Synopsys, Inc. $SNPS Shares Purchased by Northern Trust Corp

Northern Trust Corp lifted its stake in Synopsys, Inc. (NASDAQ:SNPS) by 0.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,639,934 shares of the semiconductor company’s stock after acquiring an additional 347 shares during the quarter. Northern Trust Corp owned 1.06% of Synopsys worth $703,286,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Cornerstone Planning Group LLC lifted its holdings in shares of Synopsys by 275.0% in 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 last quarter. Clal Insurance Enterprises Holdings Ltd lifted its holdings in shares of Synopsys by 441.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 53 shares during the last quarter. Ameriflex Group Inc. acquired a new position in shares of Synopsys in the 4th quarter worth approximately $29,000. Cloud Capital Management LLC acquired a new position in shares of Synopsys in the 1st quarter worth approximately $36,000. Finally, Meeder Asset Management Inc. lifted its holdings 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 worth $45,000 after acquiring an additional 26 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Trading Up 1.2%

Shares of NASDAQ:SNPS opened at $625.33 on Tuesday. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $651.73. The company’s 50 day moving average is $561.49 and its two-hundred day moving average is $498.35. 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 has a market cap of $97.03 billion, a PE ratio of 45.15, a P/E/G ratio of 4.09 and a beta of 1.15.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $3.40 by $0.27. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the prior year, the firm posted $3.00 EPS. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. Equities analysts predict 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 several recent analyst reports. The Goldman Sachs Group initiated coverage on shares of Synopsys in a report on Thursday, July 10th. They issued a “buy” rating and a $620.00 price objective on the stock. Bank of America upped their target price on shares of Synopsys from $575.00 to $625.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Rosenblatt Securities upped their target price on shares of Synopsys from $625.00 to $650.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Morgan Stanley reaffirmed an “overweight” rating and set a $715.00 target price (up from $540.00) on shares of Synopsys in a research note on Monday, August 11th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $660.00 target price (up from $650.00) on shares of Synopsys in a research note on Tuesday, July 15th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $630.67.

Insider Buying and Selling at Synopsys

In related news, CRO Richard S. Mahoney sold 9,010 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total value of $4,245,602.10. Following the transaction, the executive directly 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the completion of the transaction, the chief executive officer directly owned 71,589 shares in the company, valued at $32,782,750.77. This trade represents a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,686 shares of company stock valued at $13,001,048. Insiders own 0.62% of the company’s stock.

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.