CGN Advisors LLC Buys 1,419 Shares of Synopsys, Inc. (NASDAQ:SNPS)

CGN Advisors LLC boosted its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 51.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,186 shares of the semiconductor company's stock after purchasing an additional 1,419 shares during the quarter. CGN Advisors LLC's holdings in Synopsys were worth $1,795,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SNPS. Norges Bank acquired a new stake in shares of Synopsys during the 4th quarter worth approximately $583,608,000. GAMMA Investing LLC increased its stake in shares of Synopsys by 54,286.0% in the 1st quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company's stock valued at $513,116,000 after purchasing an additional 1,194,292 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings 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 buying an additional 1,045,326 shares in the last quarter. Capital Research Global Investors acquired a new stake in Synopsys in the fourth quarter valued at about $239,864,000. Finally, Raymond James Financial Inc. bought a new position in shares of Synopsys in the fourth quarter worth about $199,065,000. Institutional investors own 85.47% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SNPS shares. Piper Sandler reissued an "overweight" rating and issued a $615.00 price objective (down previously from $653.00) on shares of Synopsys in a research note on Thursday, May 29th. Morgan Stanley lowered their target price on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research report on Monday, February 24th. Mizuho reduced their price objective on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Rosenblatt Securities decreased their target price on Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Finally, Wells Fargo & Company dropped their price target on Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Synopsys presently has an average rating of "Moderate Buy" and a consensus price target of $609.64.

Insiders Place Their Bets

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 transaction, the chief executive officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Geus Aart De sold 15,705 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the transaction, the insider now directly owns 116,671 shares of the company's stock, valued at $51,850,925.82. The trade was a 11.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by insiders.

Synopsys Stock Up 1.5%

SNPS stock traded up $6.93 during mid-day trading on Wednesday, reaching $473.19. 972,364 shares of the company traded hands, compared to its average volume of 1,141,995. The firm's 50 day moving average price is $454.18 and its 200 day moving average price is $484.63. The stock has a market cap of $73.42 billion, a price-to-earnings ratio of 32.59, a P/E/G ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week 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 the consensus estimate of $3.40 by $0.27. Synopsys had a return on equity of 20.48% and a net margin of 36.12%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the company posted $3.00 earnings per share. Synopsys's revenue was up 10.3% compared to the same quarter last year. On average, analysts anticipate that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

About Synopsys

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.