Synopsys, Inc. (NASDAQ:SNPS) Stock Position Lifted by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. increased its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 7.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 76,660 shares of the semiconductor company's stock after acquiring an additional 5,219 shares during the period. Asset Management One Co. Ltd.'s holdings in Synopsys were worth $32,876,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Oppenheimer & Co. Inc. increased its holdings in shares of Synopsys by 6.1% in the 1st quarter. Oppenheimer & Co. Inc. now owns 22,225 shares of the semiconductor company's stock worth $9,531,000 after acquiring an additional 1,286 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in shares of Synopsys by 23.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 29,560 shares of the semiconductor company's stock worth $12,677,000 after acquiring an additional 5,658 shares during the period. Continuum Advisory LLC increased its holdings in shares of Synopsys by 5.4% in the 1st quarter. Continuum Advisory LLC now owns 1,126 shares of the semiconductor company's stock worth $483,000 after acquiring an additional 58 shares during the period. Stiles Financial Services Inc increased its holdings in shares of Synopsys by 27.5% in the 1st quarter. Stiles Financial Services Inc now owns 4,782 shares of the semiconductor company's stock worth $2,051,000 after acquiring an additional 1,032 shares during the period. Finally, Flagship Harbor Advisors LLC increased its holdings in shares of Synopsys by 104.0% in the 1st quarter. Flagship Harbor Advisors LLC now owns 1,324 shares of the semiconductor company's stock worth $568,000 after acquiring an additional 675 shares during the period. Institutional investors and hedge funds own 85.47% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on SNPS shares. Mizuho lowered their target price on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Piper Sandler restated 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. Stifel Nicolaus set a $550.00 price target on shares of Synopsys in a research report on Monday, April 28th. Needham & Company LLC restated a "buy" rating and set a $650.00 price target on shares of Synopsys in a research report on Thursday, May 29th. Finally, Bank of America dropped their price target on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $607.14.

Synopsys Price Performance

Shares of SNPS traded up $8.43 during mid-day trading on Thursday, hitting $495.70. The company's stock had a trading volume of 1,019,267 shares, compared to its average volume of 1,155,627. The firm has a 50-day moving average price of $475.90 and a 200 day moving average price of $477.69. The stock has a market capitalization of $76.91 billion, a price-to-earnings ratio of 35.79, a PEG ratio of 3.16 and a beta of 1.11. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week 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, topping the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.00 EPS. On average, research analysts predict that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 9,010 shares of Synopsys stock in a transaction that occurred 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 transaction, the executive now directly owns 1,485 shares of the company's stock, valued at $699,746.85. This trade represents a 85.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction that occurred on Monday, June 2nd. The stock was 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 directly owns 71,589 shares in the company, valued at approximately $32,782,750.77. This trade represents 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 valued at $13,001,048 in the last quarter. Insiders own 0.62% of the company's stock.

About Synopsys

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.