William Blair Investment Management LLC Grows Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

William Blair Investment Management LLC grew its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 111,729 shares of the semiconductor company’s stock after buying an additional 1,081 shares during the period. William Blair Investment Management LLC owned 0.07% of Synopsys worth $63,853,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Motley Fool Asset Management LLC boosted its position in Synopsys by 354.9% during the first quarter. Motley Fool Asset Management LLC now owns 20,916 shares of the semiconductor company’s stock worth $11,953,000 after purchasing an additional 16,318 shares during the period. Bleakley Financial Group LLC grew its stake in Synopsys by 4.8% in the 1st quarter. Bleakley Financial Group LLC now owns 4,516 shares of the semiconductor company’s stock valued at $2,581,000 after buying an additional 206 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Synopsys by 22.0% during the first quarter. ProShare Advisors LLC now owns 179,175 shares of the semiconductor company’s stock worth $102,399,000 after acquiring an additional 32,265 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Synopsys by 0.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 33,483 shares of the semiconductor company’s stock worth $19,136,000 after acquiring an additional 179 shares during the period. Finally, Avantax Advisory Services Inc. boosted its holdings in shares of Synopsys by 22.7% in the first quarter. Avantax Advisory Services Inc. now owns 4,467 shares of the semiconductor company’s stock worth $2,553,000 after acquiring an additional 827 shares during the period. Institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $582.41, for a total value of $5,995,328.54. Following the completion of the sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $36,440,228.88. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction on Friday, May 24th. The shares were sold at an average price of $582.41, for a total value of $5,995,328.54. Following the transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $36,440,228.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John F. Runkel, Jr. sold 1,239 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $582.90, for a total transaction of $722,213.10. Following the sale, the insider now directly owns 20,000 shares of the company’s stock, valued at approximately $11,658,000. The disclosure for this sale can be found here. Insiders sold a total of 81,363 shares of company stock worth $49,361,263 over the last three months. Company insiders own 0.66% of the company’s stock.

Synopsys Trading Down 7.0 %

Shares of SNPS traded down $42.63 during midday trading on Wednesday, reaching $570.38. The stock had a trading volume of 1,404,855 shares, compared to its average volume of 1,060,575. The company has a market capitalization of $87.39 billion, a price-to-earnings ratio of 62.03, a price-to-earnings-growth ratio of 3.97 and a beta of 1.07. Synopsys, Inc. has a 12-month low of $418.51 and a 12-month high of $629.38. The company’s 50-day moving average is $588.78 and its 200 day moving average is $562.54.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 EPS for the quarter, missing the consensus estimate of $3.03 by ($0.03). Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the business posted $1.76 earnings per share. The company’s revenue was up 15.2% compared to the same quarter last year. Research analysts forecast that Synopsys, Inc. will post 9.66 EPS for the current fiscal year.

Analyst Ratings Changes

SNPS has been the topic of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and set a $660.00 price objective on shares of Synopsys in a report on Thursday, May 23rd. KeyCorp raised their price objective on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Rosenblatt Securities reaffirmed a “buy” rating and set a $615.00 target price on shares of Synopsys in a report on Thursday, May 23rd. Piper Sandler raised their price target on shares of Synopsys from $672.00 to $687.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Finally, Robert W. Baird upped their price target on shares of Synopsys from $645.00 to $661.00 and gave the stock an “outperform” rating in a report on Tuesday, July 2nd. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Synopsys currently has a consensus rating of “Buy” and an average price target of $627.18.

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.