Compound Global Advisors LLC Buys Shares of 1,100 Synopsys, Inc. (NASDAQ:SNPS)

Compound Global Advisors LLC bought a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,100 shares of the semiconductor company's stock, valued at approximately $472,000. Synopsys accounts for about 2.8% of Compound Global Advisors LLC's portfolio, making the stock its 13th largest position.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Synopsys by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company's stock valued at $7,029,360,000 after buying an additional 120,575 shares in the last quarter. Capital World Investors lifted its stake in shares of Synopsys by 1.6% in the fourth quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company's stock worth $3,533,526,000 after buying an additional 114,893 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Synopsys by 21.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock worth $2,864,933,000 after acquiring an additional 1,045,326 shares during the last quarter. Geode Capital Management LLC grew its stake in Synopsys by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company's stock valued at $1,625,230,000 after acquiring an additional 75,298 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Synopsys by 26.2% in the 4th quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock valued at $916,441,000 after acquiring an additional 391,681 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SNPS. Rosenblatt Securities lowered their target price on Synopsys from $660.00 to $625.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Mizuho lowered their price objective on 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 dropped their target price on Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Piper Sandler reissued an "overweight" rating and set a $615.00 price target (down previously from $653.00) on shares of Synopsys in a research report on Thursday, May 29th. Finally, Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a report on Monday, April 28th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $607.14.

Insider Buying and Selling at Synopsys

In related news, CRO Richard S. Mahoney sold 9,010 shares of the firm's stock in a transaction that occurred on 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 transaction, the executive owned 1,485 shares in the company, valued at $699,746.85. This trade represents a 85.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was 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 of the company's stock, valued at $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 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.

Synopsys Stock Up 4.5%

NASDAQ SNPS traded up $23.65 during trading on Thursday, reaching $546.76. 2,020,024 shares of the company's stock were exchanged, compared to its average volume of 1,177,053. The company has a 50 day moving average price of $487.88 and a two-hundred day moving average price of $477.92. The stock has a market cap of $84.83 billion, a P/E ratio of 39.48, a price-to-earnings-growth ratio of 3.45 and a beta of 1.12. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 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 firm's revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the firm posted $3.00 earnings per share. On average, equities research analysts anticipate that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

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.