Financial Counselors Inc. Increases Position in Synopsys, Inc. (NASDAQ:SNPS)

Financial Counselors Inc. boosted its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 5.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,225 shares of the semiconductor company's stock after acquiring an additional 1,736 shares during the period. Financial Counselors Inc.'s holdings in Synopsys were worth $14,677,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Synopsys by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company's stock valued at $7,029,360,000 after purchasing an additional 120,575 shares during the period. Capital World Investors increased its stake in Synopsys by 1.6% in the fourth quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company's stock valued at $3,533,526,000 after purchasing an additional 114,893 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Synopsys by 21.5% in the fourth 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 purchasing an additional 1,045,326 shares during the period. Geode Capital Management LLC increased its stake in shares of Synopsys by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company's stock worth $1,625,230,000 after acquiring an additional 75,298 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of Synopsys by 26.2% during the fourth quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock worth $916,441,000 after acquiring an additional 391,681 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Price Performance

Shares of NASDAQ SNPS traded down $1.98 on Wednesday, hitting $549.54. The company's stock had a trading volume of 386,577 shares, compared to its average volume of 1,178,764. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $624.80. The company has a market capitalization of $85.27 billion, a price-to-earnings ratio of 39.67, a price-to-earnings-growth ratio of 3.54 and a beta of 1.12. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85. The stock has a 50 day moving average of $493.55 and a 200-day moving average of $478.76.

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 (EPS) for the quarter, beating the consensus estimate of $3.40 by $0.27. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the firm earned $3.00 earnings per share. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, research analysts predict that Synopsys, Inc. will post 10.64 EPS for the current year.

Analyst Ratings Changes

SNPS has been the topic of a number of recent analyst reports. Rosenblatt Securities dropped their price target on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. Bank of America dropped their price target 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. Mizuho dropped their price target 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. Piper Sandler reiterated an "overweight" rating and set a $615.00 price target (down from $653.00) on shares of Synopsys in a research note on Thursday, May 29th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $650.00 price target on shares of Synopsys in a research note on Thursday, May 29th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, Synopsys presently has a consensus rating of "Moderate Buy" and a consensus target price of $607.14.

Insider Buying and Selling at Synopsys

In related news, CFO Shelagh Glaser sold 7,310 shares of the company'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 transaction, the chief financial officer owned 15,291 shares of the company's stock, valued at approximately $7,427,144.52. This represents a 32.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Richard S. Mahoney sold 9,010 shares of the company's stock in a transaction that occurred 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 transaction, the executive directly owned 1,485 shares in the company, valued at $699,746.85. The trade was a 85.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,686 shares of company stock valued at $13,001,048 over the last quarter. Corporate insiders own 0.62% of the company's stock.

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.