650 Shares in Synopsys, Inc. (NASDAQ:SNPS) Bought by Credit Capital Investments LLC

Key Points

• Credit Capital Investments LLC acquired 650 shares of Synopsys, Inc. valued at approximately $279,000, making it the firm's 21st largest holding.
• Synopsys reported a 10.3% increase in revenue year-over-year, with an earnings per share of $3.67 for the last quarter, exceeding analyst expectations.
• Insider trading activity saw significant sell-offs, with the CRO and CFO both reducing their positions by over 30%, highlighting potential concerns among insiders regarding stock performance.

Credit Capital Investments LLC acquired a new stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 650 shares of the semiconductor company's stock, valued at approximately $279,000. Synopsys accounts for 0.5% of Credit Capital Investments LLC's portfolio, making the stock its 21st largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of SNPS. Cornerstone Planning Group LLC raised its holdings in Synopsys by 275.0% in the first quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 44 shares in the last quarter. Ameriflex Group Inc. purchased a new position in Synopsys in the fourth quarter worth about $29,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Synopsys in the fourth quarter worth about $34,000. Cloud Capital Management LLC bought a new position in shares of Synopsys in the first quarter worth about $36,000. Finally, Meeder Asset Management Inc. raised its stake in shares of Synopsys by 33.3% in the first quarter. Meeder Asset Management Inc. now owns 104 shares of the semiconductor company's stock worth $45,000 after buying an additional 26 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 71,589 shares in the company, valued at approximately $32,782,750.77. This trade represents a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Shelagh Glaser sold 7,310 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief financial officer directly 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 three months, insiders sold 27,686 shares of company stock worth $13,001,048. Corporate insiders own 0.62% of the company's stock.

Synopsys Price Performance

SNPS stock traded down $7.52 on Tuesday, reaching $628.50. The company had a trading volume of 1,032,082 shares, compared to its average volume of 2,496,804. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $651.73. 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 fifty day moving average is $534.72 and its 200 day moving average is $492.91. The company has a market cap of $97.52 billion, a P/E ratio of 45.38, a PEG ratio of 4.21 and a beta of 1.15.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share 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 analyst estimates of $1.60 billion. During the same period last year, the company posted $3.00 EPS. The business's quarterly revenue was up 10.3% on a year-over-year basis. On average, research analysts forecast that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SNPS. Piper Sandler lifted their target price on Synopsys from $615.00 to $660.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Rosenblatt Securities lifted their target price on Synopsys from $625.00 to $650.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Stifel Nicolaus set a $550.00 price objective on Synopsys in a report on Monday, April 28th. Needham & Company LLC reaffirmed a "buy" rating and set a $660.00 target price (up from $650.00) on shares of Synopsys in a research report on Tuesday, July 15th. Finally, Bank of America boosted their price target on Synopsys from $575.00 to $625.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $622.33.

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.