Teacher Retirement System of Texas Purchases 62,267 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Teacher Retirement System of Texas lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 687.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,328 shares of the semiconductor company's stock after purchasing an additional 62,267 shares during the period. Teacher Retirement System of Texas' holdings in Synopsys were worth $30,589,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Dynamic Advisor Solutions LLC purchased a new position in Synopsys during the 1st quarter valued at $1,000,000. Bancreek Capital Management LP bought a new stake in shares of Synopsys during the 4th quarter valued at about $3,827,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Synopsys by 3.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 20,172 shares of the semiconductor company's stock valued at $8,651,000 after purchasing an additional 655 shares in the last quarter. Cullen Frost Bankers Inc. increased its position in shares of Synopsys by 5.4% during 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 during the period. Finally, Andra AP fonden raised its stake in Synopsys by 61.1% in the fourth quarter. Andra AP fonden now owns 11,600 shares of the semiconductor company's stock worth $5,630,000 after buying an additional 4,400 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on SNPS shares. Piper Sandler reaffirmed an "overweight" rating and set a $615.00 price objective (down from $653.00) on shares of Synopsys in a research report on Thursday, May 29th. Bank of America dropped their price target on Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Needham & Company LLC reaffirmed a "buy" rating and issued a $650.00 price target on shares of Synopsys in a research note on Thursday, May 29th. Stifel Nicolaus set a $550.00 price objective on Synopsys in a research report on Monday, April 28th. Finally, Rosenblatt Securities dropped their target price on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $607.14.

Insider Transactions at Synopsys

In other Synopsys news, CFO Shelagh Glaser sold 7,310 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer owned 15,291 shares in the company, valued at approximately $7,427,144.52. This represents a 32.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were 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. The trade was a 13.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,686 shares of company stock worth $13,001,048 over the last quarter. 0.62% of the stock is currently owned by insiders.

Synopsys Stock Performance

Shares of SNPS stock opened at $546.76 on Friday. The company has a market capitalization of $84.83 billion, a price-to-earnings ratio of 39.48, a price-to-earnings-growth ratio of 3.45 and a beta of 1.12. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02. Synopsys, Inc. has a one year low of $365.74 and a one year high of $624.80. The company's 50-day moving average is $487.88 and its 200 day moving average is $477.92.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its quarterly 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. The firm had revenue of $1.60 billion for 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.00 earnings per share. Sell-side analysts expect that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

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.

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