Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Davidson Capital Management Inc.

Davidson Capital Management Inc. lifted its position in Synopsys, Inc. (NASDAQ:SNPS) by 8.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,348 shares of the semiconductor company’s stock after acquiring an additional 474 shares during the quarter. Davidson Capital Management Inc.’s holdings in Synopsys were worth $2,722,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SNPS. Brighton Jones LLC increased its stake in Synopsys by 5.7% during the fourth quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company’s stock valued at $447,000 after purchasing an additional 50 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of Synopsys in the 4th quarter valued at about $17,162,000. Principal Securities Inc. grew its position in shares of Synopsys by 6.0% during the 4th quarter. Principal Securities Inc. now owns 2,277 shares of the semiconductor company’s stock valued at $1,105,000 after buying an additional 128 shares during the last quarter. Allworth Financial LP raised its stake in Synopsys by 5.6% during the fourth quarter. Allworth Financial LP now owns 2,425 shares of the semiconductor company’s stock worth $1,177,000 after acquiring an additional 128 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Synopsys by 4.6% during the fourth quarter. Principal Financial Group Inc. now owns 259,257 shares of the semiconductor company’s stock worth $125,833,000 after acquiring an additional 11,291 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Shelagh Glaser sold 7,310 shares of the company’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 completion of the sale, the chief financial officer now owns 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction dated 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 transaction, the chief executive officer now directly owns 71,589 shares in the company, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is owned by corporate insiders.

Synopsys Price Performance

Shares of NASDAQ SNPS opened at $473.62 on Thursday. The stock has a market cap of $73.49 billion, a P/E ratio of 34.20, a P/E/G ratio of 3.14 and a beta of 1.11. The firm’s 50-day simple moving average is $470.10 and its 200 day simple moving average is $480.27. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $624.80. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01.

Synopsys (NASDAQ:SNPS) last released its 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 for the quarter, compared to analysts’ expectations of $1.60 billion. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. Synopsys’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. Equities analysts expect that Synopsys, Inc. will post 10.64 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Bank of America lowered their target price on Synopsys from $630.00 to $560.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Piper Sandler restated an “overweight” rating and set a $615.00 price objective (down previously from $653.00) on shares of Synopsys in a research report on Thursday, May 29th. Mizuho dropped their target price on Synopsys from $650.00 to $600.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. KeyCorp set a $540.00 target price on Synopsys in a research note on Tuesday, June 3rd. Finally, Morgan Stanley lowered their price target on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $607.14.

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.