Illinois Municipal Retirement Fund Increases Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Illinois Municipal Retirement Fund boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,347 shares of the semiconductor company’s stock after acquiring an additional 1,163 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Synopsys were worth $19,876,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ameriflex Group Inc. purchased a new position in Synopsys during the 4th quarter valued at about $29,000. Whipplewood Advisors LLC purchased a new position in Synopsys during the 4th quarter valued at about $33,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Synopsys during the 4th quarter valued at about $34,000. Hazlett Burt & Watson Inc. boosted its holdings in Synopsys by 28.6% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock valued at $44,000 after acquiring an additional 20 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC raised its position in Synopsys by 50.8% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 98 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 33 shares in the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 transaction, the executive now directly owns 1,485 shares in the company, valued at approximately $699,746.85. This trade represents a 85.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Shelagh Glaser sold 7,310 shares of Synopsys stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $485.72, for a total value of $3,550,613.20. Following the completion of the transaction, the chief financial officer now owns 15,291 shares in the company, valued at $7,427,144.52. This trade represents a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,686 shares of company stock worth $13,001,048 in the last quarter. 0.62% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SNPS shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $650.00 price target on shares of Synopsys in a research report on Thursday, May 29th. Stifel Nicolaus set a $550.00 price target on Synopsys in a research report on Monday, April 28th. Wells Fargo & Company reduced their price target on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Piper Sandler reaffirmed an “overweight” rating and issued a $615.00 price target (down previously from $653.00) on shares of Synopsys in a research report on Thursday, May 29th. Finally, Rosenblatt Securities reduced their price target on Synopsys from $660.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, May 29th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $607.14.

Synopsys Price Performance

Shares of NASDAQ SNPS opened at $495.70 on Friday. The stock’s 50-day simple moving average is $477.55 and its 200-day simple moving average is $477.60. The firm has a market capitalization of $76.91 billion, a PE ratio of 35.79, a price-to-earnings-growth ratio of 3.22 and a beta of 1.11. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $624.80.

Synopsys (NASDAQ:SNPS) last released 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. The firm 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% compared to the same quarter last year. During the same quarter last year, the business posted $3.00 EPS. As a group, equities research analysts forecast that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

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.