Metropolitan Life Insurance Co NY Has $2.47 Million Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Metropolitan Life Insurance Co NY lessened its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 3.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,418 shares of the semiconductor company’s stock after selling 729 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Synopsys were worth $2,466,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SNPS. Cypress Wealth Advisors LLC purchased a new stake in shares of Synopsys in the first quarter valued at about $230,000. Nordea Investment Management AB boosted its holdings in shares of Synopsys by 20.8% in the first quarter. Nordea Investment Management AB now owns 343,478 shares of the semiconductor company’s stock valued at $39,551,000 after acquiring an additional 59,165 shares in the last quarter. GYL Financial Synergies LLC purchased a new stake in Synopsys during the first quarter worth about $999,000. Marshall Wace North America L.P. boosted its holdings in Synopsys by 2,163.3% during the first quarter. Marshall Wace North America L.P. now owns 546,217 shares of the semiconductor company’s stock worth $62,897,000 after buying an additional 522,083 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in Synopsys by 159.4% during the first quarter. Marshall Wace LLP now owns 122,717 shares of the semiconductor company’s stock worth $14,131,000 after buying an additional 75,412 shares in the last quarter. 91.72% of the stock is owned by institutional investors.

Shares of SNPS stock traded up $0.97 during trading hours on Friday, reaching $137.41. The stock had a trading volume of 695,314 shares, compared to its average volume of 1,328,019. The company has a quick ratio of 0.85, a current ratio of 0.95 and a debt-to-equity ratio of 0.03. Synopsys, Inc. has a twelve month low of $79.14 and a twelve month high of $137.88. The company’s 50-day simple moving average is $125.93. The company has a market cap of $20.45 billion, a price-to-earnings ratio of 48.73, a PEG ratio of 4.09 and a beta of 1.27.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, May 22nd. The semiconductor company reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.04. Synopsys had a net margin of 18.74% and a return on equity of 16.88%. The firm had revenue of $836.20 million for the quarter, compared to analysts’ expectations of $829.41 million. During the same quarter last year, the company earned $1.08 EPS. Synopsys’s quarterly revenue was up 7.6% on a year-over-year basis. Analysts predict that Synopsys, Inc. will post 3.03 EPS for the current year.

Several analysts have issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $120.00 price target on shares of Synopsys in a report on Wednesday, April 3rd. Zacks Investment Research raised shares of Hudson Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Wells Fargo & Co initiated coverage on shares of Semtech in a report on Tuesday, May 14th. They issued an “outperform” rating and a $48.03 price target on the stock. Bank of America set a $4.00 price objective on shares of GameStop and gave the company a “sell” rating in a research report on Wednesday, June 5th. Finally, DA Davidson boosted their price objective on shares of Synopsys to $135.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Synopsys presently has a consensus rating of “Buy” and an average target price of $125.89.

In other Synopsys news, VP Sudhindra Kankanwadi sold 3,133 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $121.88, for a total value of $381,850.04. Following the completion of the transaction, the vice president now directly owns 8,416 shares in the company, valued at $1,025,742.08. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Chrysostomos L. Nikias sold 1,050 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $117.36, for a total transaction of $123,228.00. Following the completion of the transaction, the director now owns 22,881 shares of the company’s stock, valued at $2,685,314.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 207,180 shares of company stock valued at $24,653,559. Insiders own 1.84% of the company’s stock.

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.

Further Reading: Overbought

Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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