Nippon Life Insurance Co. Takes Position in Synopsys, Inc. (SNPS)

Nippon Life Insurance Co. acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 21,717 shares of the semiconductor company’s stock, valued at approximately $1,566,000.

Other large investors have also recently modified their holdings of the company. Creative Planning raised its position in Synopsys by 17.2% in the third quarter. Creative Planning now owns 1,884 shares of the semiconductor company’s stock worth $112,000 after buying an additional 276 shares during the period. SRS Capital Advisors Inc. acquired a new stake in shares of Synopsys during the fourth quarter worth about $114,000. TLP Group LLC acquired a new stake in shares of Synopsys during the third quarter worth about $123,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Synopsys during the fourth quarter worth about $150,000. Finally, Capital Investment Counsel Inc acquired a new stake in shares of Synopsys during the third quarter worth about $201,000. 89.96% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

Synopsys, Inc. (NASDAQ:SNPS) opened at 70.99 on Friday. The firm’s 50-day moving average price is $72.85 and its 200 day moving average price is $66.16. Synopsys, Inc. has a 52-week low of $49.34 and a 52-week high of $75.34. The firm has a market cap of $10.69 billion, a PE ratio of 39.66 and a beta of 0.87.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, May 17th. The semiconductor company reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.02. The firm had revenue of $680.07 million for the quarter, compared to the consensus estimate of $672.40 million. Synopsys had a net margin of 11.01% and a return on equity of 11.51%. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.81 EPS. On average, equities analysts anticipate that Synopsys, Inc. will post $3.28 earnings per share for the current year.

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A number of analysts have issued reports on SNPS shares. Needham & Company LLC reaffirmed a “buy” rating and set a $76.00 price target on shares of Synopsys in a report on Monday, April 17th. Royal Bank of Canada boosted their target price on Synopsys from $66.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, February 16th. Zacks Investment Research downgraded Synopsys from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. Bank of America Corp reissued a “buy” rating and issued a $87.00 target price (up from $80.00) on shares of Synopsys in a report on Friday. Finally, DA Davidson reissued a “buy” rating and issued a $85.00 target price (up from $77.00) on shares of Synopsys in a report on Friday. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $75.78.

In other Synopsys news, CFO Trac Pham sold 39,899 shares of the business’s stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $71.24, for a total transaction of $2,842,404.76. Following the completion of the sale, the chief financial officer now owns 12,158 shares in the company, valued at approximately $866,135.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven Walske sold 9,074 shares of the business’s stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $71.02, for a total transaction of $644,435.48. Following the sale, the director now owns 17,080 shares of the company’s stock, valued at approximately $1,213,021.60. The disclosure for this sale can be found here. Insiders sold a total of 60,973 shares of company stock valued at $4,334,280 in the last quarter. 1.62% of the stock is currently owned by company insiders.

About Synopsys

Synopsys, Inc provides software, intellectual property (IP) and services. The Company supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits, also known as chips. It also offers IP products, which are pre-designed circuits that engineers use as components of larger chip designs rather than designing those circuits themselves.

12 Month Chart for NASDAQ:SNPS

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