys, Inc. (SNPS) Position Cut by Cipher Capital LP

Several other institutional investors also recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. boosted its position in Synopsys by 52.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 809,777 shares of the semiconductor company’s stock valued at $48,060,000 after buying an additional 277,402 shares in the last quarter. Engineers Gate Manager LP boosted its position in Synopsys by 246.6% in the third quarter. Engineers Gate Manager LP now owns 72,622 shares of the semiconductor company’s stock valued at $4,310,000 after buying an additional 51,667 shares in the last quarter. Oak Associates Ltd. OH boosted its position in Synopsys by 24.3% in the third quarter. Oak Associates Ltd. OH now owns 108,300 shares of the semiconductor company’s stock valued at $6,423,000 after buying an additional 21,200 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Synopsys by 0.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 17,410 shares of the semiconductor company’s stock valued at $1,033,000 after buying an additional 100 shares in the last quarter. Finally, Dynamic Capital Management Ltd bought a new position in Synopsys during the third quarter valued at approximately $4,034,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

Cipher Capital LP decreased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 35.4% during the first quarter, Holdings Channel reports. The institutional investor owned 136,753 shares of the semiconductor company’s stock after selling 74,847 shares during the period. Synopsys makes up about 0.7% of Cipher Capital LP’s holdings, making the stock its 5th largest position. Cipher Capital LP’s holdings in Synopsys were worth $9,864,000 at the end of the most recent reporting period.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, May 17th. The semiconductor company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.02. Synopsys had a net margin of 11.01% and a return on equity of 11.51%. The company had revenue of $680.07 million during the quarter, compared to the consensus estimate of $672.40 million. During the same quarter last year, the firm posted $0.81 EPS. The company’s quarterly revenue was up 12.4% on a year-over-year basis.

SNPS has been the topic of several research analyst reports. Needham & Company LLC boosted their price target on shares of Synopsys from $66.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, February 16th. Royal Bank of Canada boosted their price target on shares of Synopsys from $66.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, February 16th. Zacks Investment Research cut shares of Synopsys from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. Pacific Crest restated an “overweight” rating and set a $86.00 price target (up from $78.00) on shares of Synopsys in a report on Friday, May 19th. Finally, DA Davidson restated a “buy” rating and set a $85.00 price target (up from $77.00) on shares of Synopsys in a report on Friday, May 19th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $75.78.

In other news, CEO Chi-Foon Chan sold 3,750 shares of Synopsys stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $70.96, for a total value of $266,100.00. Following the completion of the transaction, the chief executive officer now owns 204,179 shares of the company’s stock, valued at approximately $14,488,541.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Geus Aart De sold 264,000 shares of Synopsys stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $71.01, for a total transaction of $18,746,640.00. Following the completion of the transaction, the chairman now directly owns 220,133 shares of the company’s stock, valued at approximately $15,631,644.33. The disclosure for this sale can be found here. In the last three months, insiders sold 304,246 shares of company stock valued at $21,608,505. Insiders own 1.62% of the company’s stock.

About Synopsys

Synopsys, Inc provides software, intellectual property (IP) and services. The Company supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits, also known as chips. It also offers IP products, which are pre-designed circuits that engineers use as components of larger chip designs rather than designing those circuits themselves.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:SNPS”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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