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

Financial Counselors Inc. lifted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 5.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,225 shares of the semiconductor company's stock after acquiring an additional 1,736 shares during the quarter. Financial Counselors Inc.'s holdings in Synopsys were worth $14,677,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. YANKCOM Partnership boosted its holdings in shares of Synopsys by 9.7% in the first quarter. YANKCOM Partnership now owns 520 shares of the semiconductor company's stock valued at $223,000 after purchasing an additional 46 shares during the period. Callan Capital LLC purchased a new stake in shares of Synopsys in the first quarter valued at approximately $224,000. TD Private Client Wealth LLC boosted its holdings in shares of Synopsys by 10.9% in the first quarter. TD Private Client Wealth LLC now owns 2,344 shares of the semiconductor company's stock valued at $1,005,000 after purchasing an additional 230 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Synopsys by 41.7% in the first quarter. Envestnet Asset Management Inc. now owns 246,615 shares of the semiconductor company's stock valued at $105,761,000 after purchasing an additional 72,521 shares during the period. Finally, Penserra Capital Management LLC boosted its holdings in shares of Synopsys by 36.3% in the first quarter. Penserra Capital Management LLC now owns 33,827 shares of the semiconductor company's stock valued at $14,505,000 after purchasing an additional 9,017 shares during the period. Hedge funds and other institutional investors own 85.47% of the company's stock.

Synopsys Stock Up 2.8%

SNPS traded up $15.24 during trading on Thursday, hitting $566.19. The stock had a trading volume of 1,775,119 shares, compared to its average volume of 1,185,705. The company has a market capitalization of $87.85 billion, a PE ratio of 40.88, a PEG ratio of 3.64 and a beta of 1.12. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $624.80. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02. The stock has a 50 day simple moving average of $495.39 and a two-hundred day simple moving average of $479.26.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.40 by $0.27. The business had revenue of $1.60 billion during 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%. The business's quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the company posted $3.00 earnings per share. On average, research analysts predict that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Insiders Place Their Bets

In other Synopsys news, CFO Shelagh Glaser sold 7,310 shares of the firm's stock in a transaction on Friday, June 6th. The shares were 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 of the company's stock, valued at approximately $7,427,144.52. This trade represents a 32.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the firm's 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 completion of the transaction, the chief executive officer directly owned 71,589 shares of the company's stock, valued at approximately $32,782,750.77. This represents a 13.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,686 shares of company stock valued at $13,001,048. Insiders own 0.62% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SNPS shares. Mizuho lowered their price target on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Bank of America dropped their price objective 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. Rosenblatt Securities dropped their price objective 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. Stifel Nicolaus set a $550.00 price objective on shares of Synopsys in a research note on Monday, April 28th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $650.00 price objective on shares of Synopsys in a research note on Thursday, May 29th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus 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.