Sumitomo Mitsui Trust Group Inc. Raises Position in Synopsys, Inc. (NASDAQ:SNPS)

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 9.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 785,489 shares of the semiconductor company's stock after purchasing an additional 66,975 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.51% of Synopsys worth $336,857,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SNPS. Ameriflex Group Inc. purchased a new stake in shares of Synopsys during the 4th quarter valued at $29,000. Whipplewood Advisors LLC acquired a new position in shares of Synopsys in the 4th quarter valued at $33,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Synopsys in the 4th quarter valued at $34,000. Hazlett Burt & Watson Inc. increased its position in shares of Synopsys by 28.6% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock valued at $44,000 after acquiring an additional 20 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Synopsys by 50.8% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 98 shares of the semiconductor company's stock valued at $48,000 after acquiring an additional 33 shares during the period. Hedge funds and other institutional investors own 85.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SNPS. KeyCorp set a $540.00 target price on Synopsys in a research report on Tuesday, June 3rd. Mizuho cut their target price on Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Bank of America cut their target price on Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Needham & Company LLC reissued a "buy" rating and issued a $650.00 target price on shares of Synopsys in a research report on Thursday, May 29th. Finally, Rosenblatt Securities cut their target price on Synopsys from $660.00 to $625.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $607.14.

Synopsys Price Performance

NASDAQ:SNPS opened at $502.63 on Friday. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $624.80. 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 capitalization of $77.99 billion, a PE ratio of 36.29, a price-to-earnings-growth ratio of 3.27 and a beta of 1.11. The stock's 50-day moving average price is $479.33 and its 200-day moving average price is $477.58.

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

Insider Transactions at Synopsys

In other 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 transaction of $5,204,832.38. Following the sale, the chief executive officer now owns 71,589 shares of the company's stock, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 sale, the chief financial officer now directly owns 15,291 shares in the company, valued at approximately $7,427,144.52. The trade was a 32.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,686 shares of company stock worth $13,001,048 in the last ninety days. Insiders own 0.62% of the company's stock.

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.

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