Corient IA LLC Acquires Shares of 879 Synopsys, Inc. $SNPS

Key Points

• Corient IA LLC has acquired 879 shares of Synopsys, Inc. valued at approximately $377,000, indicating increasing interest from institutional investors.
• Synopsys reported strong earnings with $3.67 EPS for the last quarter, surpassing estimates and showing a 10.3% revenue growth year-over-year.
• Multiple analysts have recently issued upgrades for Synopsys, raising their price target, with a consensus average of $630.67 suggesting optimism about the company's future performance.

Corient IA LLC acquired a new stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 879 shares of the semiconductor company's stock, valued at approximately $377,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNPS. Williams Jones Wealth Management LLC. raised its stake in shares of Synopsys by 0.5% during the fourth quarter. Williams Jones Wealth Management LLC. now owns 4,650 shares of the semiconductor company's stock worth $2,257,000 after purchasing an additional 22 shares during the last quarter. Hardy Reed LLC raised its stake in shares of Synopsys by 0.7% during the first quarter. Hardy Reed LLC now owns 3,290 shares of the semiconductor company's stock worth $1,411,000 after purchasing an additional 22 shares during the last quarter. Resurgent Financial Advisors LLC raised its stake in shares of Synopsys by 2.7% during the first quarter. Resurgent Financial Advisors LLC now owns 832 shares of the semiconductor company's stock worth $357,000 after purchasing an additional 22 shares during the last quarter. Trust Asset Management LLC raised its stake in shares of Synopsys by 1.3% during the first quarter. Trust Asset Management LLC now owns 1,766 shares of the semiconductor company's stock worth $757,000 after purchasing an additional 22 shares during the last quarter. Finally, Harbour Investments Inc. raised its stake in shares of Synopsys by 10.8% during the first quarter. Harbour Investments Inc. now owns 235 shares of the semiconductor company's stock worth $101,000 after purchasing an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

Synopsys Stock Up 0.3%

Synopsys stock opened at $617.91 on Monday. 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 firm has a market capitalization of $95.87 billion, a price-to-earnings ratio of 44.61, a price-to-earnings-growth ratio of 4.09 and a beta of 1.15. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $651.73. The stock's fifty day moving average is $558.90 and its two-hundred day moving average is $497.65.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share 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 return on equity of 17.09% and a net margin of 34.77%. Synopsys's revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.00 earnings per share. Analysts predict that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SNPS shares. The Goldman Sachs Group started coverage on Synopsys in a research note on Thursday, July 10th. They set a "buy" rating and a $620.00 price target for the company. Bank of America upped their price target on Synopsys from $575.00 to $625.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Stifel Nicolaus set a $550.00 price target on Synopsys in a research note on Monday, April 28th. Piper Sandler upped their price target on Synopsys from $615.00 to $660.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $660.00 price objective (up previously from $650.00) on shares of Synopsys in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $630.67.

Insider Activity at Synopsys

In related news, CFO Shelagh Glaser sold 7,310 shares of the 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 sale, the chief financial officer owned 15,291 shares of the company's stock, valued at $7,427,144.52. This trade represents a 32.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Richard S. Mahoney sold 9,010 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total value of $4,245,602.10. Following the sale, the executive directly owned 1,485 shares in the company, valued at approximately $699,746.85. The trade was a 85.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,686 shares of company stock valued at $13,001,048 over the last quarter. Insiders own 0.62% of the company's stock.

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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