Janney Capital Management LLC Increases Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Janney Capital Management LLC boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 51.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,005 shares of the semiconductor company’s stock after buying an additional 6,475 shares during the period. Janney Capital Management LLC’s holdings in Synopsys were worth $8,150,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its stake in shares of Synopsys by 5.7% in the 4th quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company’s stock valued at $447,000 after purchasing an additional 50 shares during the period. Union Bancaire Privee UBP SA bought a new position in Synopsys during the 4th quarter valued at approximately $17,162,000. Principal Securities Inc. increased its position in Synopsys by 6.0% during the 4th quarter. Principal Securities Inc. now owns 2,277 shares of the semiconductor company’s stock valued at $1,105,000 after buying an additional 128 shares in the last quarter. Allworth Financial LP increased its position in Synopsys by 5.6% during the 4th quarter. Allworth Financial LP now owns 2,425 shares of the semiconductor company’s stock valued at $1,177,000 after buying an additional 128 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Synopsys by 4.6% in the 4th quarter. Principal Financial Group Inc. now owns 259,257 shares of the semiconductor company’s stock worth $125,833,000 after purchasing an additional 11,291 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SNPS. Piper Sandler reaffirmed an “overweight” rating and issued a $615.00 price objective (down previously from $653.00) on shares of Synopsys in a report on Thursday, May 29th. Rosenblatt Securities lowered their target price on Synopsys from $660.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, May 29th. Morgan Stanley lowered their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Wells Fargo & Company lowered their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Finally, Mizuho lowered their price objective on Synopsys from $650.00 to $600.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Synopsys has a consensus rating of “Moderate Buy” and an average target price of $607.14.

Insiders Place Their Bets

In other news, CFO Shelagh Glaser sold 7,310 shares of the firm’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the sale, the chief financial officer now directly owns 15,291 shares in the company, valued at $7,427,144.52. This trade represents a 32.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the chief executive officer now owns 71,589 shares in the company, valued at $32,782,750.77. This trade 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.

Synopsys Stock Down 0.4%

Shares of NASDAQ SNPS opened at $473.62 on Thursday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02. The firm has a market capitalization of $73.49 billion, a price-to-earnings ratio of 34.20, a PEG ratio of 3.14 and a beta of 1.11. The stock has a 50 day moving average price of $470.10 and a 200 day moving average price of $480.27. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $624.80.

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

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.