Earnest Partners LLC Purchases 1,467 Shares of Synopsys, Inc. $SNPS

Key Points

• Earnest Partners LLC increased its stake in Synopsys, Inc. (SNPS) by 0.5% in Q1, owning approximately $129.47 million worth of shares after acquiring an additional 1,467 shares.
• In the fourth quarter, several institutional investors, including Brighton Jones LLC and Northern Trust Corp, also increased their positions in Synopsys, contributing to the 85.47% of stock owned by institutional investors.
• Synopsys reported a 10.3% year-over-year increase in revenue for the last quarter, with an EPS of $3.67, surpassing analyst estimates of $3.40.

Earnest Partners LLC grew its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 0.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 301,903 shares of the semiconductor company's stock after buying an additional 1,467 shares during the period. Earnest Partners LLC owned 0.20% of Synopsys worth $129,471,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SNPS. Williams Jones Wealth Management LLC. boosted its stake in Synopsys by 0.5% in the fourth quarter. Williams Jones Wealth Management LLC. now owns 4,650 shares of the semiconductor company's stock worth $2,257,000 after buying an additional 22 shares in the last quarter. Hardy Reed LLC boosted its stake in Synopsys by 0.7% in the first quarter. Hardy Reed LLC now owns 3,290 shares of the semiconductor company's stock worth $1,411,000 after buying an additional 22 shares in the last quarter. Resurgent Financial Advisors LLC boosted its stake in Synopsys by 2.7% in the first quarter. Resurgent Financial Advisors LLC now owns 832 shares of the semiconductor company's stock worth $357,000 after buying an additional 22 shares in the last quarter. Trust Asset Management LLC boosted its stake in Synopsys by 1.3% in the first quarter. Trust Asset Management LLC now owns 1,766 shares of the semiconductor company's stock worth $757,000 after buying an additional 22 shares in the last quarter. Finally, Harbour Investments Inc. boosted its stake in Synopsys by 10.8% in the first quarter. Harbour Investments Inc. now owns 235 shares of the semiconductor company's stock worth $101,000 after buying an additional 23 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Trading Down 1.4%

SNPS stock traded down $8.65 on Friday, reaching $603.52. The company's stock had a trading volume of 992,830 shares, compared to its average volume of 1,049,484. The business has a fifty day simple moving average of $583.07 and a two-hundred day simple moving average of $503.46. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $651.73. The firm has a market cap of $93.64 billion, a PE ratio of 43.58, a PEG ratio of 4.02 and a beta of 1.15. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Needham & Company LLC reissued a "buy" rating and set a $660.00 price objective (up previously from $650.00) on shares of Synopsys in a research note on Tuesday, July 15th. The Goldman Sachs Group assumed coverage on Synopsys in a research note on Thursday, July 10th. They set a "buy" rating and a $620.00 price objective for the company. Morgan Stanley reissued an "overweight" rating and set a $715.00 price objective (up previously from $540.00) on shares of Synopsys in a research note on Monday, August 11th. Rosenblatt Securities increased their price objective on Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, Bank of America increased their price objective on Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $634.64.

Insiders Place Their Bets

In other Synopsys 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 value of $3,550,613.20. Following the completion of the transaction, the chief financial officer owned 15,291 shares in the company, valued at approximately $7,427,144.52. This represents a 32.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Richard S. Mahoney sold 9,010 shares of the stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total value of $4,245,602.10. Following the completion of the transaction, the executive owned 1,485 shares of the company's stock, valued at approximately $699,746.85. This trade represents a 85.85% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,686 shares of company stock worth $13,001,048. 0.62% of the stock is owned by corporate 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.