Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Arizona State Retirement System

Arizona State Retirement System raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 2.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,336 shares of the semiconductor company's stock after buying an additional 1,071 shares during the quarter. Arizona State Retirement System's holdings in Synopsys were worth $19,442,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Ameriflex Group Inc. purchased a new position in shares of Synopsys during the 4th quarter worth $29,000. Cornerstone Planning Group LLC raised its position in shares of Synopsys by 275.0% in the 1st 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 period. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Synopsys in the 4th quarter worth $34,000. Cloud Capital Management LLC purchased a new position in shares of Synopsys in the 1st quarter worth $36,000. Finally, Hazlett Burt & Watson Inc. raised its position in shares of Synopsys by 28.6% in 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 Stock Down 1.2%

NASDAQ:SNPS traded down $6.91 during mid-day trading on Friday, reaching $559.28. The stock had a trading volume of 1,358,473 shares, compared to its average volume of 1,193,656. The company has a market capitalization of $86.78 billion, a price-to-earnings ratio of 40.38, a price-to-earnings-growth ratio of 3.69 and a beta of 1.12. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $621.24. The stock's 50 day simple moving average is $499.27 and its two-hundred day simple moving average is $480.04. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, beating 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 company 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 firm posted $3.00 earnings per share. Synopsys's quarterly revenue was up 10.3% compared to the same quarter last year. Equities analysts anticipate that Synopsys, Inc. will post 10.64 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on SNPS. Rosenblatt Securities cut their price objective on Synopsys from $660.00 to $625.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Piper Sandler reissued an "overweight" rating and issued a $615.00 price objective (down from $653.00) on shares of Synopsys in a research report on Thursday, May 29th. The Goldman Sachs Group began coverage on Synopsys in a research report on Thursday. They issued a "buy" rating and a $620.00 price objective on the stock. Stifel Nicolaus set a $550.00 price objective on Synopsys in a research report on Monday, April 28th. Finally, Bank of America cut their price objective on Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $612.67.

Insider Transactions at Synopsys

In other news, CRO Richard S. Mahoney sold 9,010 shares of the business'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 transaction, the executive directly owned 1,485 shares in the company, valued at approximately $699,746.85. The trade was a 85.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Shelagh Glaser sold 7,310 shares of the business's stock in a transaction that occurred 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 transaction, the chief financial officer 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. Over the last three months, insiders sold 27,686 shares of company stock worth $13,001,048. Company 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.