Banque Pictet & Cie SA Makes New Investment in Synopsys, Inc. (NASDAQ:SNPS)

Banque Pictet & Cie SA bought a new position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,790 shares of the semiconductor company's stock, valued at approximately $3,770,000.

Other large investors have also bought and sold shares of the company. Cornerstone Planning Group LLC boosted its stake in Synopsys by 275.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 44 shares during the period. Ameriflex Group Inc. bought a new position in shares of Synopsys during the fourth quarter worth about $29,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Synopsys in the 4th quarter valued at approximately $34,000. Cloud Capital Management LLC bought a new stake in Synopsys in the 1st quarter valued at approximately $36,000. Finally, Hazlett Burt & Watson Inc. grew its position in Synopsys by 28.6% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock valued at $44,000 after purchasing an additional 20 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Synopsys Trading Up 2.8%

Shares of SNPS stock traded up $15.24 on Thursday, hitting $566.19. 1,775,121 shares of the company's stock traded hands, compared to its average volume of 1,187,683. 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 has a market capitalization of $87.85 billion, a price-to-earnings ratio of 40.88, a P/E/G ratio of 3.64 and a beta of 1.12. The company's fifty day simple moving average is $495.39 and its 200 day simple moving average is $479.26. Synopsys, Inc. has a one year low of $365.74 and a one year high of $624.80.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.60 billion. During the same period last year, the firm earned $3.00 earnings per share. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. Equities analysts forecast that Synopsys, Inc. will post 10.64 EPS for the current year.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $457.93, for a total value of $5,204,832.38. Following the sale, the chief executive officer directly owned 71,589 shares of the company's stock, valued at $32,782,750.77. This represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Richard S. Mahoney sold 9,010 shares of the business's stock in a transaction on Wednesday, June 18th. The stock was 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 in the company, valued at $699,746.85. This trade represents a 85.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,686 shares of company stock valued at $13,001,048 over the last ninety days. Company insiders own 0.62% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SNPS shares. Needham & Company LLC reissued a "buy" rating and set a $650.00 price target on shares of Synopsys in a research report on Thursday, May 29th. Mizuho cut their price target 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. KeyCorp boosted their price target on shares of Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a research report on Thursday. Piper Sandler reissued an "overweight" rating and set a $615.00 price target (down from $653.00) on shares of Synopsys in a research report on Thursday, May 29th. Finally, Bank of America decreased their target price on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $612.67.

Synopsys 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.