Bensler LLC Acquires 2,180 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Bensler LLC lifted its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 19.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,568 shares of the semiconductor company's stock after purchasing an additional 2,180 shares during the quarter. Bensler LLC's holdings in Synopsys were worth $5,819,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SNPS. Advisors Capital Management LLC raised its stake in Synopsys by 2.3% during the fourth quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company's stock worth $408,000 after acquiring an additional 19 shares in the last quarter. Compagnie Lombard Odier SCmA raised its stake in Synopsys by 1.1% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company's stock worth $898,000 after acquiring an additional 20 shares in the last quarter. Edge Capital Group LLC raised its stake in Synopsys by 1.2% during the fourth quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company's stock worth $791,000 after acquiring an additional 20 shares in the last quarter. Barden Capital Management Inc. raised its stake in Synopsys by 1.1% during the fourth quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company's stock worth $889,000 after acquiring an additional 20 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. raised its stake in Synopsys by 28.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after acquiring an additional 20 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Synopsys news, 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Shelagh Glaser sold 7,310 shares of the firm'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 transaction, the chief financial officer now owns 15,291 shares in the company, valued at approximately $7,427,144.52. This trade represents a 32.34% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.62% of the company's stock.

Synopsys Trading Down 3.3%

Synopsys stock traded down $16.13 during mid-day trading on Friday, hitting $478.86. The stock had a trading volume of 1,162,459 shares, compared to its average volume of 1,156,170. The stock has a 50-day simple moving average of $464.37 and a two-hundred day simple moving average of $482.35. The stock has a market capitalization of $74.30 billion, a PE ratio of 32.98, a P/E/G 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 issued its 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. Synopsys had a return on equity of 20.48% and a net margin of 36.12%. The firm had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.60 billion. During the same quarter last year, the business earned $3.00 earnings per share. The company's revenue was up 10.3% compared to the same quarter last year. Sell-side analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SNPS has been the subject of several recent analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $650.00 price objective on shares of Synopsys in a research note on Thursday, May 29th. Morgan Stanley decreased their target price on Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a report on Monday, February 24th. Bank of America decreased their target price on Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Piper Sandler restated an "overweight" rating and set a $615.00 target price (down previously from $653.00) on shares of Synopsys in a report on Thursday, May 29th. Finally, Rosenblatt Securities decreased their target price on Synopsys from $660.00 to $625.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Synopsys presently has a consensus rating of "Moderate Buy" and a consensus target price 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.