Baird Financial Group Inc. trimmed its stake in Synopsys, Inc. (NASDAQ:SNPS) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 511,079 shares of the semiconductor company’s stock after selling 6,558 shares during the period. Baird Financial Group Inc.’s holdings in Synopsys were worth $43,564,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Cerebellum GP LLC bought a new position in shares of Synopsys in the 4th quarter worth about $124,000. IBM Retirement Fund bought a new position in shares of Synopsys in the 4th quarter worth about $201,000. Conning Inc. bought a new position in shares of Synopsys in the 4th quarter worth about $205,000. Checchi Capital Advisers LLC bought a new position in shares of Synopsys in the 4th quarter worth about $205,000. Finally, Tiemann Investment Advisors LLC bought a new position in shares of Synopsys in the 3rd quarter worth about $214,000. 88.58% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on SNPS. BidaskClub lowered shares of Synopsys from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. DA Davidson reiterated a “buy” rating and issued a $105.00 price target (up from $91.00) on shares of Synopsys in a research note on Tuesday, November 28th. Needham & Company LLC increased their price target on shares of Synopsys from $83.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, November 30th. TheStreet lowered shares of Synopsys from an “a” rating to a “c+” rating in a research note on Wednesday, November 29th. Finally, KeyCorp reiterated an “overweight” rating and issued a $106.00 price target (up from $86.00) on shares of Synopsys in a research note on Thursday, November 30th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. Synopsys presently has a consensus rating of “Hold” and a consensus price target of $96.89.
Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, November 29th. The semiconductor company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.12. The business had revenue of $696.60 million during the quarter, compared to analyst estimates of $650.72 million. Synopsys had a net margin of 5.01% and a return on equity of 5.78%. Synopsys’s revenue was up 9.9% compared to the same quarter last year. During the same period last year, the business earned $0.77 EPS. equities research analysts predict that Synopsys, Inc. will post 2.24 earnings per share for the current year.
In other Synopsys news, Director Chrysostomos L. Nikias sold 21,074 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $89.78, for a total transaction of $1,892,023.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel John F. Runkel, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $88.00, for a total transaction of $880,000.00. Following the sale, the general counsel now owns 18,742 shares of the company’s stock, valued at $1,649,296. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,442 shares of company stock valued at $5,779,693. 1.82% of the stock is owned by company insiders.
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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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