Torray Investment Partners LLC Grows Position in Synopsys, Inc. (NASDAQ:SNPS)

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Torray Investment Partners LLC lifted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 10.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,054 shares of the semiconductor company's stock after acquiring an additional 1,749 shares during the quarter. Torray Investment Partners LLC's holdings in Synopsys were worth $7,742,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisors Capital Management LLC raised its holdings in Synopsys by 2.3% in the fourth quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company's stock worth $408,000 after purchasing an additional 19 shares in the last quarter. Peninsula Wealth LLC increased its holdings in shares of Synopsys by 0.5% during the fourth quarter. Peninsula Wealth LLC now owns 4,224 shares of the semiconductor company's stock valued at $2,050,000 after acquiring an additional 20 shares in the last quarter. Williams Jones Wealth Management LLC. increased its holdings in shares of Synopsys by 0.5% during the fourth quarter. Williams Jones Wealth Management LLC. now owns 4,650 shares of the semiconductor company's stock valued at $2,257,000 after acquiring an additional 22 shares in the last quarter. Hardy Reed LLC increased its holdings in shares of Synopsys by 0.7% during the first quarter. Hardy Reed LLC now owns 3,290 shares of the semiconductor company's stock valued at $1,411,000 after acquiring an additional 22 shares in the last quarter. Finally, Resurgent Financial Advisors LLC increased its holdings in shares of Synopsys by 2.7% during the first quarter. Resurgent Financial Advisors LLC now owns 832 shares of the semiconductor company's stock valued at $357,000 after acquiring an additional 22 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

Synopsys Stock Up 1.5%

Shares of SNPS opened at $645.35 on Thursday. The business's 50 day moving average is $524.65 and its 200 day moving average is $489.58. The company has a market capitalization of $100.13 billion, a PE ratio of 46.60, a price-to-earnings-growth ratio of 4.21 and a beta of 1.12. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $651.73. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01.

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

Insider Activity at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 9,010 shares of Synopsys stock in a transaction that occurred on 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 sale, the executive owned 1,485 shares of the company's stock, valued at $699,746.85. The trade was a 85.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $457.93, for a total value of $5,204,832.38. Following the completion of 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. In the last 90 days, insiders have sold 27,686 shares of company stock valued at $13,001,048. 0.62% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SNPS. KeyCorp raised their price target on Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Piper Sandler lifted their price objective on Synopsys from $615.00 to $660.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. The Goldman Sachs Group began coverage on Synopsys in a report on Thursday, July 10th. They issued a "buy" rating and a $620.00 price objective for the company. Bank of America lifted their price objective on Synopsys from $575.00 to $625.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Finally, Rosenblatt Securities lifted their price objective on Synopsys from $625.00 to $650.00 and gave the stock a "buy" rating in a report on Friday, July 25th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Synopsys presently has an average rating of "Moderate Buy" and a consensus target price of $622.33.

About Synopsys

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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