Rovin Capital UT ADV Buys Shares of 559 Synopsys, Inc. (NASDAQ:SNPS)

Rovin Capital UT ADV acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 559 shares of the semiconductor company's stock, valued at approximately $240,000.

Several other hedge funds have also made changes to their positions in SNPS. Brighton Jones LLC grew its position in Synopsys by 5.7% during the fourth quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company's stock valued at $447,000 after acquiring an additional 50 shares during the period. SVB Wealth LLC acquired a new stake in Synopsys during the fourth quarter worth about $372,000. Fisher Asset Management LLC increased its stake in Synopsys by 1.0% during the fourth quarter. Fisher Asset Management LLC now owns 12,643 shares of the semiconductor company's stock worth $6,137,000 after acquiring an additional 122 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Synopsys by 17.4% during the fourth quarter. Jones Financial Companies Lllp now owns 5,213 shares of the semiconductor company's stock worth $2,530,000 after acquiring an additional 772 shares during the last quarter. Finally, LGT Fund Management Co Ltd. increased its stake in Synopsys by 141.1% during the fourth quarter. LGT Fund Management Co Ltd. now owns 1,145 shares of the semiconductor company's stock worth $556,000 after acquiring an additional 670 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Synopsys Stock Up 4.5%

Shares of NASDAQ SNPS traded up $23.65 during midday trading on Friday, reaching $546.76. 2,020,024 shares of the company's stock were exchanged, compared to its average volume of 1,177,053. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $624.80. The stock has a market capitalization of $84.83 billion, a PE ratio of 39.48, a price-to-earnings-growth ratio of 3.62 and a beta of 1.12. 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 business's fifty day moving average price is $489.89 and its two-hundred day moving average price is $478.16.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.40 by $0.27. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the company earned $3.00 earnings per share. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. Analysts forecast that Synopsys, Inc. will post 10.64 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on SNPS shares. Stifel Nicolaus set a $550.00 price target on Synopsys in a research note on Monday, April 28th. Rosenblatt Securities dropped 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. Needham & Company LLC restated a "buy" rating and set a $650.00 price target on shares of Synopsys in a research note on Thursday, May 29th. Bank of America cut their price objective on Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Finally, Mizuho cut their price objective on Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, Synopsys currently has a consensus rating of "Moderate Buy" and an average price target of $607.14.

Insider Transactions at Synopsys

In related news, CFO Shelagh Glaser sold 7,310 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $485.72, for a total value of $3,550,613.20. Following the completion of the sale, the chief financial officer directly owned 15,291 shares of the company's stock, valued at $7,427,144.52. The trade was a 32.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Richard S. Mahoney sold 9,010 shares of the business's stock in a transaction dated 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 directly owned 1,485 shares of the company's stock, valued at approximately $699,746.85. This represents a 85.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,686 shares of company stock valued at $13,001,048. 0.62% of the stock is currently owned by insiders.

Synopsys Company Profile

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.