Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 0.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 260,212 shares of the semiconductor company's stock after acquiring an additional 955 shares during the quarter. Principal Financial Group Inc. owned 0.17% of Synopsys worth $111,592,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SNPS. Mutual Advisors LLC increased its position in shares of Synopsys by 10.4% in the first quarter. Mutual Advisors LLC now owns 1,069 shares of the semiconductor company's stock valued at $477,000 after buying an additional 101 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in Synopsys by 0.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 13,279 shares of the semiconductor company's stock valued at $5,695,000 after acquiring an additional 110 shares during the last quarter. Clark Asset Management LLC grew its stake in Synopsys by 28.8% in the 1st quarter. Clark Asset Management LLC now owns 649 shares of the semiconductor company's stock valued at $278,000 after acquiring an additional 145 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in Synopsys by 687.2% during the 1st quarter. Teacher Retirement System of Texas now owns 71,328 shares of the semiconductor company's stock valued at $30,589,000 after acquiring an additional 62,267 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its position in Synopsys by 26.3% during the first quarter. First Horizon Advisors Inc. now owns 36,743 shares of the semiconductor company's stock worth $15,758,000 after acquiring an additional 7,648 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SNPS shares. Stifel Nicolaus set a $550.00 price target on shares of Synopsys in a research report on Monday, April 28th. KeyCorp set a $540.00 price objective on Synopsys in a research report on Tuesday, June 3rd. Rosenblatt Securities dropped their price objective on Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. Bank of America reduced their target price 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, Piper Sandler reaffirmed an "overweight" rating and set a $615.00 price target (down from $653.00) on shares of Synopsys in a research note on Thursday, May 29th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, Synopsys currently has an average rating of "Moderate Buy" and an average price target of $607.14.

Synopsys Trading Up 4.5%

Shares of SNPS traded up $23.65 during mid-day trading on Friday, hitting $546.76. The company had a trading volume of 2,020,024 shares, compared to its average volume of 1,177,053. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $624.80. The business's 50-day simple moving average is $489.89 and its 200-day simple moving average is $478.16. The stock has a market cap of $84.83 billion, a PE ratio of 39.48, a P/E/G ratio of 3.62 and a beta of 1.12. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01.

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

Insider Buying and Selling at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 9,010 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the executive owned 1,485 shares in the company, valued at $699,746.85. This represents a 85.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Shelagh Glaser sold 7,310 shares of the stock in a transaction that occurred 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 of the company's stock, valued at $7,427,144.52. This trade represents a 32.34% decrease in their position. 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 three months. 0.62% of the stock is owned by company insiders.

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.