IFM Investors Pty Ltd Purchases 2,664 Shares of Synopsys, Inc. (NASDAQ:SNPS)

IFM Investors Pty Ltd grew its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 9.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,698 shares of the semiconductor company's stock after purchasing an additional 2,664 shares during the quarter. IFM Investors Pty Ltd's holdings in Synopsys were worth $13,594,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC increased its position in shares of Synopsys by 5.7% during the fourth quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company's stock valued at $447,000 after acquiring an additional 50 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Synopsys by 23.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,058 shares of the semiconductor company's stock valued at $3,911,000 after acquiring an additional 1,556 shares during the last quarter. Proficio Capital Partners LLC increased its position in shares of Synopsys by 47.7% during the fourth quarter. Proficio Capital Partners LLC now owns 796 shares of the semiconductor company's stock valued at $386,000 after acquiring an additional 257 shares during the last quarter. Cullen Frost Bankers Inc. increased its position in shares of Synopsys by 5.4% during the fourth quarter. Cullen Frost Bankers Inc. now owns 15,319 shares of the semiconductor company's stock valued at $7,435,000 after acquiring an additional 791 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Synopsys during the fourth quarter valued at approximately $199,065,000. Institutional investors own 85.47% of the company's stock.

Insider Buying and Selling

In other Synopsys news, CFO Shelagh Glaser sold 7,310 shares of Synopsys stock in a transaction dated 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 sale, the chief financial officer owned 15,291 shares of the company's stock, valued at $7,427,144.52. The trade was a 32.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $457.93, for a total value of $5,204,832.38. Following the sale, the chief executive officer directly owned 71,589 shares of the company's stock, valued at approximately $32,782,750.77. This trade represents a 13.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,686 shares of company stock worth $13,001,048 over the last ninety days. 0.62% of the stock is owned by corporate insiders.

Synopsys Stock Performance

Shares of NASDAQ SNPS traded up $23.65 during mid-day trading on Friday, hitting $546.76. The company had a trading volume of 2,020,024 shares, compared to its average volume of 1,177,980. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $84.83 billion, a price-to-earnings ratio of 39.48, a P/E/G ratio of 3.62 and a beta of 1.12. The stock's 50-day moving average price is $489.89 and its 200-day moving average price is $478.05.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.60 billion. During the same period in the prior year, the company posted $3.00 EPS. The business's revenue for the quarter was up 10.3% compared to the same quarter last year. On average, sell-side analysts forecast that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently commented on SNPS shares. Rosenblatt Securities decreased their price target on Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. Stifel Nicolaus set a $550.00 target price on Synopsys in a research report on Monday, April 28th. Piper Sandler reissued an "overweight" rating and issued a $615.00 target price (down from $653.00) on shares of Synopsys in a research report on Thursday, May 29th. Bank of America decreased their target price on Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Finally, Mizuho decreased their target price on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $607.14.

Synopsys Company 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.