Alps Advisors Inc. Grows Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Alps Advisors Inc. boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 45.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,058 shares of the semiconductor company's stock after purchasing an additional 1,275 shares during the period. Alps Advisors Inc.'s holdings in Synopsys were worth $1,740,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ameriflex Group Inc. acquired a new position in shares of Synopsys during the fourth quarter worth $29,000. Cornerstone Planning Group LLC increased its holdings in shares of 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 buying an additional 44 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Synopsys during the fourth quarter worth $34,000. Cloud Capital Management LLC acquired a new position in shares of Synopsys during the first quarter worth $36,000. Finally, Hazlett Burt & Watson Inc. increased its holdings 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 buying an additional 20 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Trading Up 0.4%

SNPS traded up $2.10 during trading on Wednesday, reaching $571.20. 7,925,967 shares of the stock traded hands, compared to its average volume of 1,246,692. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $88.63 billion, a PE ratio of 41.24, a P/E/G ratio of 3.63 and a beta of 1.12. The stock's 50-day moving average is $502.62 and its 200 day moving average is $480.95. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $620.43.

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 (EPS) for the quarter, topping analysts' consensus estimates of $3.40 by $0.27. The company had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.60 billion. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The business's revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.00 EPS. Equities analysts anticipate that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Insider Buying and Selling at Synopsys

In other Synopsys news, CFO Shelagh Glaser sold 7,310 shares of the stock in a transaction dated Friday, June 6th. The shares were 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 owned 15,291 shares in the company, valued at approximately $7,427,144.52. This trade represents a 32.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Richard S. Mahoney sold 9,010 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the sale, the executive owned 1,485 shares of the company's stock, valued at approximately $699,746.85. The trade was a 85.85% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,686 shares of company stock worth $13,001,048. Insiders own 0.62% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SNPS shares. The Goldman Sachs Group started coverage on shares of Synopsys in a report on Thursday, July 10th. They set a "buy" rating and a $620.00 price target for the company. Bank of America increased their price objective on Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a report on Wednesday. Rosenblatt Securities decreased their price objective on Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Stifel Nicolaus set a $550.00 price objective on Synopsys in a report on Monday, April 28th. Finally, Piper Sandler restated an "overweight" rating and issued a $615.00 price objective (down from $653.00) on shares of Synopsys in a report on Thursday, May 29th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $617.67.

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.