Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC increased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 64.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,495 shares of the semiconductor company's stock after purchasing an additional 587 shares during the period. Concurrent Investment Advisors LLC's holdings in Synopsys were worth $641,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SNPS. Advisors Capital Management LLC increased its position in Synopsys by 2.3% during the 4th quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company's stock worth $408,000 after purchasing an additional 19 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its stake in shares of 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. Peninsula Wealth LLC grew its holdings in shares of Synopsys by 0.5% during the fourth quarter. Peninsula Wealth LLC now owns 4,224 shares of the semiconductor company's stock worth $2,050,000 after buying an additional 20 shares in the last quarter. Williams Jones Wealth Management LLC. raised its position in shares of Synopsys by 0.5% in the fourth quarter. Williams Jones Wealth Management LLC. now owns 4,650 shares of the semiconductor company's stock valued at $2,257,000 after buying an additional 22 shares during the last quarter. Finally, Ashton Thomas Securities LLC lifted its stake in shares of Synopsys by 1.2% during the fourth quarter. Ashton Thomas Securities LLC now owns 1,866 shares of the semiconductor company's stock valued at $906,000 after buying an additional 23 shares during the period. Hedge funds and other institutional investors own 85.47% of the company's stock.

Insider Activity at Synopsys

In related news, CRO Richard S. Mahoney sold 9,010 shares of the stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total value of $4,245,602.10. Following the completion of the transaction, the executive owned 1,485 shares of the company's stock, valued at approximately $699,746.85. This represents a 85.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys 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 in the company, valued at $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. In the last three months, insiders sold 27,686 shares of company stock valued at $13,001,048. Corporate insiders own 0.62% of the company's stock.

Synopsys Stock Up 2.8%

Synopsys stock traded up $15.24 during trading on Thursday, reaching $566.19. 1,775,121 shares of the company's stock were exchanged, compared to its average volume of 1,185,705. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $624.80. The firm has a market cap of $87.85 billion, a price-to-earnings ratio of 40.88, a PEG ratio of 3.64 and a beta of 1.12. 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 company's 50-day moving average is $495.39 and its two-hundred day moving average is $479.26.

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, beating analysts' consensus estimates of $3.40 by $0.27. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.60 billion. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $3.00 earnings per share. On average, analysts predict that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on SNPS. KeyCorp boosted their price target on Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a report on Thursday. Rosenblatt Securities dropped their target price on Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Piper Sandler reissued 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. Stifel Nicolaus set a $550.00 price target on Synopsys in a report on Monday, April 28th. Finally, The Goldman Sachs Group began coverage on shares of Synopsys in a report on Thursday. They set a "buy" rating and a $620.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $612.67.

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.