JPMorgan Chase & Co. Sells 106,494 Shares of Synopsys, Inc. (NASDAQ:SNPS)

JPMorgan Chase & Co. cut its position in shares of Synopsys, Inc. (NASDAQ:SNPSFree Report) by 2.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,676,491 shares of the semiconductor company’s stock after selling 106,494 shares during the period. JPMorgan Chase & Co. owned about 3.07% of Synopsys worth $1,806,294,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Centaurus Financial Inc. grew its stake in Synopsys by 5.4% during the 1st quarter. Centaurus Financial Inc. now owns 527 shares of the semiconductor company’s stock valued at $204,000 after purchasing an additional 27 shares during the last quarter. Advisory Services Network LLC lifted its position in shares of Synopsys by 340.0% in the first quarter. Advisory Services Network LLC now owns 2,363 shares of the semiconductor company’s stock valued at $913,000 after acquiring an additional 1,826 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of Synopsys by 1.3% in the first quarter. Rockefeller Capital Management L.P. now owns 7,222 shares of the semiconductor company’s stock worth $2,789,000 after buying an additional 91 shares in the last quarter. Providence Capital Advisors LLC lifted its stake in Synopsys by 19,185.7% in the 1st quarter. Providence Capital Advisors LLC now owns 47,250 shares of the semiconductor company’s stock worth $122,000 after purchasing an additional 47,005 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC boosted its stake in Synopsys by 0.7% during the first quarter. Chevy Chase Trust Holdings LLC now owns 88,795 shares of the semiconductor company’s stock worth $34,297,000 after buying an additional 626 shares during the last quarter. 84.12% of the stock is owned by institutional investors.

Synopsys Trading Up 2.8 %

SNPS stock opened at $466.86 on Thursday. Synopsys, Inc. has a one year low of $267.00 and a one year high of $471.15. The firm has a market capitalization of $71.01 billion, a PE ratio of 69.99, a P/E/G ratio of 3.55 and a beta of 1.11. The firm has a 50-day moving average of $446.91 and a two-hundred day moving average of $413.39.

Synopsys (NASDAQ:SNPSGet Free Report) last announced its quarterly earnings results on Wednesday, August 16th. The semiconductor company reported $2.88 EPS for the quarter, beating analysts’ consensus estimates of $2.74 by $0.14. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Synopsys had a net margin of 18.71% and a return on equity of 18.01%. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.43 earnings per share. On average, equities research analysts anticipate that Synopsys, Inc. will post 7.87 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. KeyCorp boosted their price target on shares of Synopsys from $500.00 to $515.00 and gave the company an “overweight” rating in a research note on Thursday, August 17th. StockNews.com upgraded Synopsys from a “buy” rating to a “strong-buy” rating in a report on Friday, August 25th. Wells Fargo & Company upped their price target on Synopsys from $410.00 to $420.00 in a report on Thursday, May 18th. Rosenblatt Securities restated a “buy” rating and set a $485.00 price target on shares of Synopsys in a report on Wednesday, August 23rd. Finally, Stifel Nicolaus increased their price objective on Synopsys from $445.00 to $470.00 and gave the company a “buy” rating in a report on Thursday, August 17th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $462.50.

Read Our Latest Stock Analysis on Synopsys

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Geus Aart De sold 40,839 shares of the business’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $428.18, for a total transaction of $17,486,443.02. Following the completion of the sale, the chief executive officer now owns 94,421 shares in the company, valued at approximately $40,429,183.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Synopsys news, CAO Sudhindra Kankanwadi sold 5,100 shares of Synopsys stock in a transaction on Friday, September 1st. The shares were sold at an average price of $460.75, for a total transaction of $2,349,825.00. Following the transaction, the chief accounting officer now directly owns 16,793 shares of the company’s stock, valued at approximately $7,737,374.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Geus Aart De sold 40,839 shares of the business’s stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $428.18, for a total transaction of $17,486,443.02. Following the completion of the transaction, the chief executive officer now directly owns 94,421 shares in the company, valued at $40,429,183.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,703 shares of company stock worth $25,129,310. 0.69% of the stock is owned by corporate insiders.

Synopsys Company Profile

(Free Report)

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers 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.

See Also

Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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