Dynamic Advisor Solutions LLC Acquires New Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Dynamic Advisor Solutions LLC acquired a new position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,332 shares of the semiconductor company's stock, valued at approximately $1,000,000.

A number of other hedge funds have also recently made changes to their positions in SNPS. Ameriflex Group Inc. purchased a new position in shares of Synopsys in the fourth quarter valued at approximately $29,000. Whipplewood Advisors LLC acquired a new stake in Synopsys during the 4th quarter worth approximately $33,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Synopsys in the 4th quarter valued at approximately $34,000. Sierra Ocean LLC acquired a new position in shares of Synopsys in the fourth quarter worth $39,000. Finally, Hazlett Burt & Watson Inc. increased its position in shares of Synopsys by 28.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after acquiring an additional 20 shares during the period. Hedge funds and other institutional investors own 85.47% of the company's stock.

Synopsys Stock Performance

Shares of Synopsys stock traded down $1.78 during trading on Wednesday, reaching $473.62. The company's stock had a trading volume of 1,040,433 shares, compared to its average volume of 1,157,097. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $624.80. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. The company has a 50-day moving average price of $469.20 and a two-hundred day moving average price of $480.32. The firm has a market cap of $73.49 billion, a PE ratio of 34.20, a P/E/G ratio of 3.17 and a beta of 1.11.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, beating analysts' consensus estimates of $3.40 by $0.27. The firm had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.60 billion. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. Synopsys's revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $3.00 earnings per share. On average, analysts forecast that Synopsys, Inc. will post 10.64 EPS for the current year.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of recent research reports. Mizuho cut their target price on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. KeyCorp set a $540.00 price target on Synopsys in a research note on Tuesday, June 3rd. Needham & Company LLC reaffirmed a "buy" rating and set a $650.00 price objective on shares of Synopsys in a research report on Thursday, May 29th. Piper Sandler reissued an "overweight" rating and set a $615.00 target price (down previously from $653.00) on shares of Synopsys in a research report on Thursday, May 29th. Finally, Rosenblatt Securities decreased their target price on Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $607.14.

Insiders Place Their Bets

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the sale, the chief executive officer now owns 71,589 shares of the company's stock, valued at $32,782,750.77. The trade was a 13.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Shelagh Glaser sold 7,310 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the transaction, the chief financial officer now owns 15,291 shares of the company's stock, valued at approximately $7,427,144.52. This trade represents a 32.34% decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is owned by company insiders.

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.