Argonautica Private Wealth Management Inc. Acquires New Position in Synopsys, Inc. (NASDAQ:SNPS)

Argonautica Private Wealth Management Inc. purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,395 shares of the semiconductor company's stock, valued at approximately $598,000.

Several other hedge funds have also recently modified their holdings of the stock. Ameriflex Group Inc. acquired a new position in Synopsys during the 4th quarter valued at approximately $29,000. Cornerstone Planning Group LLC grew 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 valued at $25,000 after buying an additional 44 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Synopsys in the 4th quarter valued at $34,000. Cloud Capital Management LLC purchased a new position in Synopsys in the 1st quarter worth $36,000. Finally, Hazlett Burt & Watson Inc. lifted its position in Synopsys by 28.6% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after acquiring an additional 20 shares during the period. Institutional investors and hedge funds own 85.47% of the company's stock.

Synopsys Price Performance

Shares of Synopsys stock traded down $8.13 during trading hours on Friday, reaching $601.55. The stock had a trading volume of 1,819,768 shares, compared to its average volume of 2,347,250. The stock's 50 day moving average is $516.09 and its 200 day moving average is $486.19. 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 twelve month low of $365.74 and a twelve month high of $618.49. The firm has a market capitalization of $93.34 billion, a PE ratio of 43.43, a PEG ratio of 4.03 and a beta of 1.12.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its quarterly 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 company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the business posted $3.00 earnings per share. Synopsys's revenue for the quarter was up 10.3% on a year-over-year basis. Equities analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SNPS. Stifel Nicolaus set a $550.00 price objective on Synopsys in a report on Monday, April 28th. Rosenblatt Securities increased their price target on shares of Synopsys from $625.00 to $650.00 and gave the stock a "buy" rating in a report on Friday. Needham & Company LLC restated a "buy" rating and set a $660.00 price objective (up from $650.00) on shares of Synopsys in a research note on Tuesday, July 15th. Bank of America upped their price objective on shares of Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Finally, The Goldman Sachs Group assumed coverage on shares of Synopsys in a report on Thursday, July 10th. They set a "buy" rating and a $620.00 target price for the company. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $622.33.

Insider Activity

In other news, 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 transaction of $4,245,602.10. Following the completion of the sale, the executive owned 1,485 shares of the company's stock, valued at $699,746.85. The trade was a 85.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction dated 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 completion of the sale, the chief executive officer owned 71,589 shares in the company, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,686 shares of company stock worth $13,001,048 in the last quarter. Corporate insiders own 0.62% of the company's stock.

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.