CENTRAL TRUST Co Increases Position in Synopsys, Inc. (SNPS)

CENTRAL TRUST Co boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 542.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,878 shares of the semiconductor company’s stock after buying an additional 2,430 shares during the quarter. CENTRAL TRUST Co’s holdings in Synopsys were worth $284,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Fort L.P. purchased a new stake in shares of Synopsys during the second quarter valued at $117,000. Piedmont Investment Advisors LLC purchased a new stake in shares of Synopsys during the second quarter valued at $149,000. Advisor Partners LLC purchased a new stake in shares of Synopsys during the second quarter valued at $205,000. Checchi Capital Advisers LLC purchased a new stake in shares of Synopsys during the second quarter valued at $205,000. Finally, First Republic Investment Management Inc. purchased a new stake in shares of Synopsys during the second quarter valued at $209,000. 88.62% of the stock is owned by institutional investors and hedge funds.

Shares of Synopsys stock opened at $93.20 on Monday. The stock has a market capitalization of $14.65 billion, a P/E ratio of 105.91, a price-to-earnings-growth ratio of 6.28 and a beta of 1.18. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.70 and a quick ratio of 0.70. Synopsys, Inc. has a 1 year low of $80.13 and a 1 year high of $103.40.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, August 22nd. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.03. The firm had revenue of $779.70 million during the quarter, compared to the consensus estimate of $773.61 million. Synopsys had a return on equity of 5.52% and a net margin of 1.92%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.92 EPS. On average, research analysts forecast 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 stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $101.43, for a total value of $2,028,600.00. Following the completion of the sale, the executive vice president now directly owns 88,271 shares of the company’s stock, valued at approximately $8,953,327.53. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Chi-Foon Chan sold 3,609 shares of the stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $101.85, for a total value of $367,576.65. Following the completion of the sale, the chief executive officer now directly owns 202,135 shares of the company’s stock, valued at $20,587,449.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,609 shares of company stock valued at $3,416,177. Company insiders own 1.84% of the company’s stock.

Several brokerages have recently commented on SNPS. JPMorgan Chase & Co. upped their target price on Synopsys to $98.00 and gave the company an “underweight” rating in a report on Thursday, August 23rd. BidaskClub raised Synopsys from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. DA Davidson upped their target price on Synopsys to $110.00 and gave the company a “buy” rating in a report on Thursday, August 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $105.00 target price (up from $100.00) on shares of Synopsys in a report on Thursday, August 23rd. Finally, KeyCorp increased their price objective on Synopsys from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, August 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $106.14.

About Synopsys

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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