Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. raised its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 6.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,769 shares of the semiconductor company's stock after purchasing an additional 719 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in Synopsys were worth $5,476,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SNPS. Ameriflex Group Inc. acquired a new position in shares of Synopsys in the 4th quarter valued at $29,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Synopsys in the 4th quarter valued at $34,000. Cloud Capital Management LLC acquired a new position in shares of Synopsys in the 1st quarter valued at $36,000. Hazlett Burt & Watson Inc. increased its position in shares of 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. Finally, Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Synopsys by 50.8% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 98 shares of the semiconductor company's stock valued at $48,000 after acquiring an additional 33 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on SNPS. Stifel Nicolaus set a $550.00 price target on shares of Synopsys in a report on Monday, April 28th. Rosenblatt Securities lowered their price target on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Bank of America lowered their price target on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. KeyCorp set a $540.00 price target on shares of Synopsys in a report on Tuesday, June 3rd. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $615.00 price target (down from $653.00) on shares of Synopsys in a report on Thursday, May 29th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $607.14.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the firm'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 transaction, the chief executive officer directly owned 71,589 shares of the company's stock, valued at approximately $32,782,750.77. This trade represents a 13.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Shelagh Glaser sold 7,310 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief financial officer directly owned 15,291 shares in the company, valued at $7,427,144.52. This represents a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,686 shares of company stock valued at $13,001,048. 0.62% of the stock is owned by corporate insiders.

Synopsys Price Performance

Shares of SNPS stock traded down $0.56 during mid-day trading on Wednesday, hitting $550.95. 839,880 shares of the stock were exchanged, compared to its average volume of 1,183,347. The firm has a fifty day moving average of $495.39 and a 200 day moving average of $479.26. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $624.80. The company has a market cap of $85.49 billion, a PE ratio of 39.78, a price-to-earnings-growth ratio of 3.64 and a beta of 1.12.

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

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.