Gradient Investments LLC Has $13.73 Million Stake in Synopsys, Inc. (NASDAQ:SNPS)

Gradient Investments LLC raised its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 27.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,022 shares of the semiconductor company's stock after purchasing an additional 6,865 shares during the period. Gradient Investments LLC's holdings in Synopsys were worth $13,733,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SNPS. Fiera Capital Corp grew its stake in shares of Synopsys by 33.8% in the fourth quarter. Fiera Capital Corp now owns 196,391 shares of the semiconductor company's stock valued at $95,320,000 after acquiring an additional 49,653 shares in the last quarter. Bancreek Capital Management LP acquired a new position in shares of Synopsys in the fourth quarter valued at about $3,827,000. Meridiem Investment Management Ltd. grew its stake 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 acquiring an additional 64,322 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Synopsys by 7.6% in the fourth quarter. CIBC Asset Management Inc now owns 74,789 shares of the semiconductor company's stock valued at $36,300,000 after acquiring an additional 5,253 shares in the last quarter. Finally, Davidson Capital Management Inc. grew its stake in shares of Synopsys by 23.7% in the fourth quarter. Davidson Capital Management Inc. now owns 5,874 shares of the semiconductor company's stock valued at $2,851,000 after acquiring an additional 1,124 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SNPS shares. Needham & Company LLC restated a "buy" rating and issued a $650.00 price target on shares of Synopsys in a research note on Thursday, May 29th. Rosenblatt Securities reduced 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. Wells Fargo & Company reduced their price objective on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 27th. Morgan Stanley reduced their price objective on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. Finally, Bank of America reduced 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. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Synopsys presently has a consensus rating of "Moderate Buy" and a consensus price target of $609.64.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $457.93, for a total value of $5,204,832.38. Following the completion of the transaction, the chief executive officer now owns 71,589 shares in the company, valued at $32,782,750.77. This trade represents a 13.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.62% of the stock is owned by company insiders.

Synopsys Stock Performance

Shares of SNPS traded up $12.64 during mid-day trading on Thursday, reaching $485.83. The company had a trading volume of 837,654 shares, compared to its average volume of 1,141,921. The company's 50 day simple moving average is $454.89 and its 200 day simple moving average is $484.55. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $624.80. The company has a market capitalization of $75.38 billion, a price-to-earnings ratio of 33.46, a P/E/G ratio of 3.23 and a beta of 1.16.

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 for the quarter, beating analysts' consensus estimates of $3.40 by $0.27. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.60 billion. Synopsys had a net margin of 36.12% and a return on equity of 20.48%. The firm's quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the company posted $3.00 EPS. As a group, equities analysts forecast that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

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.