IFM Investors Pty Ltd Boosts Holdings in Synopsys, Inc. (NASDAQ:SNPS)

IFM Investors Pty Ltd grew its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 9.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,698 shares of the semiconductor company's stock after buying 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 quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameriflex Group Inc. acquired a new position in shares of Synopsys during the 4th quarter valued at about $29,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Synopsys in the fourth quarter worth about $34,000. Hazlett Burt & Watson Inc. raised its position in shares of Synopsys by 28.6% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock valued at $44,000 after acquiring an additional 20 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its position in shares of Synopsys by 50.8% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 98 shares of the semiconductor company's stock valued at $48,000 after buying an additional 33 shares during the last quarter. Finally, GoalVest Advisory LLC bought a new position in Synopsys during the 1st quarter worth $50,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SNPS shares. Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a report on Monday, April 28th. Needham & Company LLC reaffirmed a "buy" rating and issued a $650.00 target price on shares of Synopsys in a research report on Thursday, May 29th. KeyCorp set a $540.00 target price on Synopsys in a report on Tuesday, June 3rd. 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 note on Wednesday, April 16th. Finally, Piper Sandler restated an "overweight" rating and issued a $615.00 target price (down from $653.00) 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 given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $607.14.

Insider Buying and Selling

In other Synopsys 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 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction dated 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,686 shares of company stock worth $13,001,048. Corporate insiders own 0.62% of the company's stock.

Synopsys Trading Up 4.5%

SNPS traded up $23.65 during trading on Friday, reaching $546.76. 2,020,024 shares of the stock traded hands, compared to its average volume of 1,177,053. The stock has a market capitalization of $84.83 billion, a PE 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 is $489.89 and its 200 day moving average is $478.16. The company has a quick ratio of 6.85, a current ratio of 7.02 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 $624.80.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its 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 return on equity of 17.09% and a net margin of 34.77%. The company had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.60 billion. During the same quarter in the previous year, the firm earned $3.00 earnings per share. Synopsys's quarterly revenue was up 10.3% on a year-over-year basis. Equities analysts anticipate that Synopsys, Inc. will post 10.64 earnings per share for the current 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.