Maxi Investments CY Ltd Acquires 6,280 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Key Points

• Maxi Investments CY Ltd significantly increased its stake in Synopsys, Inc. by 644.1% in Q1, now owning 7,255 shares valued at $3,111,000.
• Positive analyst ratings are boosting Synopsys' outlook, with Needham & Company raising its price target to $660.00 and maintaining a "buy" rating.
• Synopsys reported a quarterly EPS of $3.67, exceeding estimates and marking a 10.3% year-over-year revenue increase, reflecting strong financial performance.

Maxi Investments CY Ltd boosted its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 644.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,255 shares of the semiconductor company's stock after acquiring an additional 6,280 shares during the quarter. Maxi Investments CY Ltd's holdings in Synopsys were worth $3,111,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SNPS. Brighton Jones LLC lifted its position in Synopsys by 5.7% in the 4th quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company's stock valued at $447,000 after acquiring an additional 50 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Synopsys in the 4th quarter valued at $1,678,000. Polymer Capital Management US LLC bought a new stake in Synopsys during the 4th quarter worth about $4,623,000. Bell Asset Management Ltd bought a new stake in Synopsys during the 4th quarter worth about $4,750,000. Finally, Bank of Montreal Can lifted its position in Synopsys by 6.3% during the 4th quarter. Bank of Montreal Can now owns 245,523 shares of the semiconductor company's stock worth $119,167,000 after buying an additional 14,540 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

SNPS has been the topic of several analyst reports. Mizuho cut their price target 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. Stifel Nicolaus set a $550.00 price objective on shares of Synopsys in a research note on Monday, April 28th. KeyCorp boosted their price objective on shares of Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Needham & Company LLC restated a "buy" rating and set a $660.00 price objective (up from $650.00) on shares of Synopsys in a research note on Tuesday, July 15th. Finally, The Goldman Sachs Group started coverage on shares of Synopsys in a research note on Thursday, July 10th. They set a "buy" rating and a $620.00 price objective on the stock. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $622.33.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $457.93, for a total value of $5,204,832.38. Following the completion of the transaction, the chief executive officer owned 71,589 shares of the company's stock, valued at $32,782,750.77. This represents a 13.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction of $4,245,602.10. Following the completion of the transaction, the executive directly owned 1,485 shares of the company's stock, valued at approximately $699,746.85. The trade was a 85.85% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,686 shares of company stock valued at $13,001,048. Company insiders own 0.62% of the company's stock.

Synopsys Stock Performance

Shares of NASDAQ:SNPS traded down $2.62 on Wednesday, reaching $625.88. 1,016,171 shares of the company's stock were exchanged, compared to its average volume of 2,482,681. The company has a fifty day moving average of $534.72 and a 200-day moving average of $492.91. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $651.73. The company has a market capitalization of $97.11 billion, a price-to-earnings ratio of 45.19, a PEG ratio of 4.16 and a beta of 1.15. 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 results 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. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the firm posted $3.00 EPS. The firm's quarterly revenue was up 10.3% on a year-over-year basis. On average, research analysts predict that Synopsys, Inc. will post 10.64 EPS 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.