Illinois Municipal Retirement Fund Raises Stake in Synopsys, Inc. (NASDAQ:SNPS)

Illinois Municipal Retirement Fund boosted its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 2.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,347 shares of the semiconductor company's stock after buying an additional 1,163 shares during the period. Illinois Municipal Retirement Fund's holdings in Synopsys were worth $19,876,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of SNPS. Ameriflex Group Inc. acquired a new position in Synopsys in the fourth quarter valued at approximately $29,000. Whipplewood Advisors LLC acquired a new position in Synopsys in the fourth quarter valued at approximately $33,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Synopsys in the fourth quarter valued at approximately $34,000. Hazlett Burt & Watson Inc. lifted its holdings in Synopsys by 28.6% in the fourth 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 during the period. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its holdings in Synopsys by 50.8% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 98 shares of the semiconductor company's stock valued at $48,000 after acquiring an additional 33 shares during the period. Hedge funds and other institutional investors own 85.47% of the company's stock.

Insider Buying and Selling at Synopsys

In other news, CFO Shelagh Glaser sold 7,310 shares of the stock in a transaction 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 now directly owns 15,291 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 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. Insiders sold a total of 27,686 shares of company stock worth $13,001,048 in the last three months. 0.62% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SNPS has been the subject of a number of analyst reports. Piper Sandler reissued an "overweight" rating and issued a $615.00 price target (down from $653.00) on shares of Synopsys in a report on Thursday, May 29th. Mizuho reduced their target price on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Needham & Company LLC reaffirmed a "buy" rating and set a $650.00 target price on shares of Synopsys in a research note on Thursday, May 29th. Bank of America reduced 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, Stifel Nicolaus set a $550.00 target price on Synopsys in a research note on Monday, April 28th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Synopsys has a consensus rating of "Moderate Buy" and a consensus price target of $607.14.

Synopsys Stock Up 1.7%

Shares of NASDAQ:SNPS opened at $495.70 on Friday. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01. The business has a fifty day moving average of $477.55 and a two-hundred day moving average of $477.60. The stock has a market cap of $76.91 billion, a P/E ratio of 35.79, a PEG ratio of 3.22 and a beta of 1.11. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $624.80.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued 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. The company had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.60 billion. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The firm's quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the business earned $3.00 EPS. On average, research analysts expect 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.

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