S Bank Fund Management Ltd Invests $5.06 Million in Synopsys, Inc. (NASDAQ:SNPS)

Key Points

• S Bank Fund Management Ltd has acquired 11,801 shares of Synopsys, Inc., valued at approximately $5,061,000, marking a new investment in the semiconductor company.
• CEO Sassine Ghazi recently sold 11,366 shares at an average price of $457.93, reducing his ownership by 13.70%.
• Analysts have a consensus rating of "Moderate Buy" for Synopsys, with target prices ranging from $550.00 to $715.00, indicating strong market interest.

S Bank Fund Management Ltd purchased a new position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,801 shares of the semiconductor company's stock, valued at approximately $5,061,000.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC lifted its holdings in shares of Synopsys by 5.7% in the fourth quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company's stock valued at $447,000 after purchasing an additional 50 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in Synopsys by 8.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 24,418 shares of the semiconductor company's stock worth $11,859,000 after purchasing an additional 1,836 shares during the last quarter. Sagespring Wealth Partners LLC bought a new stake in shares of Synopsys in the 4th quarter valued at about $606,000. Advisors Capital Management LLC increased its holdings in 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 purchasing an additional 19 shares during the period. Finally, Mariner LLC boosted its position in shares of Synopsys by 5.6% in the 4th quarter. Mariner LLC now owns 129,461 shares of the semiconductor company's stock worth $62,839,000 after purchasing an additional 6,920 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Synopsys Trading Up 0.3%

Shares of SNPS traded up $1.55 during midday trading on Friday, hitting $617.91. 881,572 shares of the stock were exchanged, compared to its average volume of 1,654,845. The firm has a market cap of $95.87 billion, a P/E ratio of 44.61, a P/E/G ratio of 4.08 and a beta of 1.15. The stock has a fifty day simple moving average of $556.26 and a 200 day simple moving average of $497.32. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $651.73. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, topping 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 business had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.60 billion. During the same quarter in the prior year, the firm posted $3.00 EPS. The company's revenue was up 10.3% compared to the same quarter last year. On average, research analysts anticipate that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Insider Activity

In related news, CRO Richard S. Mahoney sold 9,010 shares of Synopsys stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total value of $4,245,602.10. Following the sale, the executive 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction, the chief financial officer owned 15,291 shares of the company's stock, valued at approximately $7,427,144.52. This trade represents a 32.34% 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 worth $13,001,048. 0.62% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SNPS has been the subject of a number of research analyst reports. Stifel Nicolaus set a $550.00 price target on Synopsys in a report on Monday, April 28th. Rosenblatt Securities increased their price target on shares of Synopsys from $625.00 to $650.00 and gave the stock a "buy" rating in a report on Friday, July 25th. The Goldman Sachs Group began coverage on Synopsys in a research note on Thursday, July 10th. They set a "buy" rating and a $620.00 price target on the stock. Morgan Stanley reissued an "overweight" rating and set a $715.00 price objective (up from $540.00) on shares of Synopsys in a report on Monday. Finally, KeyCorp lifted their price target on shares of Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $630.67.

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.