Strategic Advisors LLC Invests $1.67 Million in Synopsys, Inc. (NASDAQ:SNPS)

Strategic Advisors LLC bought a new position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,893 shares of the semiconductor company's stock, valued at approximately $1,670,000.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Synopsys by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company's stock worth $7,029,360,000 after acquiring an additional 120,575 shares in the last quarter. Capital World Investors boosted its stake in shares of Synopsys by 1.6% during the 4th quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company's stock worth $3,533,526,000 after acquiring an additional 114,893 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Synopsys by 21.5% during the 4th 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 acquiring an additional 1,045,326 shares in the last quarter. Geode Capital Management LLC lifted its stake in Synopsys by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company's stock valued at $1,625,230,000 after buying an additional 75,298 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Synopsys by 26.2% in the 4th quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock valued at $916,441,000 after buying an additional 391,681 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $457.93, for a total value 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. This trade represents a 13.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Shelagh Glaser sold 7,310 shares of Synopsys stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the completion of the sale, the chief financial officer now owns 15,291 shares of the company's stock, valued at $7,427,144.52. This trade represents a 32.34% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.62% of the company's stock.

Synopsys Trading Up 0.1%

SNPS stock opened at $479.41 on Tuesday. The firm has a 50-day moving average of $468.27 and a two-hundred day moving average of $480.35. The company has a market cap of $74.39 billion, a price-to-earnings ratio of 33.02, a PEG ratio of 3.23 and a beta of 1.11. 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 announced its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.40 by $0.27. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. Synopsys had a net margin of 36.12% and a return on equity of 20.48%. The business's revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $3.00 EPS. As a group, equities analysts forecast that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SNPS shares. Stifel Nicolaus set a $550.00 price target on shares of Synopsys in a research note on Monday, April 28th. Needham & Company LLC reaffirmed a "buy" rating and issued a $650.00 price target on shares of Synopsys in a research note on Thursday, May 29th. Morgan Stanley decreased their price target on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. Rosenblatt Securities decreased 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. Finally, KeyCorp set a $540.00 price target on shares of Synopsys in a research note on Tuesday, June 3rd. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $607.14.

Synopsys Company 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.

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