Dupont Capital Management Corp cut its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 23.0% during the second quarter, Holdings Channel reports. The firm owned 35,576 shares of the semiconductor company’s stock after selling 10,613 shares during the period. Dupont Capital Management Corp’s holdings in Synopsys were worth $2,595,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Synopsys by 3,273.6% in the first quarter. BlackRock Inc. now owns 12,796,224 shares of the semiconductor company’s stock worth $922,991,000 after buying an additional 12,416,921 shares during the period. Vanguard Group Inc. boosted its position in Synopsys by 21.6% in the first quarter. Vanguard Group Inc. now owns 15,031,207 shares of the semiconductor company’s stock valued at $1,084,201,000 after buying an additional 2,672,954 shares during the period. Swedbank purchased a new position in Synopsys during the first quarter valued at approximately $136,109,000. State Street Corp boosted its position in Synopsys by 19.9% in the first quarter. State Street Corp now owns 7,240,263 shares of the semiconductor company’s stock valued at $522,251,000 after buying an additional 1,201,269 shares during the period. Finally, Morgan Stanley boosted its position in Synopsys by 155.6% in the first quarter. Morgan Stanley now owns 1,081,104 shares of the semiconductor company’s stock valued at $77,979,000 after buying an additional 658,199 shares during the period. Hedge funds and other institutional investors own 90.98% of the company’s stock.
Shares of Synopsys, Inc. (SNPS) opened at 76.76 on Friday. The stock has a market cap of $11.53 billion, a P/E ratio of 36.04 and a beta of 1.02. The company has a 50-day moving average of $75.62 and a 200 day moving average of $72.77. Synopsys, Inc. has a 52-week low of $56.03 and a 52-week high of $79.66.
Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, August 16th. The semiconductor company reported $0.92 EPS for the quarter, hitting analysts’ consensus estimates of $0.92. The firm had revenue of $695.40 million during the quarter, compared to the consensus estimate of $691.22 million. Synopsys had a net margin of 12.37% and a return on equity of 11.71%. The firm’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.76 earnings per share. Equities research analysts forecast that Synopsys, Inc. will post $3.28 EPS for the current fiscal year.
Synopsys declared that its board has approved a share repurchase program on Friday, June 16th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the semiconductor company to reacquire up to 4.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
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SNPS has been the subject of several analyst reports. Royal Bank Of Canada boosted their price target on shares of Synopsys from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday. BidaskClub upgraded shares of Synopsys from a “buy” rating to a “strong-buy” rating in a report on Thursday. Needham & Company LLC reiterated a “buy” rating and set a $77.00 price target (up previously from $76.00) on shares of Synopsys in a report on Thursday, May 18th. Zacks Investment Research cut shares of Synopsys from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. Finally, Credit Suisse Group reiterated a “positive” rating and set a $90.00 price target (up previously from $82.00) on shares of Synopsys in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $79.44.
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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