Victory Capital Management Inc. Acquires 18,821 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Victory Capital Management Inc. boosted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 9.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 215,001 shares of the semiconductor company's stock after buying an additional 18,821 shares during the quarter. Victory Capital Management Inc. owned approximately 0.14% of Synopsys worth $92,203,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Synopsys during the fourth quarter valued at $583,608,000. GAMMA Investing LLC lifted its holdings in shares of Synopsys by 54,286.0% in the 1st quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company's stock valued at $513,116,000 after buying an additional 1,194,292 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Synopsys by 21.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock valued at $2,864,933,000 after acquiring an additional 1,045,326 shares during the last quarter. Capital Research Global Investors bought a new stake in Synopsys in the fourth quarter valued at about $239,864,000. Finally, Ameriprise Financial Inc. lifted its position in Synopsys by 26.2% in the fourth quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock worth $916,441,000 after purchasing an additional 391,681 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Synopsys Stock Performance

SNPS opened at $589.01 on Friday. The stock's 50 day moving average price is $506.50 and its two-hundred day moving average price is $482.28. 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 capitalization of $91.39 billion, a P/E ratio of 42.53, a price-to-earnings-growth ratio of 3.78 and a beta of 1.12. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $593.98.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its earnings results 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. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.60 billion. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. Synopsys's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the company earned $3.00 EPS. On average, equities analysts forecast that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Synopsys in a report on Thursday, July 10th. They set a "buy" rating and a $620.00 price objective for the company. Rosenblatt Securities dropped their price target on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. KeyCorp boosted their price objective on shares of Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Stifel Nicolaus set a $550.00 price objective on shares of Synopsys in a research report on Monday, April 28th. Finally, Mizuho cut their target price on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Synopsys presently has a consensus rating of "Moderate Buy" and a consensus target price of $617.67.

Insider Buying and Selling at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of Synopsys 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 transaction, the chief executive officer directly owned 71,589 shares in the company, valued at $32,782,750.77. This trade represents a 13.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Shelagh Glaser sold 7,310 shares of the business's stock in a transaction dated 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 sale, the chief financial officer owned 15,291 shares of the company's stock, valued at $7,427,144.52. The trade was a 32.34% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,686 shares of company stock worth $13,001,048. 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.

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