Vestmark Advisory Solutions Inc. Boosts Stake in Synopsys, Inc. $SNPS

Key Points

• Vestmark Advisory Solutions Inc. increased its position in Synopsys, Inc. shares by 107.7% to 12,082 shares, valued at approximately $5.18 million, during the 1st quarter according to their latest SEC filing.
• Multiple institutional investors, including Vanguard Group Inc. and Pictet Asset Management, have significantly increased their stakes in Synopsys, highlighting a trend of growing interest, as institutional owners now hold 85.47% of the company's stock.
• Wall Street analysts have a positive outlook on Synopsys, with an average target price of $630.67 and most analysts rating the stock as a “buy”, reflecting strong growth expectations amidst a recent increase in earnings per share.

Vestmark Advisory Solutions Inc. lifted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 107.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,082 shares of the semiconductor company's stock after acquiring an additional 6,264 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in Synopsys were worth $5,181,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC increased 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 valued at $25,000 after purchasing an additional 44 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Synopsys by 441.7% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 53 shares during the last quarter. Ameriflex Group Inc. purchased a new position in Synopsys during the fourth quarter valued at approximately $29,000. Cloud Capital Management LLC purchased a new stake in shares of Synopsys in the first quarter valued at approximately $36,000. Finally, Meeder Asset Management Inc. increased its position in shares of Synopsys by 33.3% during the first quarter. Meeder Asset Management Inc. now owns 104 shares of the semiconductor company's stock worth $45,000 after purchasing an additional 26 shares in the last quarter. Institutional investors own 85.47% of the company's stock.

Synopsys Price Performance

SNPS stock traded up $1.55 during midday trading on Friday, reaching $617.91. 881,572 shares of the company's stock traded hands, compared to its average volume of 1,514,814. The company has a 50-day simple moving average of $558.90 and a two-hundred day simple moving average of $497.65. The company has a market cap of $95.87 billion, a price-to-earnings ratio of 44.61, a PEG ratio of 4.09 and a beta of 1.15. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $651.73. 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 (NASDAQ:SNPS - Get Free Report) last announced its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, topping analysts' consensus estimates of $3.40 by $0.27. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.60 billion. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The firm's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the company earned $3.00 earnings per share. On average, analysts anticipate that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SNPS. Rosenblatt Securities increased their price objective on Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a report on Friday, July 25th. Bank of America boosted their price objective on Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a research note on Monday, April 28th. Needham & Company LLC restated a "buy" rating and set a $660.00 price target (up from $650.00) on shares of Synopsys in a report on Tuesday, July 15th. Finally, The Goldman Sachs Group assumed coverage on shares of Synopsys in a report on Thursday, July 10th. They set a "buy" rating and a $620.00 price objective for the company. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $630.67.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction dated 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 sale, the chief executive officer directly owned 71,589 shares in the company, valued at $32,782,750.77. This represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Shelagh Glaser sold 7,310 shares of the stock in a transaction on 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 sale, the chief financial officer directly owned 15,291 shares of the company's stock, valued at approximately $7,427,144.52. This represents a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,686 shares of company stock worth $13,001,048 in the last 90 days. Insiders own 0.62% of the company's stock.

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.