Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by Bleakley Financial Group LLC

Bleakley Financial Group LLC boosted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 4.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,516 shares of the semiconductor company’s stock after purchasing an additional 206 shares during the period. Bleakley Financial Group LLC’s holdings in Synopsys were worth $2,581,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Synopsys by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 13,551,092 shares of the semiconductor company’s stock worth $6,977,593,000 after acquiring an additional 203,601 shares during the last quarter. Capital World Investors raised its position in shares of Synopsys by 0.5% in the 4th quarter. Capital World Investors now owns 6,551,405 shares of the semiconductor company’s stock valued at $3,373,384,000 after purchasing an additional 32,430 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Synopsys by 6.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,565,534 shares of the semiconductor company’s stock valued at $1,321,019,000 after buying an additional 153,053 shares during the last quarter. Norges Bank acquired a new stake in shares of Synopsys during the fourth quarter worth approximately $1,272,143,000. Finally, Van ECK Associates Corp increased its stake in shares of Synopsys by 25.0% in the first quarter. Van ECK Associates Corp now owns 1,162,107 shares of the semiconductor company’s stock worth $664,145,000 after buying an additional 232,731 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the sale, the chief executive officer now directly owns 62,568 shares in the company, valued at $36,440,228.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Synopsys news, insider Geus Aart De sold 493 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $620.60, for a total transaction of $305,955.80. Following the completion of the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $66,393,649.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction on 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 directly owns 62,568 shares in the company, valued at approximately $36,440,228.88. The disclosure for this sale can be found here. Insiders sold 81,363 shares of company stock valued at $49,361,263 in the last three months. 0.66% of the stock is currently owned by corporate insiders.

Synopsys Stock Performance

Shares of SNPS opened at $570.38 on Thursday. The firm has a fifty day moving average of $589.18 and a 200-day moving average of $562.59. The company has a market cap of $87.39 billion, a price-to-earnings ratio of 62.00, a price-to-earnings-growth ratio of 3.96 and a beta of 1.07. Synopsys, Inc. has a 1 year low of $418.51 and a 1 year high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the firm earned $1.76 earnings per share. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. Analysts predict that Synopsys, Inc. will post 9.66 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SNPS. JPMorgan Chase & Co. raised their price objective on shares of Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Piper Sandler increased their target price on Synopsys from $672.00 to $687.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Rosenblatt Securities reiterated a “buy” rating and issued a $615.00 target price on shares of Synopsys in a research report on Thursday, May 23rd. KeyCorp upped their price target on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a report on Thursday, May 23rd. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $627.18.

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.