Premier Fund Managers Ltd Has $11.84 Million Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Premier Fund Managers Ltd raised its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 17.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,030 shares of the semiconductor company’s stock after buying an additional 4,042 shares during the quarter. Premier Fund Managers Ltd’s holdings in Synopsys were worth $11,842,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNPS. Brighton Jones LLC grew its holdings in 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 buying an additional 50 shares during the last quarter. Loomis Sayles & Co. L P grew its holdings in Synopsys by 176.8% in the 4th quarter. Loomis Sayles & Co. L P now owns 227 shares of the semiconductor company’s stock valued at $110,000 after buying an additional 145 shares during the last quarter. Level Four Advisory Services LLC grew its holdings in Synopsys by 46.1% in the 4th quarter. Level Four Advisory Services LLC now owns 773 shares of the semiconductor company’s stock valued at $375,000 after buying an additional 244 shares during the last quarter. Brown Brothers Harriman & Co. grew its holdings in shares of Synopsys by 6.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,927 shares of the semiconductor company’s stock worth $935,000 after purchasing an additional 119 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Synopsys during the fourth quarter valued at approximately $1,678,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of SNPS stock opened at $592.63 on Tuesday. The stock’s fifty day simple moving average is $519.36 and its 200 day simple moving average is $487.47. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85. The firm has a market cap of $91.95 billion, a price-to-earnings ratio of 42.79, a P/E/G ratio of 3.98 and a beta of 1.12. Synopsys, Inc. has a one year low of $365.74 and a one year high of $618.49.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, topping analysts’ consensus estimates of $3.40 by $0.27. The company had revenue of $1.60 billion for 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%. The business’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.00 earnings per share. On average, analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

SNPS has been the subject of several research reports. Mizuho reduced their target price on Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Rosenblatt Securities lifted their price target on shares of Synopsys from $625.00 to $650.00 and gave the stock a “buy” rating in a research note on Friday. Stifel Nicolaus set a $550.00 price target on shares of Synopsys in a research note on Monday, April 28th. KeyCorp lifted their price target on shares of Synopsys from $540.00 to $610.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Finally, Piper Sandler lifted their price target on shares of Synopsys from $615.00 to $660.00 and gave the stock an “overweight” rating in a research note on Monday, July 21st. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $622.33.

Insiders Place Their Bets

In other Synopsys news, CRO Richard S. Mahoney sold 9,010 shares of the business’s stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total value of $4,245,602.10. Following the transaction, the executive owned 1,485 shares of the company’s stock, valued at approximately $699,746.85. The trade was a 85.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Shelagh Glaser sold 7,310 shares of the business’s stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 15,291 shares in the company, valued at approximately $7,427,144.52. This represents a 32.34% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,686 shares of company stock valued at $13,001,048. 0.62% of the stock is currently owned by corporate insiders.

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.