Novem Group Increases Position in Synopsys, Inc. (NASDAQ:SNPS)

Novem Group boosted its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 36.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,893 shares of the semiconductor company's stock after buying an additional 504 shares during the period. Novem Group's holdings in Synopsys were worth $812,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Norges Bank bought a new stake in Synopsys during the fourth quarter worth about $583,608,000. GAMMA Investing LLC boosted its position in shares of Synopsys by 54,286.0% in the 1st quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company's stock worth $513,116,000 after purchasing an additional 1,194,292 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Synopsys by 21.5% in the 4th 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. Capital Research Global Investors purchased a new stake in shares of Synopsys in the 4th quarter worth approximately $239,864,000. Finally, Raymond James Financial Inc. bought a new position in Synopsys during the 4th quarter valued at approximately $199,065,000. 85.47% of the stock is owned by institutional investors.

Synopsys Stock Performance

Shares of SNPS stock traded up $23.65 on Friday, reaching $546.76. The stock had a trading volume of 2,020,024 shares, compared to its average volume of 1,177,053. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80. The stock has a market cap of $84.84 billion, a P/E ratio of 39.48, a price-to-earnings-growth ratio of 3.45 and a beta of 1.12. The company has a 50 day simple moving average of $487.88 and a 200 day simple moving average of $477.92.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced 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 business 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%. The business's revenue for the quarter was up 10.3% on a year-over-year basis. During the same period last year, the firm posted $3.00 earnings per share. Equities research analysts expect that Synopsys, Inc. will post 10.64 EPS for the current year.

Insider Activity at Synopsys

In other news, CFO Shelagh Glaser sold 7,310 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $485.72, for a total value 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 represents a 32.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was 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 directly owned 71,589 shares in the company, valued at approximately $32,782,750.77. This represents a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,686 shares of company stock worth $13,001,048. 0.62% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. KeyCorp set a $540.00 target price on Synopsys in a research note on Tuesday, June 3rd. Needham & Company LLC restated a "buy" rating and set a $650.00 price objective on shares of Synopsys in a research note on Thursday, May 29th. Mizuho decreased their target price on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Bank of America cut 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. Finally, Rosenblatt Securities decreased their price objective on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a report on Thursday, May 29th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, Synopsys currently has a consensus rating of "Moderate Buy" and a consensus 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.