Slow Capital Inc. Acquires 9,458 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Slow Capital Inc. raised its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 154.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,584 shares of the semiconductor company's stock after acquiring an additional 9,458 shares during the quarter. Synopsys makes up about 0.9% of Slow Capital Inc.'s holdings, making the stock its 28th largest holding. Slow Capital Inc.'s holdings in Synopsys were worth $6,683,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC boosted its position in shares of 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 acquiring an additional 44 shares in the last quarter. Ameriflex Group Inc. acquired a new stake in Synopsys in the fourth quarter valued at about $29,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Synopsys during the fourth quarter worth $34,000. Cloud Capital Management LLC purchased a new position in shares of Synopsys in the 1st quarter valued at about $36,000. Finally, Hazlett Burt & Watson Inc. lifted its position in shares of Synopsys by 28.6% during 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. Hedge funds and other institutional investors own 85.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SNPS. Rosenblatt Securities reduced their target price on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Mizuho decreased their target price on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Bank of America cut their price objective on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Piper Sandler reaffirmed 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, 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. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Synopsys has an average rating of "Moderate Buy" and an average price target of $612.67.

Synopsys Stock Down 1.7%

Shares of Synopsys stock traded down $9.75 during trading on Monday, hitting $549.53. 5,083,402 shares of the stock traded hands, compared to its average volume of 1,321,682. The stock has a market cap of $85.27 billion, a P/E ratio of 39.68, a PEG ratio of 3.69 and a beta of 1.12. The company has a fifty day moving average price of $499.27 and a two-hundred day moving average price of $479.93. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $621.24. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its earnings results 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 net margin of 34.77% and a return on equity of 17.09%. The company's revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company earned $3.00 earnings per share. Equities research analysts predict that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other Synopsys news, CRO Richard S. Mahoney sold 9,010 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the completion of the sale, the executive owned 1,485 shares of the company's stock, valued at $699,746.85. This represents a 85.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the transaction, the chief executive officer directly owned 71,589 shares in the company, valued at approximately $32,782,750.77. This represents a 13.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,686 shares of company stock valued at $13,001,048 over the last quarter. Insiders own 0.62% of the company's stock.

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.