Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. raised its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 84.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,618 shares of the semiconductor company’s stock after acquiring an additional 11,259 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Synopsys were worth $10,557,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of SNPS. Ameriflex Group Inc. bought a new stake in shares of Synopsys in the 4th quarter worth approximately $29,000. Whipplewood Advisors LLC bought a new position in shares of Synopsys in the fourth quarter valued at $33,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Synopsys in the fourth quarter valued at $34,000. Hazlett Burt & Watson Inc. lifted its position in shares of Synopsys by 28.6% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock valued at $44,000 after acquiring an additional 20 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its stake in shares of Synopsys by 50.8% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 98 shares of the semiconductor company’s stock worth $48,000 after acquiring an additional 33 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Trading Down 0.4%

Synopsys stock opened at $473.62 on Friday. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $624.80. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01. The stock has a market cap of $73.49 billion, a P/E ratio of 34.20, a P/E/G ratio of 3.13 and a beta of 1.11. The company’s fifty day simple moving average is $471.43 and its 200-day simple moving average is $479.64.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter last year, the firm earned $3.00 earnings per share. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, sell-side analysts forecast that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other Synopsys news, CFO Shelagh Glaser sold 7,310 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 15,291 shares of the company’s stock, valued at $7,427,144.52. This represents a 32.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 71,589 shares in the company, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SNPS shares. Rosenblatt Securities reduced their target price on Synopsys from $660.00 to $625.00 and set a “buy” rating for the company in a report on Thursday, May 29th. KeyCorp set a $540.00 price objective on Synopsys in a report on Tuesday, June 3rd. Piper Sandler reiterated an “overweight” rating and issued a $615.00 target price (down from $653.00) on shares of Synopsys in a report on Thursday, May 29th. Needham & Company LLC restated a “buy” rating and set a $650.00 price target on shares of Synopsys in a report on Thursday, May 29th. Finally, Mizuho reduced their price target 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. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $607.14.

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.