Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Synopsys Inc. (NASDAQ:SNPS) by 1.1% during the third quarter, Holdings Channel reports. The fund owned 21,585 shares of the company’s stock after buying an additional 229 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Synopsys were worth $1,281,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Numeric Investors LLC raised its stake in Synopsys by 316.3% in the second quarter. Numeric Investors LLC now owns 1,009,981 shares of the company’s stock worth $54,620,000 after buying an additional 767,356 shares in the last quarter. Hennessy Advisors Inc. acquired a new stake in Synopsys during the third quarter worth approximately $43,670,000. BlackRock Fund Advisors raised its stake in Synopsys by 8.5% in the second quarter. BlackRock Fund Advisors now owns 8,114,931 shares of the company’s stock worth $438,855,000 after buying an additional 638,798 shares in the last quarter. Columbia Wanger Asset Management LLC acquired a new stake in Synopsys during the second quarter worth approximately $33,099,000. Finally, Pictet Asset Management Ltd. raised its stake in Synopsys by 188.8% in the second quarter. Pictet Asset Management Ltd. now owns 850,862 shares of the company’s stock worth $43,964,000 after buying an additional 556,265 shares in the last quarter. 90.36% of the stock is currently owned by hedge funds and other institutional investors.
Synopsys Inc. (NASDAQ:SNPS) traded up 0.25% on Thursday, reaching $60.91. The company’s stock had a trading volume of 602,804 shares. The firm’s 50-day moving average price is $59.67 and its 200 day moving average price is $58.35. The company has a market cap of $9.14 billion, a P/E ratio of 35.21 and a beta of 0.88. Synopsys Inc. has a 52-week low of $39.26 and a 52-week high of $62.00.
Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, November 30th. The company reported $0.77 EPS for the quarter, meeting the consensus estimate of $0.77. Synopsys had a return on equity of 11.51% and a net margin of 11.01%. The company had revenue of $633.70 million for the quarter, compared to analyst estimates of $628.39 million. During the same quarter in the prior year, the company earned $0.67 EPS. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities analysts anticipate that Synopsys Inc. will post $3.20 EPS for the current fiscal year.
A number of equities research analysts have recently commented on the company. Zacks Investment Research lowered Synopsys from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 5th. Benchmark Co. set a $60.00 target price on Synopsys and gave the company a “hold” rating in a research report on Thursday, December 1st. Needham & Company LLC lifted their target price on Synopsys from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, December 1st. RBC Capital Markets reissued an “outperform” rating and issued a $66.00 target price on shares of Synopsys in a research report on Tuesday, November 1st. Finally, Credit Suisse Group AG started coverage on Synopsys in a research report on Wednesday, October 19th. They issued an “outperform” rating and a $68.00 target price on the stock. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $66.33.
Synopsys Company Profile
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.
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