Sowell Financial Services LLC Buys Shares of 954 Synopsys, Inc. (NASDAQ:SNPS)

Sowell Financial Services LLC bought a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 954 shares of the semiconductor company's stock, valued at approximately $409,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SNPS. Norges Bank purchased a new stake in Synopsys during the fourth quarter valued at approximately $583,608,000. GAMMA Investing LLC boosted its position in shares of Synopsys by 54,286.0% in the first quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company's stock worth $513,116,000 after purchasing an additional 1,194,292 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Synopsys by 21.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock worth $2,864,933,000 after purchasing an additional 1,045,326 shares during the period. Capital Research Global Investors bought a new position in shares of Synopsys in the fourth quarter worth approximately $239,864,000. Finally, Raymond James Financial Inc. bought a new position in shares of Synopsys in the fourth quarter worth approximately $199,065,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on SNPS shares. Rosenblatt Securities dropped their price target on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. Mizuho dropped their price target on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Morgan Stanley dropped their price target on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research report on Monday, February 24th. Wells Fargo & Company dropped their target price on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a research report on Thursday, February 27th. Finally, Needham & Company LLC restated a "buy" rating and set a $650.00 target price on shares of Synopsys in a research report on Thursday, May 29th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $607.14.

Insider Buying and Selling

In related news, CRO Richard S. Mahoney sold 9,010 shares of the firm's stock in a transaction dated 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 transaction, the executive now owns 1,485 shares of the company's stock, valued at $699,746.85. This trade represents a 85.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction dated 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 now directly owns 71,589 shares in the company, valued at $32,782,750.77. This represents a 13.70% 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 in the last 90 days. Company insiders own 0.62% of the company's stock.

Synopsys Price Performance

Synopsys stock opened at $470.53 on Friday. The firm has a 50-day moving average price of $472.42 and a 200-day moving average price of $478.95. The firm has a market capitalization of $73.01 billion, a PE ratio of 33.97, a price-to-earnings-growth ratio of 3.13 and a beta of 1.11. 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, Inc. has a 12-month low of $365.74 and a 12-month high of $624.80.

Synopsys (NASDAQ:SNPS - Get Free Report) last released 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. The firm had revenue of $1.60 billion during 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%. The business's revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the business earned $3.00 EPS. As a group, equities research analysts forecast that Synopsys, Inc. will post 10.64 EPS for the current year.

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.

Want to see what other hedge funds are holding SNPS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synopsys, Inc. (NASDAQ:SNPS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.