Impax Asset Management Group plc lowered its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 1.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 483,217 shares of the semiconductor company's stock after selling 7,850 shares during the quarter. Synopsys comprises about 1.2% of Impax Asset Management Group plc's holdings, making the stock its 22nd largest position. Impax Asset Management Group plc owned approximately 0.31% of Synopsys worth $207,228,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNPS. Dynamic Advisor Solutions LLC purchased a new stake in shares of Synopsys in the first quarter valued at about $1,000,000. Bancreek Capital Management LP purchased a new stake in Synopsys in the 4th quarter valued at approximately $3,827,000. Wealth Enhancement Advisory Services LLC increased its position in Synopsys by 3.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 20,172 shares of the semiconductor company's stock worth $8,651,000 after purchasing an additional 655 shares during the period. Cullen Frost Bankers Inc. boosted its stake in shares of Synopsys by 5.4% in the fourth quarter. Cullen Frost Bankers Inc. now owns 15,319 shares of the semiconductor company's stock valued at $7,435,000 after buying an additional 791 shares in the last quarter. Finally, Andra AP fonden lifted its holdings in Synopsys by 61.1% in the fourth quarter. Andra AP fonden now owns 11,600 shares of the semiconductor company's stock valued at $5,630,000 after acquiring an additional 4,400 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms recently weighed in on SNPS. Rosenblatt Securities lowered their price target on Synopsys from $660.00 to $625.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Bank of America lowered their price objective on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Needham & Company LLC restated a "buy" rating and set a $650.00 target price on shares of Synopsys in a research report on Thursday, May 29th. Stifel Nicolaus set a $550.00 price target on shares of Synopsys in a report on Monday, April 28th. Finally, KeyCorp set a $540.00 price objective on shares of Synopsys in a research note on Tuesday, June 3rd. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $607.14.
View Our Latest Research Report on SNPS
Insider Buying and Selling
In related news, CEO Sassine Ghazi sold 11,366 shares of the firm'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 sale, the chief executive officer directly owned 71,589 shares in the company, valued at approximately $32,782,750.77. This trade represents a 13.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Shelagh Glaser sold 7,310 shares of Synopsys stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the sale, the chief financial officer owned 15,291 shares in the company, valued at $7,427,144.52. This represents a 32.34% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 27,686 shares of company stock valued at $13,001,048. Company insiders own 0.62% of the company's stock.
Synopsys Trading Up 4.5%
Shares of NASDAQ:SNPS traded up $23.65 during midday trading on Friday, reaching $546.76. The company's stock had a trading volume of 2,020,024 shares, compared to its average volume of 1,177,053. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01. The firm has a market cap of $84.83 billion, a price-to-earnings ratio of 39.48, a price-to-earnings-growth ratio of 3.62 and a beta of 1.12. The business has a 50 day moving average price of $489.89 and a 200 day moving average price of $478.16. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80.
Synopsys (NASDAQ:SNPS - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, topping the consensus estimate of $3.40 by $0.27. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period in the prior year, the firm posted $3.00 EPS. The company's revenue was up 10.3% on a year-over-year basis. Research analysts forecast that Synopsys, Inc. will post 10.64 EPS for the current year.
Synopsys Profile
(
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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