Free Trial

Charles Schwab Investment Management Inc. Acquires 52,243 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Synopsys logo with Computer and Technology background

Key Points

  • Charles Schwab Investment Management increased its stake in Synopsys, Inc. by 5.5%, owning over 1 million shares valued at approximately $433 million as of the last quarter.
  • Synopsys reported earnings of $3.67 per share, surpassing estimates, with a year-over-year revenue growth of 10.3%.
  • Analysts have set a consensus price target for Synopsys at $622.33, with 13 out of 14 recommending a buy rating.
  • Want stock alerts on Synopsys? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Charles Schwab Investment Management Inc. raised its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 5.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,010,132 shares of the semiconductor company's stock after purchasing an additional 52,243 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.65% of Synopsys worth $433,195,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of SNPS. Cornerstone Planning Group LLC lifted its holdings in Synopsys by 275.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock worth $25,000 after buying an additional 44 shares during the last quarter. Ameriflex Group Inc. bought a new stake in shares of Synopsys in the 4th quarter worth approximately $29,000. Cloud Capital Management LLC bought a new stake in shares of Synopsys in the 1st quarter worth approximately $36,000. Meeder Asset Management Inc. lifted its holdings in shares of Synopsys by 33.3% in the 1st quarter. Meeder Asset Management Inc. now owns 104 shares of the semiconductor company's stock worth $45,000 after purchasing an additional 26 shares during the last quarter. Finally, GoalVest Advisory LLC bought a new stake in shares of Synopsys in the 1st quarter worth approximately $50,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Synopsys

In other Synopsys news, CFO Shelagh Glaser sold 7,310 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $485.72, for a total value of $3,550,613.20. Following the completion of the sale, the chief financial officer owned 15,291 shares of the company's stock, valued at $7,427,144.52. The trade was a 32.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Richard S. Mahoney sold 9,010 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total value of $4,245,602.10. Following the completion of the sale, the executive directly owned 1,485 shares of the company's stock, valued at $699,746.85. This represents a 85.85% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,686 shares of company stock valued at $13,001,048. Insiders own 0.62% of the company's stock.

Analyst Ratings Changes

SNPS has been the topic of several recent research reports. Bank of America raised their price target on Synopsys from $575.00 to $625.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Stifel Nicolaus set a $550.00 price target on Synopsys in a report on Monday, April 28th. Piper Sandler raised their target price on Synopsys from $615.00 to $660.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. The Goldman Sachs Group began coverage on Synopsys in a research report on Thursday, July 10th. They issued a "buy" rating and a $620.00 target price on the stock. Finally, Mizuho lowered 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. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $622.33.

Read Our Latest Research Report on SNPS

Synopsys Stock Down 0.1%

Shares of Synopsys stock traded down $0.91 during midday trading on Friday, hitting $619.42. The company's stock had a trading volume of 700,625 shares, compared to its average volume of 2,474,175. The firm has a market capitalization of $96.11 billion, a P/E ratio of 44.72, a PEG ratio of 4.10 and a beta of 1.15. The stock has a 50-day simple moving average of $544.48 and a 200-day simple moving average of $494.74. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $651.73.

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

About Synopsys

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

Should You Invest $1,000 in Synopsys Right Now?

Before you consider Synopsys, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Synopsys wasn't on the list.

While Synopsys currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Stocks to Buy And Hold Forever Cover

Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Buy-the-Dip Stocks Poised to Rebound Soon
Quantum Boom: 3 Strong Picks with Lower Risk
3 Overlooked AI Stocks That Chipmakers Can’t Live Without

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines