Neuberger Berman Group LLC Raises Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Key Points

• Neuberger Berman Group LLC increased its stake in Synopsys, Inc. by 18.1%, owning approximately 0.38% of the company, with a total value of $252.65 million at the end of the reporting period.
• Synopsys recently reported an EPS of $3.67 for the quarter, exceeding analysts' expectations, and reflected a 10.3% increase in revenue year-over-year.
• Analysts maintain a consensus rating of "Moderate Buy" for Synopsys, with a price target averaging $630.67, as several investment firms raised their price targets recently.

Neuberger Berman Group LLC raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 18.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 589,135 shares of the semiconductor company's stock after buying an additional 90,461 shares during the period. Neuberger Berman Group LLC owned 0.38% of Synopsys worth $252,650,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Advisors Capital Management LLC grew its position in Synopsys by 2.3% in the 4th quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company's stock worth $408,000 after purchasing an additional 19 shares in the last quarter. Williams Jones Wealth Management LLC. grew its position in Synopsys by 0.5% in the 4th quarter. Williams Jones Wealth Management LLC. now owns 4,650 shares of the semiconductor company's stock worth $2,257,000 after purchasing an additional 22 shares in the last quarter. Hardy Reed LLC grew its position in Synopsys by 0.7% in the 1st quarter. Hardy Reed LLC now owns 3,290 shares of the semiconductor company's stock worth $1,411,000 after purchasing an additional 22 shares in the last quarter. Resurgent Financial Advisors LLC grew its position in Synopsys by 2.7% in the 1st quarter. Resurgent Financial Advisors LLC now owns 832 shares of the semiconductor company's stock worth $357,000 after purchasing an additional 22 shares in the last quarter. Finally, Trust Asset Management LLC grew its position in Synopsys by 1.3% in the 1st quarter. Trust Asset Management LLC now owns 1,766 shares of the semiconductor company's stock worth $757,000 after purchasing an additional 22 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Trading Up 0.3%

Shares of Synopsys stock traded up $1.55 during trading on Friday, hitting $617.91. The stock had a trading volume of 881,572 shares, compared to its average volume of 1,654,845. The firm's fifty day simple moving average is $556.26 and its 200-day simple moving average is $497.32. The stock has a market cap of $95.87 billion, a PE ratio of 44.61, a PEG ratio of 4.08 and a beta of 1.15. 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 12 month low of $365.74 and a 12 month high of $651.73.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, beating 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 analyst estimates of $1.60 billion. During the same quarter last year, the business posted $3.00 EPS. The firm's revenue for the quarter was up 10.3% on a year-over-year basis. As a group, sell-side analysts expect that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Insider Buying and Selling at Synopsys

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 value of $4,245,602.10. Following the transaction, the executive owned 1,485 shares of the company's stock, valued at $699,746.85. The trade was a 85.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Shelagh Glaser sold 7,310 shares of Synopsys stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the completion of the transaction, the chief financial officer directly owned 15,291 shares in the company, valued at approximately $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. Company insiders own 0.62% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SNPS. Piper Sandler raised their price target on shares of Synopsys from $615.00 to $660.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Bank of America raised their price target on shares of Synopsys from $575.00 to $625.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. KeyCorp raised their price target 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. The Goldman Sachs Group began coverage on shares of Synopsys in a research note on Thursday, July 10th. They set a "buy" rating and a $620.00 price target for the company. Finally, Needham & Company LLC restated a "buy" rating and set a $660.00 price target (up previously from $650.00) on shares of Synopsys in a research note on Tuesday, July 15th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Synopsys presently has an average rating of "Moderate Buy" and an average target price of $630.67.

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.