Synopsys, Inc. (NASDAQ:SNPS) Holdings Raised by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky grew its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 26.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 48,840 shares of the semiconductor company's stock after acquiring an additional 10,229 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Synopsys were worth $20,945,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in SNPS. Cornerstone Planning Group LLC grew its position in 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 purchasing an additional 44 shares during the last quarter. Ameriflex Group Inc. purchased a new stake in shares of Synopsys in the fourth quarter valued at about $29,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Synopsys in the 4th quarter valued at about $34,000. Cloud Capital Management LLC purchased a new position in shares of Synopsys in the 1st quarter valued at about $36,000. Finally, Hazlett Burt & Watson Inc. grew its stake in Synopsys by 28.6% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock valued at $44,000 after acquiring an additional 20 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Stock Performance

SNPS traded up $6.70 during midday trading on Monday, reaching $591.46. The company had a trading volume of 2,444,749 shares, compared to its average volume of 1,274,437. 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 business has a 50-day moving average of $508.54 and a two-hundred day moving average of $482.95. The company has a market cap of $91.77 billion, a P/E ratio of 59.43, a P/E/G ratio of 3.87 and a beta of 1.12. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $600.90.

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 for the quarter, topping analysts' consensus estimates of $3.40 by $0.27. The firm had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.60 billion. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The business's quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the firm earned $3.00 EPS. As a group, equities research analysts predict that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Mizuho cut their target price on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Piper Sandler boosted their target price on shares of Synopsys from $615.00 to $660.00 and gave the stock an "overweight" rating in a research report on Monday. KeyCorp boosted their target price on shares of Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a research report on Monday, April 28th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $660.00 price objective (up from $650.00) on shares of Synopsys in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $620.67.

Insiders Place Their Bets

In other Synopsys news, CFO Shelagh Glaser sold 7,310 shares of the firm's stock in a transaction dated 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 trade represents a 32.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Richard S. Mahoney sold 9,010 shares of the firm's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total value of $4,245,602.10. Following the transaction, the executive directly owned 1,485 shares in the company, valued at approximately $699,746.85. This represents a 85.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,686 shares of company stock worth $13,001,048 over the last ninety days. Corporate 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.