Benjamin Edwards Inc. Increases Position in Synopsys, Inc. (NASDAQ:SNPS)

Key Points

• Benjamin Edwards Inc. significantly increased its stake in Synopsys, Inc. by 96.2%, now holding 1,197 shares worth $513,000.
• Synopsys reported earnings of $3.67 per share for the last quarter, surpassing analysts' expectations of $3.40 and showing a revenue increase of 10.3% year-over-year.
• Various analysts have set new price targets for Synopsys, with Morgan Stanley predicting a target price of $715.00, reflecting a positive outlook from the investment community.

Benjamin Edwards Inc. increased its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 96.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,197 shares of the semiconductor company's stock after acquiring an additional 587 shares during the period. Benjamin Edwards Inc.'s holdings in Synopsys were worth $513,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameriflex Group Inc. purchased a new position in Synopsys in the fourth quarter worth $29,000. Cornerstone Planning Group LLC grew its position in Synopsys by 275.0% in the first quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 44 shares in the last quarter. Cloud Capital Management LLC purchased a new position in Synopsys in the first quarter worth $36,000. Meeder Asset Management Inc. grew its position in Synopsys by 33.3% in the first quarter. Meeder Asset Management Inc. now owns 104 shares of the semiconductor company's stock worth $45,000 after acquiring an additional 26 shares in the last quarter. Finally, GoalVest Advisory LLC purchased a new position in Synopsys in the first quarter worth $50,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Stock Down 0.4%

Shares of Synopsys stock opened at $616.36 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. The company's fifty day simple moving average is $556.26 and its two-hundred day simple moving average is $497.32. The company has a market cap of $95.63 billion, a P/E ratio of 44.50, a PEG ratio of 4.09 and a beta of 1.15. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $651.73.

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a research report on Monday, April 28th. Bank of America upped their price target on shares of Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. KeyCorp upped their price target on shares of Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Morgan Stanley restated an "overweight" rating and set a $715.00 price target (up from $540.00) on shares of Synopsys in a research report on Monday. Finally, The Goldman Sachs Group started coverage on shares of Synopsys in a research report on Thursday, July 10th. They set a "buy" rating and a $620.00 price target for the company. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Synopsys currently has an average rating of "Moderate Buy" and an average price target of $630.67.

Insider Buying and Selling at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 9,010 shares of the business's stock in a transaction 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 transaction, the executive directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Shelagh Glaser sold 7,310 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the transaction, the chief financial officer directly owned 15,291 shares in the company, valued at approximately $7,427,144.52. The trade was a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,686 shares of company stock valued at $13,001,048. 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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