Capital Investment Services of America Inc. Increases Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Capital Investment Services of America Inc. raised its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 21.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,613 shares of the semiconductor company's stock after purchasing an additional 1,359 shares during the quarter. Capital Investment Services of America Inc.'s holdings in Synopsys were worth $3,265,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Ameriflex Group Inc. purchased a new stake in Synopsys in the 4th quarter valued at about $29,000. Whipplewood Advisors LLC purchased a new stake in shares of Synopsys in the fourth quarter valued at approximately $33,000. Pilgrim Partners Asia Pte Ltd bought a new position in Synopsys in the fourth quarter worth approximately $34,000. Sierra Ocean LLC purchased a new position in Synopsys during the 4th quarter worth $39,000. Finally, Hazlett Burt & Watson Inc. increased its holdings 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 purchasing an additional 20 shares during the period. Institutional investors own 85.47% of the company's stock.

Synopsys Trading Down 0.8%

SNPS stock traded down $4.01 during trading on Tuesday, reaching $475.40. 762,816 shares of the stock were exchanged, compared to its average volume of 1,157,745. The firm has a market capitalization of $73.76 billion, a price-to-earnings ratio of 32.74, a P/E/G ratio of 3.23 and a beta of 1.11. The business has a 50 day moving average price of $468.27 and a 200-day moving average price of $480.35. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80.

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 for the quarter, topping the consensus estimate of $3.40 by $0.27. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.60 billion. Synopsys had a return on equity of 20.48% and a net margin of 36.12%. The firm's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the business posted $3.00 earnings per share. On average, research analysts anticipate that Synopsys, Inc. will post 10.64 EPS for the current year.

Insiders Place Their Bets

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the business'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 transaction, the chief executive officer now owns 71,589 shares in the company, valued at $32,782,750.77. The trade was a 13.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Shelagh Glaser sold 7,310 shares of Synopsys stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $485.72, for a total value of $3,550,613.20. Following the sale, the chief financial officer now directly owns 15,291 shares of the company's stock, valued at $7,427,144.52. This trade represents a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SNPS. Mizuho dropped their price objective 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. Bank of America reduced their target price on Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Piper Sandler reaffirmed 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. KeyCorp set a $540.00 price objective on Synopsys in a research report on Tuesday, June 3rd. Finally, Wells Fargo & Company reduced their price target on Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, Synopsys presently has an average rating of "Moderate Buy" and a consensus price target of $607.14.

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.