Synopsys, Inc. (NASDAQ:SNPS) Stake Boosted by Dohj LLC

Dohj LLC increased its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 165.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,236 shares of the semiconductor company's stock after acquiring an additional 2,641 shares during the quarter. Dohj LLC's holdings in Synopsys were worth $1,817,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new position in Synopsys in the first quarter worth about $126,000. Capital Investment Services of America Inc. increased its position in shares of Synopsys by 21.7% during the 1st quarter. Capital Investment Services of America Inc. now owns 7,613 shares of the semiconductor company's stock valued at $3,265,000 after purchasing an additional 1,359 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Synopsys by 3.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 20,172 shares of the semiconductor company's stock valued at $8,651,000 after acquiring an additional 655 shares during the period. Stock Yards Bank & Trust Co. boosted its holdings in Synopsys by 52.2% during the 1st quarter. Stock Yards Bank & Trust Co. now owns 2,226 shares of the semiconductor company's stock valued at $955,000 after acquiring an additional 763 shares during the period. Finally, Azzad Asset Management Inc. ADV purchased a new position in Synopsys during the 1st quarter valued at $2,116,000. Institutional investors own 85.47% of the company's stock.

Analyst Ratings Changes

SNPS has been the subject of several research reports. Bank of America lowered their target price on Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Piper Sandler reaffirmed an "overweight" rating and set a $615.00 target price (down from $653.00) on shares of Synopsys in a research report on Thursday, May 29th. Rosenblatt Securities cut their price objective on Synopsys from $660.00 to $625.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Wells Fargo & Company cut their price objective on Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a report on Thursday, February 27th. Finally, Stifel Nicolaus set a $550.00 target price on Synopsys in a report on Monday, April 28th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $607.14.

Insider Activity

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $457.93, for a total value of $5,204,832.38. Following the transaction, the chief executive officer now owns 71,589 shares of the company's stock, valued at $32,782,750.77. This trade represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 now directly owns 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. Insiders own 0.62% of the company's stock.

Synopsys Stock Performance

SNPS stock traded down $16.13 on Friday, reaching $478.86. The company had a trading volume of 1,162,459 shares, compared to its average volume of 1,158,402. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80. The company's fifty day moving average is $466.31 and its 200 day moving average is $481.37. The company has a market cap of $74.30 billion, a P/E ratio of 32.98, a PEG ratio of 3.23 and a beta of 1.11.

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