Louisiana State Employees Retirement System Boosts Position in Synopsys, Inc. (NASDAQ:SNPS)

Louisiana State Employees Retirement System increased its stake in Synopsys, Inc. (NASDAQ:SNPS) by 0.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,600 shares of the semiconductor company’s stock after buying an additional 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Synopsys were worth $8,405,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in SNPS. Dynamic Advisor Solutions LLC bought a new stake in shares of Synopsys in the 1st quarter valued at about $1,000,000. Bancreek Capital Management LP bought a new stake in shares of Synopsys in the 4th quarter valued at about $3,827,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Synopsys by 3.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 20,172 shares of the semiconductor company’s stock valued at $8,651,000 after purchasing an additional 655 shares in the last quarter. Integrated Advisors Network LLC raised its holdings in shares of Synopsys by 8.0% in the 1st quarter. Integrated Advisors Network LLC now owns 529 shares of the semiconductor company’s stock valued at $227,000 after purchasing an additional 39 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its position in shares of Synopsys by 8.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,748 shares of the semiconductor company’s stock worth $2,894,000 after buying an additional 550 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Activity

In other news, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction on 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 directly owned 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Shelagh Glaser sold 7,310 shares of the company’s 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 directly owned 15,291 shares in the company, valued at $7,427,144.52. This trade represents a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,686 shares of company stock valued at $13,001,048 in the last ninety days. Insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on SNPS shares. KeyCorp boosted their price objective on shares of Synopsys from $540.00 to $610.00 and gave the stock an “overweight” rating in a research note on Thursday. Rosenblatt Securities reduced their price objective on shares of Synopsys from $660.00 to $625.00 and set a “buy” rating for the company in a research note on Thursday, May 29th. Mizuho reduced their price objective on shares of Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Piper Sandler reiterated an “overweight” rating and set a $615.00 price objective (down previously from $653.00) on shares of Synopsys in a research note on Thursday, May 29th. Finally, Stifel Nicolaus set a $550.00 price objective on shares of Synopsys in a research note on Monday, April 28th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Synopsys has a consensus rating of “Moderate Buy” and a consensus price target of $612.67.

Synopsys Stock Down 1.2%

NASDAQ:SNPS opened at $559.28 on Friday. The company has a market cap of $86.78 billion, a PE ratio of 40.38, a P/E/G ratio of 3.69 and a beta of 1.12. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $621.24. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. The company’s 50 day moving average is $499.27 and its two-hundred day moving average is $480.04.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, beating the consensus estimate of $3.40 by $0.27. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.60 billion. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the prior year, the firm earned $3.00 EPS. Analysts anticipate that Synopsys, Inc. will post 10.64 EPS for the current year.

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.