Tower Research Capital LLC TRC Increases Stake in Synopsys, Inc. (NASDAQ:SNPS)

Tower Research Capital LLC TRC boosted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 3,350.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,898 shares of the semiconductor company’s stock after acquiring an additional 2,814 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Synopsys were worth $398,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Carillon Tower Advisers Inc. boosted its stake in shares of Synopsys by 12.6% in the third quarter. Carillon Tower Advisers Inc. now owns 755,009 shares of the semiconductor company’s stock worth $103,651,000 after acquiring an additional 84,524 shares during the last quarter. Lakeview Capital Partners LLC purchased a new stake in Synopsys in the third quarter valued at $203,000. Eagle Asset Management Inc. raised its position in Synopsys by 2.7% in the third quarter. Eagle Asset Management Inc. now owns 879,965 shares of the semiconductor company’s stock valued at $120,775,000 after purchasing an additional 22,777 shares during the period. Alps Advisors Inc. purchased a new stake in Synopsys in the third quarter valued at $366,000. Finally, Daiwa Securities Group Inc. raised its position in Synopsys by 4.4% in the third quarter. Daiwa Securities Group Inc. now owns 6,866 shares of the semiconductor company’s stock valued at $942,000 after purchasing an additional 288 shares during the period. Institutional investors own 89.27% of the company’s stock.

In related news, VP Sudhindra Kankanwadi sold 8,011 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $144.30, for a total transaction of $1,155,987.30. Following the completion of the transaction, the vice president now directly owns 8,663 shares of the company’s stock, valued at approximately $1,250,070.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chi-Foon Chan sold 4,578 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $137.14, for a total value of $627,826.92. Following the transaction, the chief executive officer now directly owns 199,539 shares of the company’s stock, valued at $27,364,778.46. The disclosure for this sale can be found here. Insiders have sold a total of 22,589 shares of company stock valued at $3,158,514 over the last three months. 1.84% of the stock is currently owned by insiders.

A number of equities research analysts have commented on the company. Wells Fargo & Co restated an “outperform” rating and issued a $160.00 target price (up previously from $150.00) on shares of Synopsys in a research report on Thursday, August 22nd. DA Davidson lifted their target price on Synopsys to $155.00 and gave the company a “positive” rating in a research report on Thursday, August 22nd. KeyCorp boosted their price objective on Synopsys from $152.00 to $153.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. boosted their price objective on Synopsys from $138.00 to $157.00 and gave the company a “neutral” rating in a report on Wednesday, September 11th. Finally, ValuEngine downgraded Synopsys from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Synopsys currently has an average rating of “Buy” and a consensus price target of $145.64.

SNPS stock opened at $139.23 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.90 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $20.76 billion, a PE ratio of 49.37, a P/E/G ratio of 3.39 and a beta of 1.20. Synopsys, Inc. has a 12-month low of $79.14 and a 12-month high of $146.66. The business’s fifty day moving average price is $136.99 and its 200 day moving average price is $131.59.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The firm had revenue of $853.00 million for the quarter, compared to the consensus estimate of $831.03 million. Synopsys had a return on equity of 16.56% and a net margin of 18.94%. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.95 EPS. Research analysts predict that Synopsys, Inc. will post 3.15 EPS for the current fiscal year.

About Synopsys

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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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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