Advisor Resource Council Invests $1.73 Million in Synopsys, Inc. (NASDAQ:SNPS)

Advisor Resource Council acquired a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,023 shares of the semiconductor company's stock, valued at approximately $1,725,000.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Synopsys by 5.7% in the 4th quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company's stock worth $447,000 after buying an additional 50 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in Synopsys in the fourth quarter valued at approximately $17,162,000. Truist Financial Corp grew its holdings in Synopsys by 2.3% in the fourth quarter. Truist Financial Corp now owns 18,766 shares of the semiconductor company's stock worth $9,108,000 after purchasing an additional 413 shares during the last quarter. D.A. Davidson & CO. grew its holdings in Synopsys by 6.9% in the fourth quarter. D.A. Davidson & CO. now owns 4,404 shares of the semiconductor company's stock worth $2,138,000 after purchasing an additional 286 shares during the last quarter. Finally, ING Groep NV increased its position in shares of Synopsys by 320.1% during the fourth quarter. ING Groep NV now owns 38,708 shares of the semiconductor company's stock worth $18,787,000 after purchasing an additional 29,493 shares in the last quarter. Institutional investors own 85.47% of the company's stock.

Wall Street Analysts Forecast Growth

SNPS has been the subject of a number of recent analyst reports. Mizuho lowered their price objective on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Needham & Company LLC reissued a "buy" rating and issued a $650.00 price target on shares of Synopsys in a report on Thursday, May 29th. Bank of America dropped their price target on Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Piper Sandler restated an "overweight" rating and set a $615.00 price objective (down previously from $653.00) on shares of Synopsys in a report on Thursday, May 29th. Finally, Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a research note on Monday, April 28th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Synopsys currently has a consensus rating of "Moderate Buy" and a consensus price target of $607.14.

Synopsys Stock Performance

SNPS opened at $470.53 on Friday. The company has a current ratio of 7.02, a quick ratio of 6.85 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 firm has a 50 day moving average of $472.42 and a two-hundred day moving average of $478.95. The firm has a market capitalization of $73.01 billion, a PE ratio of 33.97, a P/E/G ratio of 3.13 and a beta of 1.11.

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

Insider Activity

In other news, CRO Richard S. Mahoney sold 9,010 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the sale, the executive now owns 1,485 shares of the company's stock, valued at $699,746.85. This trade represents a 85.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the business'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 completion of the transaction, the chief executive officer now owns 71,589 shares of the company's stock, valued at approximately $32,782,750.77. This represents a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,686 shares of company stock valued at $13,001,048 in the last quarter. 0.62% of the stock is currently owned by company 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.

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