China Universal Asset Management Co. Ltd. Purchases 719 Shares of Synopsys, Inc. (NASDAQ:SNPS)

China Universal Asset Management Co. Ltd. increased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 6.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,769 shares of the semiconductor company's stock after buying 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.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ameriflex Group Inc. acquired a new position in Synopsys during the 4th quarter worth about $29,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Synopsys during the 4th quarter worth about $34,000. Cloud Capital Management LLC bought a new stake in Synopsys during the 1st quarter worth about $36,000. Hazlett Burt & Watson Inc. raised 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 last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC raised its holdings in Synopsys by 50.8% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 98 shares of the semiconductor company's stock worth $48,000 after purchasing an additional 33 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SNPS. KeyCorp boosted their price objective on Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a report on Thursday. Needham & Company LLC reaffirmed a "buy" rating and issued a $650.00 price target on shares of Synopsys in a research note on Thursday, May 29th. Piper Sandler reaffirmed an "overweight" rating and issued a $615.00 price target (down from $653.00) on shares of Synopsys in a research note on Thursday, May 29th. Mizuho lowered their price target on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Finally, The Goldman Sachs Group began coverage on Synopsys in a research note on Thursday. They set a "buy" rating and a $620.00 target price for the company. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Synopsys currently has an average rating of "Moderate Buy" and an average target price of $612.67.

Synopsys Stock Up 2.8%

Shares of NASDAQ SNPS traded up $15.24 during trading hours on Thursday, hitting $566.19. The company had a trading volume of 1,775,121 shares, compared to its average volume of 1,185,705. The stock has a market capitalization of $87.85 billion, a P/E ratio of 40.88, a price-to-earnings-growth ratio of 3.64 and a beta of 1.12. 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 1-year low of $365.74 and a 1-year high of $624.80. The firm's 50 day moving average is $495.39 and its 200-day moving average is $479.26.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced 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. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the firm posted $3.00 EPS. The company's quarterly revenue was up 10.3% on a year-over-year basis. On average, analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Insider Activity at Synopsys

In related news, CFO Shelagh Glaser sold 7,310 shares of the business's 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 completion of the transaction, the chief financial officer owned 15,291 shares of the company's stock, valued at $7,427,144.52. The trade was a 32.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the business'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 completion of 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 disclosure for this sale can be found here. Insiders sold a total of 27,686 shares of company stock valued at $13,001,048 over the last quarter. 0.62% of the stock is owned by corporate insiders.

Synopsys 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.