Stonegate Investment Group LLC Takes $293,000 Position in Synopsys, Inc. (NASDAQ:SNPS)

Stonegate Investment Group LLC purchased a new stake 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 & Exchange Commission. The institutional investor purchased 684 shares of the semiconductor company's stock, valued at approximately $293,000.

A number of other institutional investors have also recently made changes to their positions in SNPS. Ameriflex Group Inc. purchased a new stake in Synopsys in the fourth quarter worth approximately $29,000. Whipplewood Advisors LLC purchased a new stake in Synopsys in the fourth quarter worth approximately $33,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in Synopsys in the fourth quarter worth approximately $34,000. Hazlett Burt & Watson Inc. boosted its holdings in Synopsys by 28.6% in the fourth 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. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its holdings in Synopsys by 50.8% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 98 shares of the semiconductor company's stock worth $48,000 after purchasing an additional 33 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

Analyst Upgrades and Downgrades

SNPS has been the topic of several research reports. Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a report on Monday, April 28th. Rosenblatt Securities dropped their price target on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. Wells Fargo & Company dropped their price target on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 27th. KeyCorp set a $540.00 price target on shares of Synopsys in a research note on Tuesday, June 3rd. Finally, Bank of America dropped their price target on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $607.14.

Insider Activity at Synopsys

In other Synopsys news, CFO Shelagh Glaser sold 7,310 shares of the business's stock in a transaction 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 sale, the chief financial officer now owns 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction 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 sale, the chief executive officer now owns 71,589 shares in the company, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,686 shares of company stock worth $13,001,048. 0.62% of the stock is owned by corporate insiders.

Synopsys Price Performance

Shares of SNPS traded up $0.45 during trading hours on Monday, reaching $470.98. 897,325 shares of the stock traded hands, compared to its average volume of 1,155,887. 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 52-week low of $365.74 and a 52-week high of $624.80. The company's 50-day moving average price is $473.40 and its two-hundred day moving average price is $477.61. The company has a market cap of $73.08 billion, a P/E ratio of 34.01, a price-to-earnings-growth ratio of 3.11 and a beta of 1.11.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its 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. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The company had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.60 billion. During the same quarter in the previous year, the company earned $3.00 EPS. Synopsys's revenue for the quarter was up 10.3% on a year-over-year basis. On average, analysts anticipate that Synopsys, Inc. will post 10.64 earnings per share for the current year.

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.