Penserra Capital Management LLC Acquires 17,069 Shares of Synopsys, Inc. (SNPS)

Penserra Capital Management LLC grew its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 288.1% during the 3rd quarter, Holdings Channel reports. The firm owned 22,994 shares of the semiconductor company’s stock after purchasing an additional 17,069 shares during the period. Penserra Capital Management LLC’s holdings in Synopsys were worth $2,266,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Janney Montgomery Scott LLC acquired a new stake in shares of Synopsys in the third quarter valued at approximately $387,000. Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of Synopsys by 4.6% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 347,801 shares of the semiconductor company’s stock valued at $34,297,000 after purchasing an additional 15,170 shares during the last quarter. Gulf International Bank UK Ltd raised its holdings in shares of Synopsys by 1.4% in the third quarter. Gulf International Bank UK Ltd now owns 46,366 shares of the semiconductor company’s stock valued at $4,572,000 after purchasing an additional 647 shares during the last quarter. Virginia Retirement Systems ET AL raised its holdings in shares of Synopsys by 56.9% in the third quarter. Virginia Retirement Systems ET AL now owns 185,000 shares of the semiconductor company’s stock valued at $18,243,000 after purchasing an additional 67,100 shares during the last quarter. Finally, Bbva Compass Bancshares Inc. raised its holdings in shares of Synopsys by 5.0% in the third quarter. Bbva Compass Bancshares Inc. now owns 15,820 shares of the semiconductor company’s stock valued at $1,560,000 after purchasing an additional 755 shares during the last quarter. 87.32% of the stock is currently owned by institutional investors.

Shares of SNPS opened at $93.35 on Friday. The firm has a market cap of $13.85 billion, a P/E ratio of 82.50, a PEG ratio of 3.67 and a beta of 1.27. Synopsys, Inc. has a 1-year low of $80.13 and a 1-year high of $103.40. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.70 and a current ratio of 0.70.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, August 22nd. The semiconductor company reported $0.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.03. The business had revenue of $779.70 million for the quarter, compared to the consensus estimate of $773.61 million. Synopsys had a net margin of 1.92% and a return on equity of 5.52%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.92 earnings per share. On average, analysts predict that Synopsys, Inc. will post 1.57 earnings per share for the current year.

In related news, EVP Joseph W. Logan sold 20,000 shares of the business’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $101.43, for a total transaction of $2,028,600.00. Following the transaction, the executive vice president now directly owns 88,271 shares in the company, valued at $8,953,327.53. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel John F. Runkel, Jr. sold 10,000 shares of the business’s stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $102.00, for a total transaction of $1,020,000.00. Following the transaction, the general counsel now owns 22,322 shares in the company, valued at $2,276,844. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,609 shares of company stock worth $3,416,177. 1.84% of the stock is owned by corporate insiders.

A number of analysts have recently issued reports on SNPS shares. BidaskClub upgraded shares of Synopsys from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 28th. Needham & Company LLC reiterated a “buy” rating and issued a $105.00 price objective (up from $100.00) on shares of Synopsys in a report on Thursday, August 23rd. DA Davidson lifted their price objective on shares of Synopsys to $110.00 and gave the company a “buy” rating in a report on Thursday, August 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Synopsys to $98.00 and gave the company an “underweight” rating in a report on Thursday, August 23rd. Finally, Zacks Investment Research upgraded shares of Synopsys from a “hold” rating to a “buy” rating and set a $99.00 price objective on the stock in a report on Tuesday, October 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $107.00.

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Synopsys Company Profile

Synopsys, Inc provides electronic design automation (EDA) software products used to design and test integrated circuits (ICs). It offers Galaxy Design platform that offers IC design solutions; Verification Continuum Platform, which provides virtual prototyping, static and formal verification, simulation, emulation, field-programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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