Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its position in Synopsys, Inc. (NASDAQ:SNPS) by 0.9% during the first quarter, owning approximately 0.12% of the company worth $78.72 million.
• Synopsys reported earnings of $3.67 per share, exceeding analysts' expectations and reflecting a 10.3% year-over-year revenue increase to $1.6 billion.
• Several analysts have issued positive ratings for Synopsys, with a consensus rating of "Moderate Buy" and an average target price of $622.33.

Public Sector Pension Investment Board raised its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 183,560 shares of the semiconductor company's stock after acquiring an additional 1,714 shares during the period. Public Sector Pension Investment Board owned approximately 0.12% of Synopsys worth $78,720,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SNPS. Advisors Capital Management LLC raised its holdings in Synopsys by 2.3% in the 4th quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company's stock valued at $408,000 after buying an additional 19 shares during the period. Peninsula Wealth LLC raised its holdings in Synopsys by 0.5% in the 4th quarter. Peninsula Wealth LLC now owns 4,224 shares of the semiconductor company's stock valued at $2,050,000 after buying an additional 20 shares during the period. Williams Jones Wealth Management LLC. raised its holdings in Synopsys by 0.5% in the 4th quarter. Williams Jones Wealth Management LLC. now owns 4,650 shares of the semiconductor company's stock valued at $2,257,000 after buying an additional 22 shares during the period. Hardy Reed LLC raised its holdings in Synopsys by 0.7% in the 1st quarter. Hardy Reed LLC now owns 3,290 shares of the semiconductor company's stock valued at $1,411,000 after buying an additional 22 shares during the period. Finally, Resurgent Financial Advisors LLC raised its holdings in Synopsys by 2.7% in the 1st quarter. Resurgent Financial Advisors LLC now owns 832 shares of the semiconductor company's stock valued at $357,000 after buying an additional 22 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Down 1.2%

Shares of Synopsys stock traded down $7.23 on Wednesday, reaching $618.57. 1,012,256 shares of the company were exchanged, compared to its average volume of 2,134,364. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $651.73. The company has a market cap of $95.98 billion, a P/E ratio of 44.66, a price-to-earnings-growth ratio of 4.14 and a beta of 1.15. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85. The stock's 50 day moving average price is $553.58 and its 200-day moving average price is $496.59.

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 business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the previous year, the company posted $3.00 earnings per share. The business's revenue for the quarter was up 10.3% on a year-over-year basis. As a group, equities analysts forecast that Synopsys, Inc. will post 10.64 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on SNPS. KeyCorp boosted their price objective on shares of Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. The Goldman Sachs Group began coverage on shares of Synopsys in a report on Thursday, July 10th. They issued a "buy" rating and a $620.00 price objective on the stock. Rosenblatt Securities boosted their price objective on shares of Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a report on Friday, July 25th. Stifel Nicolaus set a $550.00 price target on shares of Synopsys in a research note on Monday, April 28th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $660.00 price target (up from $650.00) on shares of Synopsys in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $630.67.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the business'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 completion of the transaction, the chief executive officer directly owned 71,589 shares of the company's stock, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Richard S. Mahoney sold 9,010 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The shares were 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 directly owned 1,485 shares of the company's stock, valued at $699,746.85. This trade 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 sold 27,686 shares of company stock valued at $13,001,048. 0.62% of the stock is currently owned by corporate insiders.

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.