Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Manchester Capital Management LLC

Manchester Capital Management LLC grew its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 14.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 323 shares of the semiconductor company’s stock after purchasing an additional 42 shares during the period. Manchester Capital Management LLC’s holdings in Synopsys were worth $139,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Capital World Investors increased its stake in Synopsys by 1.6% during the 4th quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company’s stock valued at $3,533,526,000 after buying an additional 114,893 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Synopsys by 21.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company’s stock valued at $2,864,933,000 after acquiring an additional 1,045,326 shares during the period. Pictet Asset Management Holding SA increased its stake in shares of Synopsys by 38.3% during the first quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company’s stock valued at $1,043,518,000 after acquiring an additional 673,837 shares during the period. Ameriprise Financial Inc. raised its holdings in Synopsys by 26.2% during the fourth quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company’s stock worth $916,441,000 after purchasing an additional 391,681 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its position in Synopsys by 12.1% in the fourth quarter. Nuveen Asset Management LLC now owns 1,691,501 shares of the semiconductor company’s stock worth $820,987,000 after purchasing an additional 182,115 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Synopsys

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

Synopsys Stock Up 2.8%

NASDAQ:SNPS opened at $636.02 on Tuesday. The business’s fifty day moving average price is $532.39 and its 200 day moving average price is $491.96. The firm has a market capitalization of $98.69 billion, a price-to-earnings ratio of 45.92, a PEG ratio of 4.09 and a beta of 1.15. 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, Inc. has a 1-year low of $365.74 and a 1-year high of $651.73.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.00 EPS. On average, sell-side analysts forecast that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of research reports. Bank of America boosted their price objective on Synopsys from $575.00 to $625.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. KeyCorp boosted their price target on shares of Synopsys from $540.00 to $610.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. 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 report on Tuesday, April 15th. Piper Sandler lifted their price objective 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. Finally, Rosenblatt Securities increased their target price on shares of Synopsys from $625.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, July 25th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $622.33.

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.