Principal Financial Group Inc. trimmed its position in Synopsys, Inc. (NASDAQ:SNPS) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 453,272 shares of the semiconductor company’s stock after selling 12,605 shares during the quarter. Principal Financial Group Inc. owned approximately 0.30% of Synopsys worth $38,183,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Synopsys by 4.1% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 48,062 shares of the semiconductor company’s stock worth $4,049,000 after acquiring an additional 1,900 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of Synopsys by 3.2% during the fourth quarter. Oppenheimer & Co. Inc. now owns 42,390 shares of the semiconductor company’s stock worth $3,571,000 after acquiring an additional 1,308 shares in the last quarter. Advisor Group Inc. raised its stake in shares of Synopsys by 19.6% during the fourth quarter. Advisor Group Inc. now owns 11,470 shares of the semiconductor company’s stock worth $966,000 after acquiring an additional 1,876 shares in the last quarter. Dorsey Wright & Associates raised its stake in shares of Synopsys by 4.3% during the fourth quarter. Dorsey Wright & Associates now owns 40,180 shares of the semiconductor company’s stock worth $3,385,000 after acquiring an additional 1,657 shares in the last quarter. Finally, D.A. Davidson & CO. raised its stake in shares of Synopsys by 9.9% during the fourth quarter. D.A. Davidson & CO. now owns 4,609 shares of the semiconductor company’s stock worth $388,000 after acquiring an additional 416 shares in the last quarter. 90.59% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have commented on the stock. BidaskClub raised shares of Synopsys from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 13th. DA Davidson raised their target price on shares of Synopsys to $125.00 and gave the stock a “positive” rating in a report on Thursday, February 21st. Zacks Investment Research upgraded shares of Synopsys from a “hold” rating to a “strong-buy” rating and set a $117.00 target price on the stock in a report on Monday, February 25th. Needham & Company LLC raised their target price on shares of Synopsys from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, December 6th. Finally, Benchmark upgraded shares of Synopsys from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a report on Thursday, December 6th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $112.63.
Shares of Synopsys stock opened at $110.31 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.03. Synopsys, Inc. has a 52-week low of $79.14 and a 52-week high of $112.93. The company has a market capitalization of $16.51 billion, a PE ratio of 39.12, a PEG ratio of 3.52 and a beta of 1.29.
Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, February 20th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.51. Synopsys had a net margin of 18.59% and a return on equity of 17.23%. The firm had revenue of $820.40 million for the quarter, compared to analysts’ expectations of $796.30 million. During the same quarter last year, the business earned $1.10 earnings per share. The business’s revenue was up 6.6% on a year-over-year basis. As a group, analysts predict that Synopsys, Inc. will post 3.13 EPS for the current year.
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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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