Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 6.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 22,225 shares of the semiconductor company’s stock after buying an additional 1,286 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Synopsys were worth $9,531,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position 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 last quarter. Wealthspire Advisors LLC increased its stake in Synopsys by 41.6% during the 4th quarter. Wealthspire Advisors LLC now owns 562 shares of the semiconductor company’s stock valued at $273,000 after purchasing an additional 165 shares in the last quarter. Howard Capital Management Inc. raised its holdings in shares of Synopsys by 2.8% in the fourth quarter. Howard Capital Management Inc. now owns 4,078 shares of the semiconductor company’s stock worth $1,979,000 after buying an additional 113 shares during the last quarter. MONECO Advisors LLC acquired a new stake in shares of Synopsys during the fourth quarter worth $216,000. Finally, World Equity Group Inc. acquired a new stake in shares of Synopsys during the fourth quarter worth $347,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Price Performance

Shares of SNPS opened at $470.98 on Tuesday. The business’s 50-day moving average is $473.40 and its two-hundred day moving average is $477.61. The company has a market capitalization of $73.08 billion, a P/E ratio of 34.01, a P/E/G ratio of 3.11 and a beta of 1.11. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $624.80.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, topping the consensus estimate of $3.40 by $0.27. The company 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 17.09% and a net margin of 34.77%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the firm earned $3.00 EPS. Research analysts predict that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the sale, the chief executive officer now directly owns 71,589 shares of the company’s stock, valued at $32,782,750.77. This represents a 13.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Richard S. Mahoney sold 9,010 shares of the stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the sale, the executive now directly owns 1,485 shares in the company, valued at approximately $699,746.85. The trade was a 85.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,686 shares of company stock valued at $13,001,048. Company insiders own 0.62% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. KeyCorp set a $540.00 target price on Synopsys in a research report on Tuesday, June 3rd. 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 report on Thursday, February 27th. Piper Sandler reissued an “overweight” rating and issued a $615.00 target price (down from $653.00) on shares of Synopsys in a research report on Thursday, May 29th. Mizuho cut their target price on Synopsys from $650.00 to $600.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $650.00 target price on shares of Synopsys in a research report on Thursday, May 29th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $607.14.

Synopsys Company 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.