Pinebridge Investments L.P. raised its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 98.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 126,010 shares of the semiconductor company’s stock after acquiring an additional 62,550 shares during the period. Pinebridge Investments L.P. owned about 0.08% of Synopsys worth $10,783,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Kornitzer Capital Management Inc. KS raised its stake in Synopsys by 4.8% in the first quarter. Kornitzer Capital Management Inc. KS now owns 209,400 shares of the semiconductor company’s stock valued at $17,430,000 after buying an additional 9,610 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in shares of Synopsys by 10.2% during the first quarter. Nomura Asset Management Co. Ltd. now owns 25,484 shares of the semiconductor company’s stock worth $2,121,000 after purchasing an additional 2,351 shares during the period. New Jersey Better Educational Savings Trust bought a new position in shares of Synopsys during the second quarter worth approximately $342,000. State of Alaska Department of Revenue increased its stake in shares of Synopsys by 15.0% during the second quarter. State of Alaska Department of Revenue now owns 37,715 shares of the semiconductor company’s stock worth $3,225,000 after purchasing an additional 4,930 shares during the period. Finally, Tredje AP fonden grew its position in Synopsys by 64.2% during the second quarter. Tredje AP fonden now owns 107,056 shares of the semiconductor company’s stock worth $9,161,000 after buying an additional 41,856 shares in the last quarter. 88.62% of the stock is owned by hedge funds and other institutional investors.

In other news, General Counsel John F. Runkel, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $102.00, for a total value of $1,020,000.00. Following the completion of the sale, the general counsel now directly owns 22,322 shares in the company, valued at approximately $2,276,844. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Chi-Foon Chan sold 3,609 shares of the firm’s stock in a transaction dated Friday, August 24th. The shares were 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 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. Corporate insiders own 1.84% of the company’s stock.

A number of equities research analysts recently issued reports on SNPS shares. KeyCorp increased their price target on Synopsys from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, August 23rd. BidaskClub raised Synopsys from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 28th. Credit Suisse Group raised their target price on Synopsys from $100.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday, May 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $105.00 target price (up previously from $100.00) on shares of Synopsys in a report on Thursday, August 23rd. Finally, Zacks Investment Research downgraded Synopsys from a “buy” rating to a “hold” rating in a report on Wednesday, May 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $106.14.

NASDAQ:SNPS traded down $0.09 during trading hours on Friday, hitting $102.72. 689,179 shares of the company were exchanged, compared to its average volume of 1,145,159. The firm has a market cap of $15.17 billion, a P/E ratio of 116.73, a P/E/G ratio of 6.50 and a beta of 1.17. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.04. Synopsys, Inc. has a one year low of $79.00 and a one year high of $103.40.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, August 22nd. The semiconductor company reported $0.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.03. Synopsys had a return on equity of 5.52% and a net margin of 1.92%. The firm had revenue of $779.70 million during the quarter, compared to analyst estimates of $773.61 million. During the same period last year, the company posted $0.92 EPS. The business’s quarterly revenue was up 12.1% on a year-over-year basis. equities research analysts expect that Synopsys, Inc. will post 1.57 EPS for the current year.

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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