Stephens Inc. AR Acquires 389 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Stephens Inc. AR grew its stake in Synopsys, Inc. (NASDAQ:SNPS) by 23.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,053 shares of the semiconductor company’s stock after purchasing an additional 389 shares during the period. Stephens Inc. AR’s holdings in Synopsys were worth $880,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Advisors Capital Management LLC grew its position in Synopsys by 2.3% in the 4th quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company’s stock valued at $408,000 after purchasing an additional 19 shares during the period. Hazlett Burt & Watson Inc. lifted its holdings in Synopsys by 28.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 20 shares during the last quarter. Peninsula Wealth LLC lifted its holdings in Synopsys by 0.5% during the fourth quarter. Peninsula Wealth LLC now owns 4,224 shares of the semiconductor company’s stock valued at $2,050,000 after purchasing an additional 20 shares during the last quarter. Williams Jones Wealth Management LLC. lifted its holdings in Synopsys by 0.5% during the fourth quarter. Williams Jones Wealth Management LLC. now owns 4,650 shares of the semiconductor company’s stock valued at $2,257,000 after purchasing an additional 22 shares during the last quarter. Finally, Ashton Thomas Securities LLC lifted its holdings in shares of Synopsys by 1.2% in the fourth quarter. Ashton Thomas Securities LLC now owns 1,866 shares of the semiconductor company’s stock worth $906,000 after buying an additional 23 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Up 3.1%

Shares of SNPS opened at $589.01 on Friday. The firm has a market cap of $91.39 billion, a P/E ratio of 42.53, a PEG ratio of 3.78 and a beta of 1.12. The stock’s 50 day moving average is $506.50 and its two-hundred day moving average is $482.28. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $593.98. 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 earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $3.40 by $0.27. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the previous year, the business earned $3.00 earnings per share. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. Analysts predict that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

SNPS has been the topic of a number of recent analyst reports. Rosenblatt Securities lowered their target price on shares of Synopsys from $660.00 to $625.00 and set a “buy” rating on the stock in a research note on Thursday, May 29th. Mizuho dropped their price target on Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. KeyCorp raised their price objective on Synopsys from $540.00 to $610.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Bank of America lifted their price target on Synopsys from $575.00 to $625.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, The Goldman Sachs Group began coverage on Synopsys in a report on Thursday, July 10th. They issued a “buy” rating and a $620.00 price objective for the company. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Synopsys currently has a consensus rating of “Moderate Buy” and a consensus target price of $617.67.

Insider Activity

In related news, CFO Shelagh Glaser sold 7,310 shares of the company’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 sale, the chief financial officer owned 15,291 shares in the company, valued at $7,427,144.52. This represents a 32.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CRO Richard S. Mahoney sold 9,010 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total value of $4,245,602.10. Following the sale, the executive owned 1,485 shares in the company, valued at approximately $699,746.85. This trade represents a 85.85% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 27,686 shares of company stock valued at $13,001,048. Insiders own 0.62% of the company’s stock.

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.