KBC Group NV Buys 861 Shares of Synopsys, Inc. (NASDAQ:SNPS)

KBC Group NV increased its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 0.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 177,892 shares of the semiconductor company's stock after purchasing an additional 861 shares during the period. KBC Group NV owned 0.12% of Synopsys worth $76,289,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dynamic Advisor Solutions LLC purchased a new stake in Synopsys in the first quarter worth $1,000,000. Bancreek Capital Management LP purchased a new stake in shares of Synopsys in the fourth quarter worth $3,827,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Synopsys by 3.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 20,172 shares of the semiconductor company's stock worth $8,651,000 after acquiring an additional 655 shares during the last quarter. Cullen Frost Bankers Inc. grew its stake in shares of Synopsys by 5.4% in the fourth quarter. Cullen Frost Bankers Inc. now owns 15,319 shares of the semiconductor company's stock worth $7,435,000 after acquiring an additional 791 shares during the last quarter. Finally, Andra AP fonden grew its stake in shares of Synopsys by 61.1% in the fourth quarter. Andra AP fonden now owns 11,600 shares of the semiconductor company's stock worth $5,630,000 after acquiring an additional 4,400 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Stock Performance

Shares of Synopsys stock traded up $6.93 during trading on Friday, hitting $502.63. 2,153,499 shares of the company's stock traded hands, compared to its average volume of 1,164,833. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80. The stock has a market capitalization of $77.99 billion, a P/E ratio of 36.29, a PEG ratio of 3.32 and a beta of 1.11. The business has a 50-day simple moving average of $479.33 and a 200-day simple moving average of $477.34.

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, 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 period last year, the firm posted $3.00 earnings per share. Synopsys's revenue was up 10.3% compared to the same quarter last year. As a group, analysts forecast that Synopsys, Inc. will post 10.64 EPS for the current year.

Insider Buying and Selling at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 9,010 shares of the stock in a transaction dated 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 now owns 1,485 shares of the company's stock, valued at approximately $699,746.85. This represents a 85.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Shelagh Glaser sold 7,310 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $485.72, for a total value 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,686 shares of company stock valued at $13,001,048. 0.62% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SNPS. Bank of America cut their target price on Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Piper Sandler reissued 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. Stifel Nicolaus set a $550.00 target price on Synopsys in a research note on Monday, April 28th. Rosenblatt Securities cut their target price on Synopsys from $660.00 to $625.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. Finally, Mizuho cut their target price on Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. 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 data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target 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.