Synopsys, Inc. $SNPS Shares Acquired by Guggenheim Capital LLC

Key Points

• Guggenheim Capital LLC increased its ownership in Synopsys, Inc. by 8.1%, acquiring an additional 6,843 shares, bringing its total holdings to 91,019 shares valued at approximately $39 million.
• Several institutional investors, including CreativeOne Wealth LLC and FORA Capital LLC, have also significantly raised their positions in Synopsys, indicating strong institutional interest in the semiconductor company.
• Synopsys recently reported earnings of $3.67 per share, exceeding analysts' estimates, with a year-over-year revenue increase of 10.3% and an average target price among analysts set at $626.79.

Guggenheim Capital LLC lifted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 8.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 91,019 shares of the semiconductor company's stock after acquiring an additional 6,843 shares during the period. Guggenheim Capital LLC owned approximately 0.06% of Synopsys worth $39,033,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SNPS. Brighton Jones LLC grew its stake in shares of Synopsys by 5.7% during the fourth quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company's stock worth $447,000 after acquiring an additional 50 shares during the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in shares of Synopsys during the fourth quarter worth about $1,518,000. The Manufacturers Life Insurance Company grew its stake in shares of Synopsys by 1.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 133,678 shares of the semiconductor company's stock worth $64,884,000 after acquiring an additional 2,117 shares during the last quarter. Northern Trust Corp boosted its position in Synopsys by 14.6% in the fourth quarter. Northern Trust Corp now owns 1,639,587 shares of the semiconductor company's stock valued at $795,790,000 after buying an additional 209,031 shares during the last quarter. Finally, Lido Advisors LLC boosted its position in Synopsys by 26.9% in the fourth quarter. Lido Advisors LLC now owns 4,093 shares of the semiconductor company's stock valued at $1,986,000 after buying an additional 868 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

Synopsys Stock Performance

Synopsys stock traded down $8.65 during mid-day trading on Friday, hitting $603.52. The company had a trading volume of 992,830 shares, compared to its average volume of 1,049,484. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $651.73. The company's fifty day moving average is $583.07 and its 200-day moving average is $503.46. The company has a market capitalization of $93.64 billion, a price-to-earnings ratio of 43.58, a P/E/G ratio of 4.02 and a beta of 1.15.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the prior year, the firm posted $3.00 EPS. The business's quarterly revenue was up 10.3% compared to the same quarter last year. Equities research analysts predict that Synopsys, Inc. will post 10.64 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on SNPS. The Goldman Sachs Group began coverage on Synopsys in a research report on Thursday, July 10th. They issued a "buy" rating and a $620.00 target price on the stock. Bank of America upped their target price on Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Needham & Company LLC reiterated a "buy" rating and issued a $660.00 target price (up previously from $650.00) on shares of Synopsys in a research report on Tuesday, July 15th. Rosenblatt Securities upped their target price on Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Finally, Piper Sandler upped their target price on Synopsys from $615.00 to $660.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $634.64.

Insider Transactions at Synopsys

In other news, CFO Shelagh Glaser sold 7,310 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the completion of the transaction, the chief financial officer directly owned 15,291 shares of the company's stock, valued at $7,427,144.52. This represents a 32.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CRO Richard S. Mahoney sold 9,010 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total value of $4,245,602.10. Following the transaction, the executive directly owned 1,485 shares of the company's stock, valued at approximately $699,746.85. The trade was 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 in the last three months. 0.62% of the stock is currently owned by company 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.