Cerity Partners LLC Has $22.37 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

Cerity Partners LLC boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 8.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,168 shares of the semiconductor company's stock after buying an additional 4,240 shares during the period. Cerity Partners LLC's holdings in Synopsys were worth $22,372,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SNPS. Dynamic Advisor Solutions LLC bought a new stake in Synopsys during the first quarter worth $1,000,000. Bancreek Capital Management LP bought a new stake in shares of Synopsys in the 4th quarter worth $3,827,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Synopsys by 3.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 20,172 shares of the semiconductor company's stock valued at $8,651,000 after purchasing an additional 655 shares during the last quarter. Integrated Advisors Network LLC raised its holdings in shares of Synopsys by 8.0% in the first quarter. Integrated Advisors Network LLC now owns 529 shares of the semiconductor company's stock valued at $227,000 after purchasing an additional 39 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of Synopsys by 8.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,748 shares of the semiconductor company's stock valued at $2,894,000 after purchasing an additional 550 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Synopsys Trading Down 1.2%

Shares of Synopsys stock opened at $559.28 on Friday. The stock has a market capitalization of $86.78 billion, a P/E ratio of 40.38, a P/E/G ratio of 3.69 and a beta of 1.12. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $621.24. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02. The stock's 50-day simple moving average is $499.27 and its 200 day simple moving average is $480.04.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.40 by $0.27. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the firm posted $3.00 earnings per share. As a group, research analysts anticipate that Synopsys, Inc. will post 10.64 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports 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 research report on Thursday, May 29th. The Goldman Sachs Group began coverage on Synopsys in a report on Thursday. They issued a "buy" rating and a $620.00 target price for the company. Needham & Company LLC reiterated a "buy" rating and set a $650.00 price target on shares of Synopsys in a report on Thursday, May 29th. 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 report on Thursday, May 29th. Finally, KeyCorp raised their target price on Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $612.67.

Insiders Place Their Bets

In other Synopsys news, CRO Richard S. Mahoney sold 9,010 shares of Synopsys stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $457.93, for a total value of $5,204,832.38. Following the sale, the chief executive officer owned 71,589 shares in the company, valued at approximately $32,782,750.77. This represents a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,686 shares of company stock worth $13,001,048 over the last 90 days. Corporate 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.

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