Synopsys, Inc. (SNPS) Holdings Lifted by Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp

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Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 35.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,798 shares of the semiconductor company’s stock after acquiring an additional 14,500 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in Synopsys were worth $4,645,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in SNPS. Robecosam AG grew its position in Synopsys by 69.2% in the fourth quarter. Robecosam AG now owns 2,200 shares of the semiconductor company’s stock valued at $188,000 after acquiring an additional 900 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in Synopsys in the fourth quarter valued at about $216,000. Evergreen Capital Management LLC bought a new position in Synopsys in the first quarter valued at about $224,000. Quantitative Investment Management LLC bought a new stake in shares of Synopsys during the fourth quarter worth about $247,000. Finally, Parametrica Management Ltd bought a new stake in shares of Synopsys during the first quarter worth about $265,000. Hedge funds and other institutional investors own 88.45% of the company’s stock.

In related news, CEO Chi-Foon Chan sold 42,831 shares of the company’s stock in a transaction that occurred on Friday, May 25th. The stock was sold at an average price of $88.08, for a total value of $3,772,554.48. Following the sale, the chief executive officer now directly owns 248,575 shares in the company, valued at $21,894,486. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joseph W. Logan sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, May 25th. The shares were sold at an average price of $88.33, for a total value of $1,766,600.00. Following the completion of the sale, the executive vice president now owns 88,271 shares in the company, valued at $7,796,977.43. The disclosure for this sale can be found here. Insiders sold 72,633 shares of company stock worth $6,421,334 over the last quarter. 1.84% of the stock is currently owned by company insiders.

Several analysts have recently weighed in on the company. TheStreet upgraded Synopsys from a “c+” rating to a “b” rating in a report on Wednesday, May 23rd. Credit Suisse Group boosted their price target on Synopsys from $100.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday, May 24th. KeyCorp boosted their price target on Synopsys from $110.00 to $112.00 and gave the stock an “overweight” rating in a report on Thursday, May 24th. Zacks Investment Research cut Synopsys from a “buy” rating to a “hold” rating in a report on Wednesday, May 23rd. Finally, BidaskClub upgraded Synopsys from a “sell” rating to a “hold” rating in a report on Thursday, May 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $102.71.

NASDAQ:SNPS opened at $88.12 on Friday. The stock has a market cap of $13.46 billion, a PE ratio of 100.14, a PEG ratio of 5.47 and a beta of 1.10. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.04. Synopsys, Inc. has a 1-year low of $71.94 and a 1-year high of $94.80.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, May 23rd. The semiconductor company reported $1.08 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.08. Synopsys had a return on equity of 6.55% and a net margin of 3.25%. The company had revenue of $776.80 million for the quarter, compared to analysts’ expectations of $775.60 million. During the same period in the previous year, the business posted $0.88 earnings per share. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. sell-side analysts anticipate that Synopsys, Inc. will post 1.65 earnings per share for the current year.

Synopsys announced that its Board of Directors has approved a stock buyback plan on Thursday, April 5th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to purchase up to 4.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Synopsys 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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