Affinity Capital Advisors LLC Acquires 65 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Affinity Capital Advisors LLC raised its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.1% in the first quarter, Holdings Channel.com reports. The firm owned 3,175 shares of the semiconductor company’s stock after purchasing an additional 65 shares during the period. Affinity Capital Advisors LLC’s holdings in Synopsys were worth $1,337,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bancreek Capital Management LP bought a new position in shares of Synopsys during the fourth quarter valued at approximately $3,827,000. Meridiem Investment Management Ltd. increased its stake in shares of Synopsys by 13.1% during the fourth quarter. Meridiem Investment Management Ltd. now owns 557,174 shares of the semiconductor company’s stock valued at $270,322,000 after purchasing an additional 64,322 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of Synopsys by 7.6% during the fourth quarter. CIBC Asset Management Inc now owns 74,789 shares of the semiconductor company’s stock valued at $36,300,000 after purchasing an additional 5,253 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Synopsys by 1.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 54,412 shares of the semiconductor company’s stock valued at $26,268,000 after buying an additional 587 shares during the last quarter. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of Synopsys during the fourth quarter valued at approximately $25,444,000. Institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling

In related news, CFO Shelagh Glaser sold 7,310 shares of the firm’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 transaction, the chief financial officer now directly owns 15,291 shares of the company’s stock, valued at approximately $7,427,144.52. This trade represents a 32.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 71,589 shares in the company, valued at approximately $32,782,750.77. This represents 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 insiders.

Wall Street Analyst Weigh In

Several analysts have commented on SNPS shares. Wells Fargo & Company cut their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Morgan Stanley cut their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Stifel Nicolaus set a $550.00 target price on Synopsys in a research note on Monday, April 28th. KeyCorp set a $540.00 target price on Synopsys in a research note on Tuesday, June 3rd. Finally, Rosenblatt Securities cut their target price on Synopsys from $660.00 to $625.00 and set a “buy” rating on the stock in a research note on Thursday, May 29th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $607.14.

Synopsys Price Performance

SNPS stock opened at $478.86 on Friday. The company has a market cap of $74.30 billion, a P/E ratio of 32.98, a price-to-earnings-growth ratio of 3.23 and a beta of 1.11. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80. The stock’s fifty day moving average price is $466.31 and its 200-day moving average price is $481.37.

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 20.48% and a net margin of 36.12%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period last year, the business posted $3.00 EPS. As a group, analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current 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.