Cullen Investment Group LTD. Makes New $719,000 Investment in Synopsys, Inc. (NASDAQ:SNPS)

Cullen Investment Group LTD. acquired a new position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,676 shares of the semiconductor company's stock, valued at approximately $719,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Advisors Capital Management LLC lifted its position in shares of Synopsys by 2.3% during the 4th quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company's stock valued at $408,000 after buying an additional 19 shares in the last quarter. Caprock Group LLC lifted its holdings in Synopsys by 0.5% during the fourth quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company's stock valued at $1,803,000 after purchasing an additional 20 shares in the last quarter. Compagnie Lombard Odier SCmA lifted its stake in shares of Synopsys by 1.1% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company's stock valued at $898,000 after buying an additional 20 shares in the last quarter. Edge Capital Group LLC lifted its stake in shares of Synopsys by 1.2% during the 4th quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company's stock valued at $791,000 after buying an additional 20 shares in the last quarter. Finally, Barden Capital Management Inc. lifted its stake in shares of Synopsys by 1.1% during the 4th quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company's stock valued at $889,000 after buying an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Piper Sandler restated an "overweight" rating and issued a $615.00 price objective (down from $653.00) on shares of Synopsys in a research report on Thursday. KeyCorp set a $575.00 target price on shares of Synopsys and gave the stock an "overweight" rating in a report on Tuesday, May 20th. Needham & Company LLC reiterated a "buy" rating and issued a $650.00 price target on shares of Synopsys in a research note on Thursday. Morgan Stanley decreased their price target on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. Finally, Rosenblatt Securities decreased their price target on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating on the stock in a research note on Thursday. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Synopsys presently has a consensus rating of "Moderate Buy" and a consensus price target of $609.64.

Synopsys Trading Up 1.1%

NASDAQ:SNPS traded up $5.09 during midday trading on Friday, hitting $460.08. 3,356,054 shares of the company traded hands, compared to its average volume of 1,140,593. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $624.80. The firm has a market capitalization of $71.14 billion, a P/E ratio of 31.69, a P/E/G ratio of 3.23 and a beta of 1.16. The firm's fifty day moving average is $453.46 and its 200-day moving average is $486.08.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, topping analysts' consensus estimates of $3.40 by $0.27. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.60 billion. Synopsys had a return on equity of 20.48% and a net margin of 36.12%. The business's revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted $3.00 earnings per share. On average, research analysts expect that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Geus Aart De sold 15,705 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the transaction, the insider now owns 116,671 shares in the company, valued at approximately $51,850,925.82. This trade represents a 11.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the transaction, the chief executive officer now directly owns 70,922 shares in the company, valued at $32,890,077.50. This trade represents a 13.81% decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by company insiders.

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.