8,790 Shares in Synopsys, Inc. (NASDAQ:SNPS) Bought by Banque Pictet & Cie SA

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

A number of other hedge funds and other institutional investors also recently bought and sold shares of SNPS. Norges Bank bought a new stake in shares of Synopsys during the fourth quarter valued at approximately $583,608,000. GAMMA Investing LLC raised its holdings in shares of Synopsys by 54,286.0% during the first quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company's stock valued at $513,116,000 after buying an additional 1,194,292 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Synopsys by 21.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock valued at $2,864,933,000 after buying an additional 1,045,326 shares during the last quarter. Capital Research Global Investors bought a new stake in Synopsys during the fourth quarter worth approximately $239,864,000. Finally, Ameriprise Financial Inc. raised its holdings in Synopsys by 26.2% during the fourth quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock worth $916,441,000 after purchasing an additional 391,681 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SNPS shares. Rosenblatt Securities dropped their target price on Synopsys from $660.00 to $625.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Piper Sandler reissued an "overweight" rating and set a $615.00 target price (down previously from $653.00) on shares of Synopsys in a report on Thursday, May 29th. KeyCorp boosted their target price on Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a report on Thursday. Mizuho dropped their target price on Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, Needham & Company LLC reissued a "buy" rating and set a $650.00 target price on shares of Synopsys in a report on Thursday, May 29th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $612.67.

Insider Activity

In related news, CRO Richard S. Mahoney sold 9,010 shares of the company's stock in a transaction 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 directly owned 1,485 shares in the company, valued at approximately $699,746.85. This represents a 85.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Shelagh Glaser sold 7,310 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the completion of the sale, the chief financial officer owned 15,291 shares of the company's stock, valued at $7,427,144.52. This represents a 32.34% 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 worth $13,001,048 in the last ninety days. Corporate insiders own 0.62% of the company's stock.

Synopsys Stock Down 0.4%

Shares of Synopsys stock traded down $2.05 on Friday, hitting $564.15. 830,446 shares of the company traded hands, compared to its average volume of 1,186,348. The company has a 50-day moving average price of $497.53 and a 200 day moving average price of $479.77. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $624.80. The company has a market cap of $87.53 billion, a PE ratio of 40.81, a PEG ratio of 3.64 and a beta of 1.12.

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

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.