Argonautica Private Wealth Management Inc. Acquires Shares of 1,395 Synopsys, Inc. (NASDAQ:SNPS)

Argonautica Private Wealth Management Inc. acquired a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,395 shares of the semiconductor company’s stock, valued at approximately $598,000.

A number of other institutional investors have also modified their holdings of the stock. Dynamic Advisor Solutions LLC purchased a new stake in Synopsys in the first quarter valued at approximately $1,000,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Synopsys by 3.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 20,172 shares of the semiconductor company’s stock worth $8,651,000 after acquiring an additional 655 shares during the period. Integrated Advisors Network LLC increased its position in shares of Synopsys by 8.0% during the first quarter. Integrated Advisors Network LLC now owns 529 shares of the semiconductor company’s stock worth $227,000 after acquiring an additional 39 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in shares of Synopsys by 8.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,748 shares of the semiconductor company’s stock worth $2,894,000 after acquiring an additional 550 shares during the period. Finally, Edmond DE Rothschild Holding S.A. increased its position in shares of Synopsys by 14.7% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 25,863 shares of the semiconductor company’s stock worth $12,553,000 after acquiring an additional 3,321 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Performance

Shares of SNPS stock opened at $614.42 on Thursday. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $618.49. The stock has a market cap of $95.33 billion, a PE ratio of 44.36, a price-to-earnings-growth ratio of 4.07 and a beta of 1.12. The company’s fifty day moving average price is $514.19 and its 200-day moving average price is $485.44. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, topping the consensus estimate 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 business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the company earned $3.00 earnings per share. On average, equities analysts expect that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Insider Activity at Synopsys

In other news, CFO Shelagh Glaser sold 7,310 shares of the firm’s stock in a transaction that occurred 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 owned 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys 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 directly owned 71,589 shares of the company’s stock, valued at $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. Insiders have sold 27,686 shares of company stock valued at $13,001,048 in the last ninety days. Corporate insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on SNPS. KeyCorp raised their target price on shares of Synopsys from $540.00 to $610.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Bank of America raised their target price on shares of Synopsys from $575.00 to $625.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Needham & Company LLC reissued a “buy” rating and issued a $660.00 target price (up previously from $650.00) on shares of Synopsys in a research report on Tuesday, July 15th. The Goldman Sachs Group initiated coverage on shares of Synopsys in a research report on Thursday, July 10th. They issued a “buy” rating and a $620.00 target price for the company. Finally, Stifel Nicolaus set a $550.00 price target on shares of Synopsys in a report on Monday, April 28th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $620.67.

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.