Citigroup Inc. raised its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 67.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 292,758 shares of the semiconductor company's stock after acquiring an additional 118,206 shares during the quarter. Citigroup Inc. owned approximately 0.19% of Synopsys worth $125,549,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Ameriflex Group Inc. acquired a new stake in Synopsys in the fourth quarter valued at $29,000. Cornerstone Planning Group LLC boosted its holdings 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 buying an additional 44 shares during the period. Cloud Capital Management LLC bought a new stake in shares of Synopsys during the 1st quarter worth about $36,000. Meeder Asset Management Inc. boosted its holdings in shares of Synopsys by 33.3% during the 1st quarter. Meeder Asset Management Inc. now owns 104 shares of the semiconductor company's stock worth $45,000 after buying an additional 26 shares during the period. Finally, GoalVest Advisory LLC bought a new stake in shares of Synopsys during the 1st quarter worth about $50,000. Institutional investors and hedge funds own 85.47% of the company's stock.
Analyst Ratings Changes
Several analysts recently commented on the stock. Rosenblatt Securities lifted their target price on shares of Synopsys from $625.00 to $650.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Mizuho reduced their target price on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. KeyCorp lifted their target price on shares of Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Piper Sandler lifted their target price on shares of Synopsys from $615.00 to $660.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Finally, Bank of America lifted their target price on shares of Synopsys from $575.00 to $625.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Synopsys currently has a consensus rating of "Moderate Buy" and an average price target of $622.33.
Check Out Our Latest Research Report on SNPS
Insider Activity
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 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 in the company, valued at approximately $699,746.85. The trade was a 85.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Shelagh Glaser sold 7,310 shares of the company'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 transaction 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. In the last ninety days, insiders sold 27,686 shares of company stock worth $13,001,048. 0.62% of the stock is currently owned by corporate insiders.
Synopsys Price Performance
Shares of NASDAQ:SNPS traded down $0.91 during midday trading on Friday, hitting $619.42. The stock had a trading volume of 700,625 shares, compared to its average volume of 2,441,283. The company's 50-day moving average price is $544.48 and its 200-day moving average price is $494.35. The company has a market capitalization of $96.11 billion, a P/E ratio of 44.72, a price-to-earnings-growth ratio of 4.10 and a beta of 1.15. 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, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $651.73.
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 the consensus estimate of $3.40 by $0.27. The company 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 business's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company earned $3.00 EPS. As a group, equities research analysts predict that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.
Synopsys Profile
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Free Report)
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.
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