Edgestream Partners L.P. Purchases Shares of 11,096 Synopsys, Inc. (NASDAQ:SNPS)

Edgestream Partners L.P. purchased a new position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 11,096 shares of the semiconductor company's stock, valued at approximately $4,759,000.

Several other large investors have also recently made changes to their positions in SNPS. Ameriflex Group Inc. acquired a new position in Synopsys during the fourth quarter worth $29,000. Cornerstone Planning Group LLC raised its holdings in Synopsys by 275.0% during the first quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 44 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in Synopsys during the 4th quarter worth $34,000. Cloud Capital Management LLC purchased a new stake in shares of Synopsys in the 1st quarter valued at about $36,000. Finally, Hazlett Burt & Watson Inc. grew its position in shares of Synopsys by 28.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after acquiring an additional 20 shares during the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Trading Up 2.2%

Synopsys stock traded up $12.61 during trading on Thursday, reaching $583.81. The company had a trading volume of 2,029,510 shares, compared to its average volume of 1,253,244. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $604.83. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02. The stock's 50 day moving average price is $504.42 and its two-hundred day moving average price is $481.58. The firm has a market capitalization of $90.58 billion, a price-to-earnings ratio of 42.03, a PEG ratio of 3.76 and a beta of 1.12.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, topping analysts' consensus estimates of $3.40 by $0.27. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The business's revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the prior year, the firm posted $3.00 EPS. As a group, equities analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SNPS has been the subject of several analyst reports. Stifel Nicolaus set a $550.00 price target on Synopsys in a research note on Monday, April 28th. Rosenblatt Securities cut their price target on Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Mizuho decreased their price objective on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Piper Sandler reiterated an "overweight" rating and issued a $615.00 price target (down from $653.00) on shares of Synopsys in a research report on Thursday, May 29th. Finally, KeyCorp raised their price objective on shares of Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $617.67.

Insider Transactions at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 9,010 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total value of $4,245,602.10. Following the completion of the sale, the executive owned 1,485 shares of the company's stock, valued at $699,746.85. This trade represents a 85.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the sale, the chief executive officer directly owned 71,589 shares of the company's stock, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,686 shares of company stock valued at $13,001,048 over the last 90 days. Corporate insiders own 0.62% of the company's stock.

About Synopsys

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers 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.