Russell Investments Group Ltd. Has $53.02 Million Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Key Points

• Russell Investments Group Ltd. increased its holdings in Synopsys, Inc. by 25.4% in Q1, now owning 123,451 shares valued at approximately $53 million.
• Insider sales included CEO Sassine Ghazi selling 11,366 shares for over $5.2 million, resulting in a significant decrease in his ownership of the stock.
• Synopsys stock has a target range from analysts, with Bank of America raising its target price to $625 and several others also providing "buy" ratings.

Russell Investments Group Ltd. grew its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 25.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 123,451 shares of the semiconductor company's stock after purchasing an additional 24,991 shares during the period. Russell Investments Group Ltd. owned about 0.08% of Synopsys worth $53,016,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SNPS. North Star Asset Management Inc. boosted its stake in shares of Synopsys by 3.6% during the 1st quarter. North Star Asset Management Inc. now owns 60,270 shares of the semiconductor company's stock worth $25,847,000 after acquiring an additional 2,082 shares in the last quarter. SlateStone Wealth LLC boosted its stake in shares of Synopsys by 467.8% during the 1st quarter. SlateStone Wealth LLC now owns 10,220 shares of the semiconductor company's stock worth $4,383,000 after acquiring an additional 8,420 shares in the last quarter. Dynamic Advisor Solutions LLC bought a new stake in shares of Synopsys during the 1st quarter worth about $1,000,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Synopsys by 3.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 20,172 shares of the semiconductor company's stock worth $8,651,000 after acquiring an additional 655 shares in the last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in shares of Synopsys during the 1st quarter worth about $3,116,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction that occurred 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 of the company's stock, valued at approximately $32,782,750.77. This represents a 13.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Richard S. Mahoney sold 9,010 shares of the 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 directly owned 1,485 shares of the company's stock, valued at approximately $699,746.85. The trade was a 85.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,686 shares of company stock valued at $13,001,048. Corporate insiders own 0.62% of the company's stock.

Synopsys Trading Down 1.2%

Synopsys stock opened at $618.57 on Thursday. The business has a 50 day moving average price of $553.58 and a two-hundred day moving average price of $496.59. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01. The stock has a market cap of $95.98 billion, a price-to-earnings ratio of 44.66, a price-to-earnings-growth ratio of 4.14 and a beta of 1.15. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $651.73.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, beating the consensus estimate of $3.40 by $0.27. The firm had revenue of $1.60 billion during 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 company's revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.00 EPS. As a group, equities analysts forecast that Synopsys, Inc. will post 10.64 EPS for the current year.

Wall Street Analysts Forecast Growth

SNPS has been the subject of several recent analyst reports. Bank of America increased their target price on Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Stifel Nicolaus set a $550.00 target price on Synopsys in a research note on Monday, April 28th. Rosenblatt Securities increased their target price on Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a research note on Friday, July 25th. KeyCorp increased their target price on Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, The Goldman Sachs Group initiated coverage on Synopsys in a research note on Thursday, July 10th. They set a "buy" rating and a $620.00 target price for the company. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Synopsys presently has a consensus rating of "Moderate Buy" and an average price target of $630.67.

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.

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