Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Bensler LLC

Bensler LLC raised its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 19.1% in the first quarter, Holdings Channel.com reports. The firm owned 13,568 shares of the semiconductor company’s stock after buying an additional 2,180 shares during the period. Bensler LLC’s holdings in Synopsys were worth $5,819,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Ameriflex Group Inc. acquired a new stake in Synopsys during the 4th quarter valued at approximately $29,000. Whipplewood Advisors LLC acquired a new position in shares of Synopsys in the 4th quarter worth approximately $33,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Synopsys in the 4th quarter worth approximately $34,000. Sierra Ocean LLC acquired a new position in shares of Synopsys in the 4th quarter worth approximately $39,000. Finally, Hazlett Burt & Watson Inc. grew its position in shares of Synopsys by 28.6% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 20 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insiders Place Their Bets

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the completion of the transaction, the chief executive officer now owns 71,589 shares in the company, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Shelagh Glaser sold 7,310 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now owns 15,291 shares of the company’s stock, valued at $7,427,144.52. This trade represents a 32.34% decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by insiders.

Synopsys Stock Performance

Shares of SNPS stock opened at $494.99 on Friday. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80. The stock has a fifty day moving average of $464.37 and a two-hundred day moving average of $482.35. The firm has a market capitalization of $76.80 billion, a PE ratio of 34.09, a price-to-earnings-growth ratio of 3.23 and a beta of 1.11.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.40 by $0.27. Synopsys had a return on equity of 20.48% and a net margin of 36.12%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the previous year, the firm posted $3.00 EPS. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. Equities research analysts predict that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SNPS has been the subject of several research reports. Morgan Stanley decreased their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Wells Fargo & Company decreased their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. KeyCorp set a $540.00 target price on Synopsys in a research report on Tuesday, June 3rd. Mizuho decreased their target price on Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Finally, Rosenblatt Securities reduced their price objective on Synopsys from $660.00 to $625.00 and set a “buy” rating for the company in a research report on Thursday, May 29th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Synopsys has an average rating of “Moderate Buy” and an average price target of $607.14.

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.