Lbp Am Sa Takes Position in Synopsys, Inc. (NASDAQ:SNPS)

LBP AM SA purchased a new stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 741 shares of the semiconductor company's stock, valued at approximately $318,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SNPS. Brighton Jones LLC lifted its position in Synopsys by 5.7% during the 4th quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company's stock worth $447,000 after buying an additional 50 shares in the last quarter. Proficio Capital Partners LLC lifted its position in Synopsys by 47.7% during the 4th quarter. Proficio Capital Partners LLC now owns 796 shares of the semiconductor company's stock worth $386,000 after buying an additional 257 shares in the last quarter. Independent Advisor Alliance lifted its position in Synopsys by 21.8% during the 4th quarter. Independent Advisor Alliance now owns 4,547 shares of the semiconductor company's stock worth $2,207,000 after buying an additional 813 shares in the last quarter. HighTower Advisors LLC lifted its position in Synopsys by 15.6% during the 4th quarter. HighTower Advisors LLC now owns 10,754 shares of the semiconductor company's stock worth $5,220,000 after buying an additional 1,450 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in Synopsys by 20.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 7,239 shares of the semiconductor company's stock worth $3,514,000 after buying an additional 1,223 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Insiders Place Their Bets

In other news, CRO Richard S. Mahoney sold 9,010 shares of Synopsys stock in a transaction that occurred on 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 sale, the executive owned 1,485 shares in the company, valued at $699,746.85. This trade represents a 85.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction on 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 owned 71,589 shares in the company, valued at $32,782,750.77. This represents a 13.70% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,686 shares of company stock worth $13,001,048. Company insiders own 0.62% of the company's stock.

Synopsys Stock Up 3.6%

SNPS stock traded up $19.57 during trading on Tuesday, hitting $569.10. 3,163,803 shares of the stock traded hands, compared to its average volume of 1,217,061. The firm's 50 day moving average is $500.71 and its two-hundred day moving average is $480.34. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85. The stock has a market cap of $88.30 billion, a price-to-earnings ratio of 41.09, a price-to-earnings-growth ratio of 3.69 and a beta of 1.12. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $621.24.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.40 by $0.27. The firm had revenue of $1.60 billion for 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 business's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted $3.00 EPS. On average, sell-side analysts anticipate that Synopsys, Inc. will post 10.64 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a report on Monday, April 28th. Mizuho decreased 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. Piper Sandler restated an "overweight" rating and set a $615.00 target price (down previously from $653.00) on shares of Synopsys in a research report on Thursday, May 29th. Needham & Company LLC upped their price target on shares of Synopsys from $650.00 to $660.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Rosenblatt Securities dropped their price objective on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, Synopsys has an average rating of "Moderate Buy" and an average target price of $613.33.

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.