Oppenheimer & Co. Inc. Boosts Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Oppenheimer & Co. Inc. boosted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 6.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,225 shares of the semiconductor company's stock after acquiring an additional 1,286 shares during the period. Oppenheimer & Co. Inc.'s holdings in Synopsys were worth $9,531,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Ameriflex Group Inc. purchased a new position in shares of Synopsys in the 4th quarter worth $29,000. Whipplewood Advisors LLC purchased a new position in shares of Synopsys in the 4th quarter worth $33,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Synopsys in the 4th quarter worth $34,000. Hazlett Burt & Watson Inc. grew its stake 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 in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of Synopsys by 50.8% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 98 shares of the semiconductor company's stock worth $48,000 after buying an additional 33 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $457.93, for a total value of $5,204,832.38. Following the completion of the sale, the chief executive officer now owns 71,589 shares in the company, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Shelagh Glaser sold 7,310 shares of the business'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 completion of the sale, the chief financial officer now owns 15,291 shares of the company's stock, valued at approximately $7,427,144.52. This represents a 32.34% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,686 shares of company stock worth $13,001,048. 0.62% of the stock is currently owned by corporate insiders.

Synopsys Trading Up 0.1%

Shares of SNPS opened at $470.98 on Tuesday. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $624.80. The company has a 50-day moving average of $473.40 and a 200 day moving average of $477.61. The firm has a market capitalization of $73.08 billion, a price-to-earnings ratio of 34.01, a PEG ratio of 3.11 and a beta of 1.11. 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 (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. On average, research analysts expect that Synopsys, Inc. will post 10.64 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Needham & Company LLC reissued a "buy" rating and issued a $650.00 price objective on shares of Synopsys in a research note on Thursday, May 29th. Rosenblatt Securities dropped their price target on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Wells Fargo & Company dropped their price target on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a research note on Thursday, February 27th. Stifel Nicolaus set a $550.00 price target on shares of Synopsys in a research note on Monday, April 28th. Finally, KeyCorp set a $540.00 price target on shares of Synopsys in a research note on Tuesday, June 3rd. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target 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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