L & S Advisors Inc Has $1.29 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

L & S Advisors Inc boosted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 3.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,015 shares of the semiconductor company’s stock after purchasing an additional 100 shares during the period. L & S Advisors Inc’s holdings in Synopsys were worth $1,293,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Cornerstone Planning Group LLC increased its stake in Synopsys by 275.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 44 shares during the period. Ameriflex Group Inc. bought a new position in Synopsys during the 4th quarter worth $29,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Synopsys in the 4th quarter valued at $34,000. Cloud Capital Management LLC bought a new position in shares of Synopsys in the 1st quarter valued at $36,000. Finally, Meeder Asset Management Inc. increased its stake in shares of Synopsys by 33.3% in the 1st quarter. Meeder Asset Management Inc. now owns 104 shares of the semiconductor company’s stock valued at $45,000 after purchasing an additional 26 shares during the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SNPS. Mizuho decreased their price target on Synopsys from $650.00 to $600.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Needham & Company LLC reissued a “buy” rating and set a $660.00 price objective (up previously from $650.00) on shares of Synopsys in a report on Tuesday, July 15th. Piper Sandler raised their price objective on Synopsys from $615.00 to $660.00 and gave the company an “overweight” rating in a report on Monday, July 21st. Stifel Nicolaus set a $550.00 price objective on Synopsys in a report on Monday, April 28th. Finally, KeyCorp raised their price objective on Synopsys from $540.00 to $610.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Synopsys presently has an average rating of “Moderate Buy” and an average price target of $622.33.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $457.93, for a total value of $5,204,832.38. Following the transaction, the chief executive officer owned 71,589 shares in the company, valued at $32,782,750.77. The trade was a 13.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Shelagh Glaser sold 7,310 shares of the business’s stock in a transaction that occurred 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 owned 15,291 shares in the company, valued at $7,427,144.52. The trade was 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 worth $13,001,048 in the last 90 days. Insiders own 0.62% of the company’s stock.

Synopsys Stock Performance

Shares of Synopsys stock opened at $618.65 on Monday. Synopsys, Inc. has a one year low of $365.74 and a one year high of $651.73. The firm has a market capitalization of $95.99 billion, a price-to-earnings ratio of 44.67, a PEG ratio of 4.09 and a beta of 1.15. The business has a 50-day simple moving average of $529.64 and a 200 day simple moving average of $491.19. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates 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 EPS. The company’s revenue was up 10.3% compared to the same quarter last year. On average, research analysts anticipate that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Synopsys 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.