Xponance Inc. Purchases 973 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Xponance Inc. boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 2.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 41,739 shares of the semiconductor company's stock after purchasing an additional 973 shares during the quarter. Xponance Inc.'s holdings in Synopsys were worth $17,900,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in SNPS. Norges Bank acquired a new stake in Synopsys during the 4th quarter worth $583,608,000. GAMMA Investing LLC boosted its position 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 worth $513,116,000 after purchasing an additional 1,194,292 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Synopsys by 21.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock worth $2,864,933,000 after purchasing an additional 1,045,326 shares during the period. 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 stake in Synopsys by 26.2% in the fourth quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock valued at $916,441,000 after buying an additional 391,681 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Synopsys news, 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 sale, the chief executive officer owned 71,589 shares in the company, valued at $32,782,750.77. This trade represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction of $3,550,613.20. Following the transaction, the chief financial officer owned 15,291 shares in the company, valued at $7,427,144.52. This represents a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,686 shares of company stock worth $13,001,048. Insiders own 0.62% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Piper Sandler reaffirmed an "overweight" rating and issued a $615.00 price target (down from $653.00) on shares of Synopsys in a research note on Thursday, May 29th. Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a report on Monday, April 28th. Rosenblatt Securities decreased their price target on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Needham & Company LLC reaffirmed a "buy" rating and set a $650.00 price objective on shares of Synopsys in a research note on Thursday, May 29th. Finally, Mizuho decreased their target price on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Synopsys has a consensus rating of "Moderate Buy" and an average price target of $612.67.

Synopsys Trading Up 2.8%

Synopsys stock opened at $566.19 on Friday. The company has a market cap of $87.85 billion, a price-to-earnings ratio of 40.88, a P/E/G ratio of 3.64 and a beta of 1.12. The firm has a 50-day moving average of $497.53 and a 200-day moving average of $479.77. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85. Synopsys, Inc. has a one year low of $365.74 and a one year high of $624.80.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, beating the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.00 earnings per share. On average, equities analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

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.

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