Fairtree Asset Management Pty Ltd Purchases New Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Fairtree Asset Management Pty Ltd acquired a new position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,882 shares of the semiconductor company's stock, valued at approximately $913,000. Synopsys makes up 0.9% of Fairtree Asset Management Pty Ltd's portfolio, making the stock its 25th biggest holding.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fiera Capital Corp grew its holdings in shares of Synopsys by 33.8% in the 4th quarter. Fiera Capital Corp now owns 196,391 shares of the semiconductor company's stock worth $95,320,000 after acquiring an additional 49,653 shares during the period. Bancreek Capital Management LP acquired a new stake in Synopsys in the fourth quarter valued at $3,827,000. Meridiem Investment Management Ltd. increased its position in shares of Synopsys by 13.1% in the fourth quarter. Meridiem Investment Management Ltd. now owns 557,174 shares of the semiconductor company's stock valued at $270,322,000 after buying an additional 64,322 shares in the last quarter. Symphony Financial Ltd. Co. increased its position in shares of Synopsys by 156.4% in the fourth quarter. Symphony Financial Ltd. Co. now owns 1,059 shares of the semiconductor company's stock valued at $569,000 after buying an additional 646 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its stake in shares of Synopsys by 13.7% during the 4th quarter. Hantz Financial Services Inc. now owns 5,320 shares of the semiconductor company's stock worth $2,582,000 after buying an additional 643 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SNPS. Needham & Company LLC restated a "buy" rating and set a $650.00 target price on shares of Synopsys in a report on Thursday. Bank of America lowered their price target on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Morgan Stanley cut their price objective on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research report on Monday, February 24th. Stifel Nicolaus set a $550.00 target price on Synopsys in a report on Monday, April 28th. Finally, KeyCorp set a $575.00 price target on Synopsys and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $609.64.

Synopsys Stock Up 1.1%

Shares of NASDAQ:SNPS traded up $5.09 during midday trading on Friday, reaching $460.08. The company's stock had a trading volume of 3,356,054 shares, compared to its average volume of 1,140,593. The firm has a market cap of $71.39 billion, a price-to-earnings ratio of 31.69, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16. The business has a 50 day moving average price of $453.46 and a 200 day moving average price of $485.58. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80.

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

Insider Activity at Synopsys

In related news, insider Geus Aart De sold 15,705 shares of Synopsys stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the transaction, the chief executive officer now owns 70,922 shares in the company, valued at approximately $32,890,077.50. This trade represents a 13.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is owned by insiders.

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.