Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Clearbridge Investments LLC

Clearbridge Investments LLC raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 158.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 204,677 shares of the semiconductor company’s stock after buying an additional 125,464 shares during the quarter. Clearbridge Investments LLC’s holdings in Synopsys were worth $116,973,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Bay Harbor Wealth Management LLC acquired a new stake in shares of Synopsys during the first quarter valued at $26,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of Synopsys during the fourth quarter valued at $28,000. Jones Financial Companies Lllp boosted its stake in shares of Synopsys by 233.3% during the fourth quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 42 shares during the last quarter. Activest Wealth Management acquired a new stake in shares of Synopsys during the first quarter valued at $35,000. Finally, Hazlett Burt & Watson Inc. boosted its stake in shares of Synopsys by 40.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 20 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Down 5.9 %

Shares of NASDAQ SNPS traded down $35.00 during midday trading on Wednesday, hitting $553.33. The stock had a trading volume of 1,033,158 shares, compared to its average volume of 1,058,485. The company has a market capitalization of $84.78 billion, a price-to-earnings ratio of 60.34, a PEG ratio of 3.79 and a beta of 1.07. Synopsys, Inc. has a 1-year low of $418.51 and a 1-year high of $629.38. The company has a fifty day moving average price of $590.70 and a 200 day moving average price of $565.27.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 EPS for the quarter, missing the consensus estimate of $3.03 by ($0.03). The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The business’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.76 earnings per share. On average, research analysts forecast that Synopsys, Inc. will post 9.66 EPS for the current year.

Insider Activity at Synopsys

In related news, Director Mercedes Johnson sold 5,500 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $581.38, for a total transaction of $3,197,590.00. Following the sale, the director now directly owns 1,543 shares in the company, valued at approximately $897,069.34. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the sale, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $36,440,228.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mercedes Johnson sold 5,500 shares of Synopsys stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $581.38, for a total value of $3,197,590.00. Following the sale, the director now owns 1,543 shares in the company, valued at $897,069.34. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 81,363 shares of company stock worth $49,361,263. 0.66% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research note on Thursday, May 23rd. Robert W. Baird raised their price target on Synopsys from $645.00 to $661.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 2nd. Rosenblatt Securities reissued a “buy” rating and issued a $615.00 price target on shares of Synopsys in a research note on Thursday, May 23rd. Piper Sandler raised their price target on Synopsys from $672.00 to $687.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Finally, KeyCorp raised their price target on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Synopsys presently has a consensus rating of “Buy” and a consensus target price of $627.18.

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.