Nichols & Pratt Advisers LLP MA Invests $4.43 Million in Synopsys, Inc. (NASDAQ:SNPS)

Nichols & Pratt Advisers LLP MA purchased a new position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,300 shares of the semiconductor company's stock, valued at approximately $4,432,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ameriflex Group Inc. purchased a new position in shares of Synopsys in the 4th quarter worth about $29,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Synopsys in the 4th quarter worth about $34,000. Hazlett Burt & Watson Inc. boosted its holdings in shares of Synopsys by 28.6% in 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. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in Synopsys by 50.8% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 98 shares of the semiconductor company's stock valued at $48,000 after purchasing an additional 33 shares during the last quarter. Finally, GoalVest Advisory LLC purchased a new stake in Synopsys during the first quarter valued at about $50,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Stock Up 4.5%

NASDAQ SNPS opened at $546.76 on Friday. 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 stock has a market capitalization of $84.83 billion, a PE ratio of 39.48, a PEG ratio of 3.45 and a beta of 1.12. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80. The business's 50-day moving average is $487.88 and its 200 day moving average is $477.92.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its earnings results 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. The company had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.60 billion. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. Synopsys's quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the firm earned $3.00 earnings per share. Sell-side analysts forecast that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Insider Buying and Selling

In other Synopsys 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 directly owned 1,485 shares in the company, valued at $699,746.85. This trade represents a 85.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Shelagh Glaser sold 7,310 shares of the firm's stock in a transaction dated 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 sale, the chief financial officer owned 15,291 shares of the company's stock, valued at $7,427,144.52. This trade represents a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,686 shares of company stock valued at $13,001,048 over the last ninety days. 0.62% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SNPS shares. Stifel Nicolaus set a $550.00 price objective on shares of Synopsys in a report on Monday, April 28th. Needham & Company LLC reissued a "buy" rating and issued a $650.00 price target on shares of Synopsys in a report on Thursday, May 29th. Bank of America lowered their price target on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Mizuho lowered their price target on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, Rosenblatt Securities lowered their price target on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $607.14.

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.

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