Prescott Group Capital Management L.L.C. grew its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 23.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,097 shares of the semiconductor company's stock after buying an additional 597 shares during the period. Prescott Group Capital Management L.L.C.'s holdings in Synopsys were worth $1,328,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in SNPS. Brighton Jones LLC increased its stake in shares of Synopsys by 5.7% in the 4th quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company's stock valued at $447,000 after buying an additional 50 shares during the period. LPL Financial LLC increased its stake in shares of Synopsys by 33.6% in the 4th quarter. LPL Financial LLC now owns 129,967 shares of the semiconductor company's stock valued at $63,081,000 after buying an additional 32,699 shares during the period. Zions Bancorporation N.A. increased its stake in shares of Synopsys by 7.1% in the 4th quarter. Zions Bancorporation N.A. now owns 469 shares of the semiconductor company's stock valued at $228,000 after buying an additional 31 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Synopsys by 10.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 257,128 shares of the semiconductor company's stock valued at $126,947,000 after buying an additional 24,346 shares during the period. Finally, UniSuper Management Pty Ltd increased its stake in shares of Synopsys by 149.5% in the 4th quarter. UniSuper Management Pty Ltd now owns 68,953 shares of the semiconductor company's stock valued at $33,467,000 after buying an additional 41,316 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on SNPS. KeyCorp lifted their price objective on Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Stifel Nicolaus set a $550.00 price objective on Synopsys in a research note on Monday, April 28th. Rosenblatt Securities decreased their price objective on Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Needham & Company LLC reaffirmed a "buy" rating and set a $660.00 price objective (up from $650.00) on shares of Synopsys in a research note on Tuesday, July 15th. Finally, Bank of America lifted their price objective on Synopsys from $575.00 to $625.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $620.67.
Get Our Latest Report on Synopsys
Insider Buying and Selling at Synopsys
In other news, CRO Richard S. Mahoney sold 9,010 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total value of $4,245,602.10. Following the sale, the executive directly owned 1,485 shares in the company, valued at $699,746.85. The trade was a 85.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 owned 71,589 shares in the company, valued at approximately $32,782,750.77. This trade 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 valued at $13,001,048. Company insiders own 0.62% of the company's stock.
Synopsys Stock Down 0.8%
NASDAQ:SNPS opened at $609.68 on Friday. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $618.49. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. The stock has a market cap of $94.60 billion, a price-to-earnings ratio of 44.02, a PEG ratio of 4.07 and a beta of 1.12. The stock has a 50-day moving average price of $516.09 and a two-hundred day moving average price of $486.19.
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, 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 firm had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.60 billion. During the same period in the previous year, the firm earned $3.00 earnings per share. The company's revenue was up 10.3% on a year-over-year basis. As a group, equities analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current year.
Synopsys Profile
(
Free Report)
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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