Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by North Star Asset Management Inc.

Key Points

• North Star Asset Management Inc. increased its position in Synopsys, Inc. by 3.6% during the first quarter, now owning 60,270 shares valued at approximately $25.8 million.
• The company reported $3.67 earnings per share for the latest quarter, exceeding analysts' estimates of $3.40, with a net margin of 34.77%.
• Analysts' ratings have been largely positive, with the stock receiving an average rating of "Moderate Buy" and a consensus price target of $622.33.

North Star Asset Management Inc. boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,270 shares of the semiconductor company's stock after acquiring an additional 2,082 shares during the period. Synopsys comprises about 1.2% of North Star Asset Management Inc.'s portfolio, making the stock its 26th largest position. North Star Asset Management Inc.'s holdings in Synopsys were worth $25,847,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Capital World Investors lifted its stake in shares of Synopsys by 1.6% during the 4th quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company's stock worth $3,533,526,000 after purchasing an additional 114,893 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Synopsys by 21.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock worth $2,864,933,000 after purchasing an additional 1,045,326 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Synopsys by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company's stock valued at $1,625,230,000 after buying an additional 75,298 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of Synopsys by 38.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company's stock valued at $1,043,518,000 after buying an additional 673,837 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Synopsys by 26.2% in the 4th quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock worth $916,441,000 after buying an additional 391,681 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SNPS. Piper Sandler increased their target price on shares of Synopsys from $615.00 to $660.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Stifel Nicolaus set a $550.00 price target on Synopsys in a research report on Monday, April 28th. KeyCorp increased their price objective on Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Mizuho lowered their price objective on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $660.00 target price (up from $650.00) on shares of Synopsys in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $622.33.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the completion of the sale, the chief executive officer directly owned 71,589 shares in the company, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Shelagh Glaser sold 7,310 shares of the company's stock in a transaction on 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 completion of the sale, the chief financial officer directly owned 15,291 shares in the company, 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. In the last quarter, insiders have sold 27,686 shares of company stock worth $13,001,048. 0.62% of the stock is owned by company insiders.

Synopsys Stock Performance

SNPS stock traded down $14.82 during midday trading on Friday, reaching $618.65. The stock had a trading volume of 1,300,432 shares, compared to its average volume of 2,445,245. The firm has a fifty day simple moving average of $529.64 and a two-hundred day simple moving average of $491.47. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $651.73. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02. The stock has a market cap of $95.99 billion, a PE ratio of 44.67, a P/E/G ratio of 4.19 and a beta of 1.12.

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 return on equity of 17.09% and a net margin of 34.77%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period in the prior year, the company earned $3.00 earnings per share. The company's revenue was up 10.3% on a year-over-year basis. As a group, equities research analysts anticipate 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.