Legato Capital Management LLC Purchases 5,200 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Legato Capital Management LLC increased its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 208.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,700 shares of the semiconductor company's stock after buying an additional 5,200 shares during the quarter. Legato Capital Management LLC's holdings in Synopsys were worth $3,302,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the business. Cornerstone Planning Group LLC lifted its holdings in Synopsys by 275.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock worth $25,000 after buying an additional 44 shares during the last quarter. Ameriflex Group Inc. bought a new position in Synopsys during the 4th quarter worth approximately $29,000. Pilgrim Partners Asia Pte Ltd bought a new position in Synopsys during the 4th quarter worth approximately $34,000. Cloud Capital Management LLC bought a new position in Synopsys during the 1st quarter worth approximately $36,000. Finally, Hazlett Burt & Watson Inc. lifted its holdings in Synopsys by 28.6% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after buying an additional 20 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Synopsys Price Performance

Shares of SNPS traded down $8.13 on Friday, hitting $601.55. The company's stock had a trading volume of 1,805,672 shares, compared to its average volume of 1,438,585. The company has a market capitalization of $93.34 billion, a PE ratio of 43.43, a PEG ratio of 4.07 and a beta of 1.12. 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 fifty-two week low of $365.74 and a fifty-two week high of $618.49. The company has a 50 day moving average price of $516.09 and a 200 day moving average price of $486.19.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the business earned $3.00 EPS. The business's revenue for the quarter was up 10.3% compared to the same quarter last year. On average, research analysts anticipate that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction on Monday, June 2nd. The shares were 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 approximately $32,782,750.77. The trade was a 13.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Shelagh Glaser sold 7,310 shares of the company's stock in a transaction on 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 owned 15,291 shares of the company's stock, valued at $7,427,144.52. The trade was a 32.34% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,686 shares of company stock valued at $13,001,048. 0.62% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on SNPS shares. Stifel Nicolaus set a $550.00 price target on Synopsys in a report on Monday, April 28th. Piper Sandler lifted their target price on Synopsys from $615.00 to $660.00 and gave the company an "overweight" rating in a research note on Monday. Needham & Company LLC reiterated a "buy" rating and set a $660.00 price target (up from $650.00) on shares of Synopsys in a research report on Tuesday, July 15th. Mizuho decreased their target price on Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, Bank of America lifted their target price on Synopsys from $575.00 to $625.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $622.33.

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.