Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS lifted its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 3.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 56,290 shares of the semiconductor company's stock after buying an additional 1,800 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Synopsys were worth $24,140,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of SNPS. Cornerstone Planning Group LLC lifted its stake in Synopsys by 275.0% in the first quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 44 shares during the last quarter. Ameriflex Group Inc. acquired a new stake in Synopsys in the fourth quarter valued at approximately $29,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Synopsys in the fourth quarter valued at approximately $34,000. Cloud Capital Management LLC acquired a new stake in Synopsys in the first quarter valued at approximately $36,000. Finally, Hazlett Burt & Watson Inc. lifted its stake 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 last quarter. 85.47% of the stock is currently owned by institutional investors.

Insider Activity

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 value of $3,550,613.20. Following the completion of the transaction, the chief financial officer directly owned 15,291 shares in the company, 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 through the SEC website. Also, CRO Richard S. Mahoney sold 9,010 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total value of $4,245,602.10. Following the transaction, the executive owned 1,485 shares of the company's stock, valued at $699,746.85. This represents a 85.85% 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 quarter. 0.62% of the stock is owned by company insiders.

Synopsys Stock Performance

NASDAQ:SNPS traded down $5.16 during trading on Friday, reaching $604.52. The company's stock had a trading volume of 1,056,913 shares, compared to its average volume of 1,437,764. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02. The firm has a market cap of $93.80 billion, a price-to-earnings ratio of 43.65, a price-to-earnings-growth ratio of 4.07 and a beta of 1.12. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $618.49. The firm has a 50 day moving average of $516.09 and a 200-day moving average of $486.19.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, beating analysts' consensus estimates 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 EPS. Synopsys's revenue for the quarter was up 10.3% compared to the same quarter last year. Research analysts expect that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Analyst Ratings Changes

SNPS has been the subject of a number of analyst reports. The Goldman Sachs Group initiated coverage on shares of Synopsys in a research note on Thursday, July 10th. They issued a "buy" rating and a $620.00 price objective for the company. Needham & Company LLC restated a "buy" rating and issued a $660.00 price objective (up from $650.00) on shares of Synopsys in a research note on Tuesday, July 15th. Rosenblatt Securities boosted their target price on shares of Synopsys from $625.00 to $650.00 and gave the stock a "buy" rating in a research report on Friday. Bank of America boosted their target price on shares of Synopsys from $575.00 to $625.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Finally, Mizuho dropped their target price on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $622.33.

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.