Arizona State Retirement System increased its position in Synopsys, Inc. (NASDAQ:SNPS) by 0.2% during the third quarter, Holdings Channel reports. The fund owned 147,491 shares of the company’s stock after buying an additional 300 shares during the period. Arizona State Retirement System owned 0.10% of Synopsys worth $8,754,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. BlackRock Fund Advisors increased its position in shares of 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 during the last quarter. BlackRock Investment Management LLC increased its stake in Synopsys by 1.5% in the second quarter. BlackRock Investment Management LLC now owns 488,647 shares of the company’s stock worth $26,426,000 after buying an additional 7,367 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Synopsys by 7.1% in the second quarter. Dimensional Fund Advisors LP now owns 524,888 shares of the company’s stock worth $28,381,000 after buying an additional 34,696 shares in the last quarter. Eaton Vance Management acquired a new stake in Synopsys during the second quarter worth approximately $306,000. Finally, Congress Asset Management Co. MA increased its stake in Synopsys by 7.2% in the second quarter. Congress Asset Management Co. MA now owns 791,816 shares of the company’s stock worth $42,821,000 after buying an additional 52,964 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.
Synopsys, Inc. (NASDAQ:SNPS) opened at 62.50 on Friday. The company’s 50-day moving average price is $60.41 and its 200 day moving average price is $58.67. Synopsys, Inc. has a 1-year low of $40.36 and a 1-year high of $62.95. The firm has a market capitalization of $9.38 billion, a PE ratio of 36.13 and a beta of 0.88.
Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, November 30th. The company reported $0.77 earnings per share for the quarter, hitting analysts’ consensus estimates 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 posted $0.67 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, equities analysts anticipate that Synopsys, Inc. will post $3.20 EPS for the current year.
SNPS has been the topic of a number of research analyst reports. DA Davidson restated a “buy” rating and issued a $75.00 target price (up previously from $64.00) on shares of Synopsys in a research report on Wednesday, October 12th. Credit Suisse Group initiated 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. 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. Zacks Investment Research downgraded Synopsys from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 5th. Finally, RBC Capital Markets restated an “outperform” rating and issued a $66.00 target price on shares of Synopsys in a research report on Tuesday, November 1st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Synopsys has a consensus rating of “Buy” and an average price target of $66.33.
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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