Envestnet Asset Management Inc. Has $105.76 Million Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Envestnet Asset Management Inc. increased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 41.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 246,615 shares of the semiconductor company's stock after purchasing an additional 72,521 shares during the period. Envestnet Asset Management Inc. owned 0.16% of Synopsys worth $105,761,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Synopsys during the 4th quarter worth about $583,608,000. GAMMA Investing LLC increased its position in shares of Synopsys by 54,286.0% in the first quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company's stock worth $513,116,000 after acquiring an additional 1,194,292 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Synopsys by 21.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock valued at $2,864,933,000 after acquiring an additional 1,045,326 shares during the period. Capital Research Global Investors acquired a new position in shares of Synopsys during the 4th quarter valued at $239,864,000. Finally, Ameriprise Financial Inc. boosted its position in Synopsys by 26.2% during the 4th quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock worth $916,441,000 after purchasing an additional 391,681 shares during the period. Institutional investors and hedge funds own 85.47% of the company's stock.

Synopsys Price Performance

Synopsys stock traded up $15.24 during trading hours on Thursday, hitting $566.19. 1,775,121 shares of the company traded hands, compared to its average volume of 1,185,705. The firm has a market cap of $87.85 billion, a P/E ratio of 40.88, a P/E/G ratio of 3.64 and a beta of 1.12. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $624.80. The firm's 50-day simple moving average is $495.39 and its two-hundred day simple moving average is $479.26.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the prior year, the firm posted $3.00 earnings per share. The company's revenue was up 10.3% on a year-over-year basis. As a group, analysts forecast that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Shelagh Glaser sold 7,310 shares of the business's stock in a transaction that occurred on 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 sale, the chief financial officer owned 15,291 shares in the company, valued at $7,427,144.52. The trade was a 32.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Richard S. Mahoney sold 9,010 shares of the business's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the sale, the executive directly owned 1,485 shares in the company, valued at approximately $699,746.85. This trade represents a 85.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,686 shares of company stock valued at $13,001,048 over the last three months. Insiders own 0.62% of the company's stock.

Wall Street Analysts Forecast Growth

SNPS has been the subject of a number of recent research reports. Piper Sandler reiterated an "overweight" rating and issued a $615.00 target price (down previously from $653.00) on shares of Synopsys in a research note on Thursday, May 29th. Rosenblatt Securities cut their target price on Synopsys from $660.00 to $625.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Bank of America cut their target price on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. The Goldman Sachs Group initiated coverage on Synopsys in a research note on Thursday. They issued a "buy" rating and a $620.00 price target for the company. Finally, Mizuho reduced their target price on Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $612.67.

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.