139,543 Shares in Synopsys, Inc. (NASDAQ:SNPS) Purchased by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC purchased a new stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 139,543 shares of the semiconductor company's stock, valued at approximately $59,843,000. Manning & Napier Advisors LLC owned approximately 0.09% of Synopsys at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SNPS. Dynamic Advisor Solutions LLC acquired a new stake in Synopsys in the 1st quarter valued at $1,000,000. Bancreek Capital Management LP bought a new position in shares of Synopsys in the fourth quarter valued at $3,827,000. Cullen Frost Bankers Inc. lifted 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 valued at $7,435,000 after buying an additional 791 shares in 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 increased its position 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 worth $227,000 after acquiring an additional 39 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SNPS. KeyCorp set a $540.00 price target on shares of Synopsys in a research report on Tuesday, June 3rd. Stifel Nicolaus set a $550.00 target price on Synopsys in a report on Monday, April 28th. Wells Fargo & Company cut their target price on Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 27th. Piper Sandler reissued an "overweight" rating and issued a $615.00 price target (down from $653.00) on shares of Synopsys in a research report on Thursday, May 29th. Finally, Needham & Company LLC restated a "buy" rating and set a $650.00 price objective on shares of Synopsys in a research note on Thursday, May 29th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $607.14.

Insider Activity at Synopsys

In related news, CRO Richard S. Mahoney sold 9,010 shares of the business's 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 sale, the executive now directly owns 1,485 shares in the company, valued at approximately $699,746.85. The trade was a 85.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction dated 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 transaction, the chief executive officer now owns 71,589 shares of the company's stock, valued at $32,782,750.77. The trade was a 13.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,686 shares of company stock worth $13,001,048. Insiders own 0.62% of the company's stock.

Synopsys Stock Performance

Shares of NASDAQ SNPS traded down $3.09 during mid-day trading on Friday, reaching $470.53. 1,510,850 shares of the company's stock were exchanged, compared to its average volume of 1,156,924. The firm has a 50-day moving average price of $472.42 and a two-hundred day moving average price of $477.93. 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 firm has a market capitalization of $73.01 billion, a price-to-earnings ratio of 33.97, a price-to-earnings-growth ratio of 3.11 and a beta of 1.11. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $624.80.

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

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.