Toronto Dominion Bank increased its stake in Synopsys, Inc. (NASDAQ:SNPS) by 13.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 64,717 shares of the semiconductor company’s stock after purchasing an additional 7,725 shares during the quarter. Toronto Dominion Bank’s holdings in Synopsys were worth $5,517,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Synopsys by 8.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 9,298 shares of the semiconductor company’s stock worth $749,000 after purchasing an additional 690 shares during the period. National Pension Service raised its holdings in shares of Synopsys by 0.4% in the 4th quarter. National Pension Service now owns 176,640 shares of the semiconductor company’s stock worth $15,057,000 after purchasing an additional 692 shares during the period. GHP Investment Advisors Inc. raised its holdings in shares of Synopsys by 2.2% in the 3rd quarter. GHP Investment Advisors Inc. now owns 32,385 shares of the semiconductor company’s stock worth $2,608,000 after purchasing an additional 695 shares during the period. Strs Ohio raised its holdings in shares of Synopsys by 3.8% in the 3rd quarter. Strs Ohio now owns 20,004 shares of the semiconductor company’s stock worth $1,610,000 after purchasing an additional 729 shares during the period. Finally, Sumitomo Life Insurance Co. raised its holdings in shares of Synopsys by 2.5% in the 4th quarter. Sumitomo Life Insurance Co. now owns 30,917 shares of the semiconductor company’s stock worth $2,635,000 after purchasing an additional 760 shares during the period. 88.58% of the stock is currently owned by institutional investors.
A number of equities research analysts recently commented on SNPS shares. JPMorgan Chase & Co. cut shares of Synopsys from a “neutral” rating to an “underweight” rating and set a $87.00 price target on the stock. in a report on Tuesday, December 12th. Royal Bank of Canada raised shares of Synopsys from an “outperform” rating to a “top pick” rating and boosted their target price for the company from $90.00 to $100.00 in a report on Wednesday, October 25th. BidaskClub cut shares of Synopsys from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Zacks Investment Research cut shares of Synopsys from a “hold” rating to a “strong sell” rating in a report on Monday, December 4th. Finally, Needham & Company LLC boosted their target price on shares of Synopsys from $83.00 to $100.00 and gave the company a “buy” rating in a report on Friday, December 1st. 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’s stock. The company presently has a consensus rating of “Hold” and an average price target of $96.89.
Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, November 29th. The semiconductor company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.12. Synopsys had a net margin of 5.01% and a return on equity of 5.78%. The business had revenue of $696.60 million for the quarter, compared to analysts’ expectations of $650.72 million. During the same quarter in the previous year, the firm posted $0.77 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. equities research analysts forecast that Synopsys, Inc. will post 2.24 earnings per share for the current fiscal year.
In other news, Director Chrysostomos L. Nikias sold 21,073 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $85.88, for a total transaction of $1,809,749.24. Following the completion of the transaction, the director now directly owns 32,466 shares in the company, valued at approximately $2,788,180.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven Walske sold 4,545 shares of the business’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $90.12, for a total transaction of $409,595.40. Following the transaction, the director now owns 14,988 shares of the company’s stock, valued at $1,350,718.56. The disclosure for this sale can be found here. Insiders have sold a total of 65,442 shares of company stock valued at $5,779,693 over the last 90 days. Company insiders own 1.82% of the company’s stock.
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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