Financial Counselors Inc. Buys 1,736 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Financial Counselors Inc. increased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 5.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,225 shares of the semiconductor company’s stock after purchasing an additional 1,736 shares during the quarter. Financial Counselors Inc.’s holdings in Synopsys were worth $14,677,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SNPS. Dynamic Advisor Solutions LLC acquired a new position in shares of Synopsys in the first quarter valued at approximately $1,000,000. Bancreek Capital Management LP acquired a new stake in Synopsys during the 4th quarter worth approximately $3,827,000. Wealth Enhancement Advisory Services LLC grew its holdings in Synopsys by 3.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 20,172 shares of the semiconductor company’s stock worth $8,651,000 after acquiring an additional 655 shares during the last quarter. Andra AP fonden increased its position in Synopsys by 61.1% in the 4th quarter. Andra AP fonden now owns 11,600 shares of the semiconductor company’s stock valued at $5,630,000 after acquiring an additional 4,400 shares during the period. Finally, Integrated Advisors Network LLC raised its stake in shares of Synopsys by 8.0% during the first quarter. Integrated Advisors Network LLC now owns 529 shares of the semiconductor company’s stock valued at $227,000 after acquiring an additional 39 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling

In related news, CRO Richard S. Mahoney sold 9,010 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the executive owned 1,485 shares in the company, valued at $699,746.85. This represents a 85.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Shelagh Glaser sold 7,310 shares of Synopsys stock in a transaction on Friday, June 6th. The shares were sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the completion of the sale, the chief financial officer owned 15,291 shares in the company, valued at approximately $7,427,144.52. This trade represents a 32.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,686 shares of company stock valued at $13,001,048 over the last ninety days. 0.62% of the stock is owned by insiders.

Synopsys Trading Up 4.5%

Shares of SNPS opened at $546.76 on Monday. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $624.80. The firm has a market cap of $84.83 billion, a price-to-earnings ratio of 39.48, a PEG ratio of 3.62 and a beta of 1.12. The firm has a 50 day moving average price of $489.89 and a 200-day moving average price of $477.94. 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 (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, topping the consensus estimate of $3.40 by $0.27. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The firm 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 quarterly revenue was up 10.3% on a year-over-year basis. As a group, equities research analysts forecast that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

SNPS has been the topic of several analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a research note on Thursday, May 29th. Bank of America decreased their price target on Synopsys from $630.00 to $560.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. 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. KeyCorp set a $540.00 price objective on shares of Synopsys in a research note on Tuesday, June 3rd. Finally, Stifel Nicolaus set a $550.00 price objective on shares of Synopsys in a report on Monday, April 28th. 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, the company has a consensus rating of “Moderate Buy” and an average target price of $607.14.

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.