New York State Common Retirement Fund Has $139.54 Million Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

New York State Common Retirement Fund lowered its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 3.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 325,378 shares of the semiconductor company's stock after selling 12,153 shares during the period. New York State Common Retirement Fund owned approximately 0.21% of Synopsys worth $139,538,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SNPS. Arizona State Retirement System lifted its position in shares of Synopsys by 2.4% during the 1st quarter. Arizona State Retirement System now owns 45,336 shares of the semiconductor company's stock worth $19,442,000 after purchasing an additional 1,071 shares during the last quarter. Ballentine Partners LLC grew its stake in shares of Synopsys by 55.6% in the 1st quarter. Ballentine Partners LLC now owns 1,329 shares of the semiconductor company's stock valued at $570,000 after purchasing an additional 475 shares during the period. Harmony Asset Management LLC grew its stake in shares of Synopsys by 356.1% in the 1st quarter. Harmony Asset Management LLC now owns 3,945 shares of the semiconductor company's stock valued at $1,692,000 after purchasing an additional 3,080 shares during the period. Xponance Inc. grew its stake in shares of Synopsys by 2.4% in the 1st quarter. Xponance Inc. now owns 41,739 shares of the semiconductor company's stock valued at $17,900,000 after purchasing an additional 973 shares during the period. Finally, State of Michigan Retirement System grew its stake in shares of Synopsys by 0.5% in the 1st quarter. State of Michigan Retirement System now owns 44,527 shares of the semiconductor company's stock valued at $19,095,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 85.47% of the company's stock.

Synopsys Trading Down 1.2%

NASDAQ:SNPS traded down $6.91 during trading hours on Friday, hitting $559.28. 1,358,473 shares of the stock were exchanged, compared to its average volume of 1,193,656. The company's 50 day moving average is $499.27 and its two-hundred day moving average is $480.04. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $621.24. 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 company has a market capitalization of $86.78 billion, a P/E ratio of 40.38, a price-to-earnings-growth ratio of 3.69 and a beta of 1.12.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.27. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the business earned $3.00 EPS. The business's revenue for the quarter was up 10.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, 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 transaction, the chief financial officer owned 15,291 shares of the company's stock, valued at $7,427,144.52. This represents a 32.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $457.93, for a total value of $5,204,832.38. Following the completion of the transaction, 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 27,686 shares of company stock valued at $13,001,048. 0.62% of the stock is currently owned by corporate insiders.

Synopsys Company 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.