Keybank National Association OH Decreases Position in Synopsys, Inc. (NASDAQ:SNPS)

Keybank National Association OH decreased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 6.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 5,927 shares of the semiconductor company’s stock after selling 404 shares during the quarter. Keybank National Association OH’s holdings in Synopsys were worth $813,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Quest Capital Management Inc. ADV purchased a new stake in shares of Synopsys in the third quarter valued at $25,000. Next Capital Management LLC acquired a new stake in Synopsys during the second quarter worth about $26,000. Ruggie Capital Group acquired a new stake in Synopsys during the second quarter worth about $32,000. Virtus ETF Advisers LLC acquired a new stake in Synopsys during the second quarter worth about $34,000. Finally, Arcadia Investment Management Corp MI acquired a new stake in Synopsys during the second quarter worth about $42,000. Hedge funds and other institutional investors own 88.52% of the company’s stock.

In other Synopsys news, General Counsel John F. Runkel, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $137.47, for a total transaction of $1,374,700.00. Following the completion of the sale, the general counsel now owns 16,848 shares in the company, valued at approximately $2,316,094.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Sudhindra Kankanwadi sold 8,011 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $144.30, for a total value of $1,155,987.30. Following the sale, the vice president now owns 8,663 shares of the company’s stock, valued at approximately $1,250,070.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,589 shares of company stock valued at $3,158,514. Insiders own 1.84% of the company’s stock.

Shares of SNPS stock traded up $0.37 during trading hours on Wednesday, reaching $139.26. The company had a trading volume of 10,948 shares, compared to its average volume of 1,086,043. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.90 and a current ratio of 0.99. Synopsys, Inc. has a twelve month low of $79.14 and a twelve month high of $146.66. The company has a market capitalization of $20.47 billion, a P/E ratio of 49.32, a price-to-earnings-growth ratio of 3.34 and a beta of 1.20. The stock’s fifty day simple moving average is $136.76 and its 200 day simple moving average is $131.02.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. Synopsys had a return on equity of 16.56% and a net margin of 18.94%. The business had revenue of $853.00 million during the quarter, compared to analyst estimates of $831.03 million. During the same quarter last year, the firm earned $0.95 earnings per share. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, equities analysts expect that Synopsys, Inc. will post 3.15 earnings per share for the current year.

Several equities research analysts have commented on SNPS shares. JPMorgan Chase & Co. upped their price target on Synopsys from $138.00 to $157.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 11th. DA Davidson upped their price target on Synopsys to $155.00 and gave the stock a “positive” rating in a research note on Thursday, August 22nd. Credit Suisse Group restated a “positive” rating and set a $150.00 price target (up from $125.00) on shares of Synopsys in a research note on Thursday, August 22nd. Wells Fargo & Co restated an “outperform” rating and set a $160.00 price target (up from $150.00) on shares of Synopsys in a research note on Thursday, August 22nd. Finally, BidaskClub lowered Synopsys from a “buy” rating to a “hold” rating in a research note on Saturday, October 19th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Synopsys currently has an average rating of “Buy” and an average price target of $145.64.

About Synopsys

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits (ICs). It offers Fusion Design Platform, a digital design implementation solution; 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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