National Bank of Canada FI Purchases 9,714 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Key Points

• National Bank of Canada FI increased its stake in Synopsys, Inc. by 12.1% during the first quarter, acquiring an additional 9,714 shares, bringing its total ownership to approximately 90,275 shares valued at $38.7 million.
• In recent insider trading, CRO Richard S. Mahoney sold 9,010 shares, representing an 85.85% decrease in his position, while CFO Shelagh Glaser sold 7,310 shares, reducing her ownership by 32.34%.
• Analysts are optimistic about Synopsys, with a consensus rating of "Moderate Buy" and a price target averaging $622.33, as brokerages continue to raise their price objectives for the stock.

National Bank of Canada FI lifted its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 12.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 90,275 shares of the semiconductor company's stock after purchasing an additional 9,714 shares during the period. National Bank of Canada FI owned about 0.06% of Synopsys worth $38,714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of SNPS. Cornerstone Planning Group LLC raised its holdings in Synopsys by 275.0% during 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 period. Ameriflex Group Inc. purchased a new stake in shares of Synopsys during the fourth quarter worth about $29,000. Cloud Capital Management LLC purchased a new stake in shares of Synopsys during the first quarter worth about $36,000. Meeder Asset Management Inc. raised its stake in Synopsys by 33.3% during the 1st quarter. Meeder Asset Management Inc. now owns 104 shares of the semiconductor company's stock valued at $45,000 after purchasing an additional 26 shares during the period. Finally, GoalVest Advisory LLC purchased a new position in Synopsys in the 1st quarter worth approximately $50,000. 85.47% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CRO Richard S. Mahoney sold 9,010 shares of the firm's stock in a transaction dated 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 completion of the sale, the executive owned 1,485 shares in the company, valued at approximately $699,746.85. This trade represents a 85.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Shelagh Glaser sold 7,310 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer owned 15,291 shares in the company, valued at $7,427,144.52. The trade was a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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 company insiders.

Synopsys Trading Down 0.1%

Shares of NASDAQ SNPS opened at $619.42 on Friday. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $651.73. 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 business's 50 day moving average is $544.48 and its two-hundred day moving average is $494.74. The stock has a market capitalization of $96.11 billion, a P/E ratio of 44.72, a PEG ratio of 4.10 and a beta of 1.15.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, topping 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 firm had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.60 billion. During the same quarter in the previous year, the business earned $3.00 EPS. The company's quarterly revenue was up 10.3% on a year-over-year basis. As a group, research analysts expect that Synopsys, Inc. will post 10.64 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SNPS. Rosenblatt Securities increased their price objective on shares of Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a report on Friday, July 25th. The Goldman Sachs Group assumed coverage on shares of Synopsys in a research note on Thursday, July 10th. They set a "buy" rating and a $620.00 target price for the company. KeyCorp lifted their price target on shares of Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Bank of America increased their price objective on shares of Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Finally, Needham & Company LLC restated a "buy" rating and set a $660.00 price objective (up previously from $650.00) on shares of Synopsys in a research report on Tuesday, July 15th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Synopsys presently has a consensus rating of "Moderate Buy" and a consensus price target of $622.33.

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.

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