Kentucky Retirement Systems Insurance Trust Fund Takes Position in Synopsys, Inc. (NASDAQ:SNPS)

Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,485 shares of the semiconductor company's stock, valued at approximately $1,923,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dynamic Advisor Solutions LLC purchased a new position in Synopsys in the first quarter worth $1,000,000. Bancreek Capital Management LP purchased a new stake in shares of Synopsys during the fourth quarter valued at $3,827,000. Cullen Frost Bankers Inc. grew its holdings 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 buying an additional 791 shares during the last quarter. Andra AP fonden grew its holdings in shares of Synopsys by 61.1% during the fourth quarter. Andra AP fonden now owns 11,600 shares of the semiconductor company's stock valued at $5,630,000 after buying an additional 4,400 shares during the last quarter. Finally, Integrated Advisors Network LLC grew its holdings in shares of Synopsys by 8.0% during the first quarter. Integrated Advisors Network LLC now owns 529 shares of the semiconductor company's stock valued at $227,000 after buying an additional 39 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CRO Richard S. Mahoney sold 9,010 shares of the company's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Shelagh Glaser sold 7,310 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the sale, the chief financial officer now directly owns 15,291 shares of the company's stock, 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. Insiders sold a total of 27,686 shares of company stock worth $13,001,048 in the last 90 days. Insiders own 0.62% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SNPS. Bank of America dropped their price objective on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Morgan Stanley dropped their price objective on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a report on Monday, February 24th. KeyCorp set a $540.00 price objective on shares of Synopsys in a report on Tuesday, June 3rd. Stifel Nicolaus set a $550.00 price objective on shares of Synopsys in a report on Monday, April 28th. Finally, Rosenblatt Securities dropped their price objective on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. One equities 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, Synopsys has a consensus rating of "Moderate Buy" and an average price target of $607.14.

Synopsys Price Performance

Shares of Synopsys stock traded up $0.45 during trading hours on Monday, reaching $470.98. The stock had a trading volume of 897,325 shares, compared to its average volume of 1,155,887. The stock's 50 day moving average is $473.40 and its 200 day moving average is $477.61. The firm has a market capitalization of $73.08 billion, a PE ratio of 34.01, a PEG ratio of 3.11 and a beta of 1.11. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month 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.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, topping analysts' consensus estimates of $3.40 by $0.27. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The company's revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.00 earnings per share. Equities analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

About Synopsys

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.