Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 12.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 56,514 shares of the semiconductor company’s stock after purchasing an additional 6,236 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Synopsys were worth $24,236,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SNPS. KeyCorp set a $540.00 target price on Synopsys in a research report on Tuesday, June 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a research report on Thursday, May 29th. Wells Fargo & Company dropped their price objective on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a research report on Monday, April 28th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $615.00 price target (down from $653.00) on shares of Synopsys in a report on Thursday, May 29th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $607.14.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction dated 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 now owns 71,589 shares of the company’s stock, 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 at this link. 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 of the company’s stock, valued at approximately $7,427,144.52. The trade was a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is owned by insiders.

Synopsys Price Performance

SNPS opened at $475.40 on Wednesday. The company has a market capitalization of $73.76 billion, a P/E ratio of 34.32, a PEG ratio of 3.17 and a beta of 1.11. The company has a 50-day moving average of $469.20 and a 200-day moving average of $480.32. 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 1-year low of $365.74 and a 1-year high of $624.80.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.40 by $0.27. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the company earned $3.00 earnings per share. Synopsys’s quarterly revenue was up 10.3% on a year-over-year basis. Equities analysts expect that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

About Synopsys

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.