Cookson Peirce & Co. Inc. Purchases New Shares in Synopsys, Inc. (NASDAQ:SNPS)

Key Points

• Cookson Peirce & Co. Inc. acquired a stake in Synopsys, Inc. (NASDAQ:SNPS) by purchasing 5,947 shares valued at approximately $2,550,000 during the first quarter.
• Analysts have raised their price targets for Synopsys shares, with Morgan Stanley setting a new price objective of $715.00, reflecting an increase from previous estimates.
• Insider trading revealed significant sales, with CRO Richard S. Mahoney and CFO Shelagh Glaser selling 9,010 and 7,310 shares, respectively, indicating an 85.85% and 32.34% decrease in their company ownership.

Cookson Peirce & Co. Inc. purchased a new stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 5,947 shares of the semiconductor company's stock, valued at approximately $2,550,000.

Other large investors have also added to or reduced their stakes in the company. North Star Asset Management Inc. boosted its holdings in Synopsys by 3.6% in the first quarter. North Star Asset Management Inc. now owns 60,270 shares of the semiconductor company's stock valued at $25,847,000 after acquiring an additional 2,082 shares in the last quarter. SlateStone Wealth LLC lifted its position in Synopsys by 467.8% during the first quarter. SlateStone Wealth LLC now owns 10,220 shares of the semiconductor company's stock valued at $4,383,000 after buying an additional 8,420 shares during the period. Dynamic Advisor Solutions LLC purchased a new position in Synopsys during the first quarter valued at $1,000,000. Wealth Enhancement Advisory Services LLC lifted its position in Synopsys by 3.4% during 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 buying an additional 655 shares during the period. Finally, Banque Cantonale Vaudoise purchased a new position in Synopsys during the first quarter valued at $3,116,000. Institutional investors own 85.47% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on SNPS shares. Morgan Stanley reissued an "overweight" rating and set a $715.00 price objective (up previously from $540.00) on shares of Synopsys in a research report on Monday. KeyCorp raised their price objective on Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Rosenblatt Securities raised their price objective on Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Needham & Company LLC reissued a "buy" rating and set a $660.00 price objective (up previously from $650.00) on shares of Synopsys in a research report on Tuesday, July 15th. Finally, Piper Sandler raised their price objective on Synopsys from $615.00 to $660.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $630.67.

Insider Buying and Selling

In other Synopsys news, CRO Richard S. Mahoney sold 9,010 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the completion of the sale, the executive directly 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Shelagh Glaser sold 7,310 shares of Synopsys stock in a transaction on Friday, June 6th. The stock was sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the transaction, the chief financial officer owned 15,291 shares in the company, valued at $7,427,144.52. This represents a 32.34% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,686 shares of company stock valued at $13,001,048. 0.62% of the stock is owned by insiders.

Synopsys Stock Performance

Shares of SNPS opened at $618.57 on Thursday. The firm has a market capitalization of $95.98 billion, a P/E ratio of 44.66, a PEG ratio of 4.14 and a beta of 1.15. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85. Synopsys, Inc. has a one year low of $365.74 and a one year high of $651.73. The business has a fifty day moving average of $553.58 and a 200 day moving average of $496.59.

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

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.

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