Cambridge Investment Research Advisors Inc. Has $2.89 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

Cambridge Investment Research Advisors Inc. increased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 8.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,748 shares of the semiconductor company's stock after acquiring an additional 550 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Synopsys were worth $2,894,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of SNPS. Advisors Capital Management LLC grew its position in Synopsys by 2.3% in the 4th quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company's stock worth $408,000 after purchasing an additional 19 shares during the last quarter. Barden Capital Management Inc. grew its holdings in Synopsys by 1.1% in the 4th quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company's stock worth $889,000 after buying an additional 20 shares in the last quarter. Hazlett Burt & Watson Inc. increased its position in Synopsys by 28.6% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock valued at $44,000 after acquiring an additional 20 shares during the period. Peninsula Wealth LLC raised its stake in Synopsys by 0.5% during the 4th quarter. Peninsula Wealth LLC now owns 4,224 shares of the semiconductor company's stock valued at $2,050,000 after acquiring an additional 20 shares in the last quarter. Finally, Williams Jones Wealth Management LLC. grew its stake in shares of Synopsys by 0.5% in the fourth quarter. Williams Jones Wealth Management LLC. now owns 4,650 shares of the semiconductor company's stock worth $2,257,000 after purchasing an additional 22 shares in the last quarter. Institutional investors own 85.47% of the company's stock.

Synopsys Trading Up 1.8%

Shares of SNPS stock traded up $9.10 during trading hours on Tuesday, reaching $521.78. 1,512,748 shares of the stock traded hands, compared to its average volume of 1,166,932. 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 firm has a market capitalization of $80.96 billion, a PE ratio of 37.67, a PEG ratio of 3.32 and a beta of 1.11. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $624.80. The business has a fifty day moving average price of $481.54 and a 200 day moving average price of $477.13.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its earnings results 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. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the prior year, the company earned $3.00 earnings per share. The company's revenue for the quarter was up 10.3% on a year-over-year basis. On average, equities research analysts forecast that Synopsys, Inc. will post 10.64 EPS for the current year.

Insider Activity

In related news, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer directly owned 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Richard S. Mahoney sold 9,010 shares of Synopsys 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 sale, the executive directly owned 1,485 shares of the company's stock, valued at $699,746.85. This trade represents a 85.85% decrease in their position. 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 90 days. Company insiders own 0.62% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on SNPS. Rosenblatt Securities reduced their price objective on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Mizuho reduced their price target on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Needham & Company LLC reiterated a "buy" rating and set a $650.00 price objective on shares of Synopsys in a research note on Thursday, May 29th. Bank of America cut their target price on Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Finally, Piper Sandler reissued an "overweight" rating and issued a $615.00 price objective (down previously from $653.00) on shares of Synopsys in a research note on Thursday, May 29th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $607.14.

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.