Sustainable Growth Advisers LP Purchases 37,149 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Sustainable Growth Advisers LP boosted its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 2.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,575,732 shares of the semiconductor company's stock after buying an additional 37,149 shares during the quarter. Synopsys makes up about 3.8% of Sustainable Growth Advisers LP's holdings, making the stock its 9th biggest position. Sustainable Growth Advisers LP owned approximately 1.02% of Synopsys worth $675,753,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Ameriflex Group Inc. bought a new position in Synopsys during the fourth quarter valued at approximately $29,000. Cornerstone Planning Group LLC lifted its position in shares of Synopsys by 275.0% in the first 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. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Synopsys during the 4th quarter worth about $34,000. Cloud Capital Management LLC bought a new stake in Synopsys during the first quarter worth approximately $36,000. Finally, Hazlett Burt & Watson Inc. boosted its holdings 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 worth $44,000 after buying an additional 20 shares during the period. Institutional investors and hedge funds own 85.47% of the company's stock.

Synopsys Trading Down 0.8%

SNPS traded down $4.74 during mid-day trading on Thursday, reaching $609.68. The stock had a trading volume of 1,414,225 shares, compared to its average volume of 2,327,503. The firm's fifty day simple moving average is $514.19 and its two-hundred day simple moving average is $485.44. The stock has a market capitalization of $94.60 billion, a P/E ratio of 44.02, a P/E/G ratio of 4.07 and a beta of 1.12. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $618.49. 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 announced its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, topping analysts' consensus estimates of $3.40 by $0.27. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period last year, the company earned $3.00 earnings per share. The company's revenue was up 10.3% on a year-over-year basis. On average, equities analysts predict that Synopsys, Inc. will post 10.64 EPS for the current year.

Analysts Set New Price Targets

SNPS has been the topic of a number of research analyst reports. The Goldman Sachs Group initiated coverage on Synopsys in a research report on Thursday, July 10th. They issued a "buy" rating and a $620.00 price target on the stock. Mizuho decreased their price target on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Piper Sandler upped their price objective on shares of Synopsys from $615.00 to $660.00 and gave the company an "overweight" rating in a research report on Monday. Needham & Company LLC reissued a "buy" rating and set a $660.00 target price (up from $650.00) on shares of Synopsys in a research report on Tuesday, July 15th. Finally, Rosenblatt Securities reduced their target price on Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Synopsys presently has a consensus rating of "Moderate Buy" and a consensus price target of $620.67.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction 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 sale, the chief executive officer owned 71,589 shares in the company, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CRO Richard S. Mahoney sold 9,010 shares of the firm's stock in a transaction on 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 transaction, the executive owned 1,485 shares in the company, valued at $699,746.85. This represents a 85.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,686 shares of company stock valued at $13,001,048. 0.62% of the stock is currently owned by insiders.

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.