Synopsys, Inc. (NASDAQ:SNPS) is Robocap Asset Management Ltd's 3rd Largest Position

Robocap Asset Management Ltd raised its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 9.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,839 shares of the semiconductor company's stock after purchasing an additional 1,800 shares during the quarter. Synopsys accounts for approximately 6.7% of Robocap Asset Management Ltd's investment portfolio, making the stock its 3rd biggest position. Robocap Asset Management Ltd's holdings in Synopsys were worth $8,937,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Advisors Capital Management LLC boosted its holdings in shares of Synopsys by 2.3% during the 4th quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company's stock valued at $408,000 after acquiring an additional 19 shares in the last quarter. Hazlett Burt & Watson Inc. raised its position in Synopsys by 28.6% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after purchasing an additional 20 shares during the last quarter. Peninsula Wealth LLC raised its position in Synopsys by 0.5% during the 4th quarter. Peninsula Wealth LLC now owns 4,224 shares of the semiconductor company's stock worth $2,050,000 after purchasing an additional 20 shares during the last quarter. Williams Jones Wealth Management LLC. raised its position in Synopsys by 0.5% during the 4th quarter. Williams Jones Wealth Management LLC. now owns 4,650 shares of the semiconductor company's stock worth $2,257,000 after purchasing an additional 22 shares during the last quarter. Finally, Ashton Thomas Securities LLC raised its position in Synopsys by 1.2% during the 4th quarter. Ashton Thomas Securities LLC now owns 1,866 shares of the semiconductor company's stock worth $906,000 after purchasing an additional 23 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SNPS shares. Piper Sandler reaffirmed an "overweight" rating and set a $615.00 target price (down from $653.00) on shares of Synopsys in a research report on Thursday, May 29th. Needham & Company LLC reaffirmed a "buy" rating and set a $650.00 target price on shares of Synopsys in a research report on Thursday, May 29th. Stifel Nicolaus set a $550.00 target price on Synopsys in a research report on Monday, April 28th. Mizuho lowered their target price 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, Rosenblatt Securities lowered 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. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $607.14.

Synopsys Trading Up 2.8%

Shares of NASDAQ:SNPS traded up $14.99 on Tuesday, reaching $551.51. 1,314,709 shares of the company traded hands, compared to its average volume of 1,179,374. The business's 50-day simple moving average is $491.74 and its 200 day simple moving average is $478.25. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $624.80. The stock has a market capitalization of $85.57 billion, a P/E ratio of 39.82, a price-to-earnings-growth ratio of 3.62 and a beta of 1.12. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01.

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, topping the consensus estimate of $3.40 by $0.27. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The company had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.60 billion. During the same period last year, the firm earned $3.00 earnings per share. Synopsys's quarterly revenue was up 10.3% on a year-over-year basis. As a group, equities analysts anticipate that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Insider Activity

In related news, CFO Shelagh Glaser sold 7,310 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $485.72, for a total value of $3,550,613.20. Following the completion of the transaction, the chief financial officer directly owned 15,291 shares in the company, valued at $7,427,144.52. The trade was a 32.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the completion of the transaction, the chief executive officer owned 71,589 shares of the company's stock, valued at approximately $32,782,750.77. The trade was 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. Insiders own 0.62% of the company's stock.

About Synopsys

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.