Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Artemis Investment Management LLP

Artemis Investment Management LLP boosted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 4.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 10,514 shares of the semiconductor company’s stock after purchasing an additional 493 shares during the period. Artemis Investment Management LLP’s holdings in Synopsys were worth $6,006,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Coldstream Capital Management Inc. grew its position in shares of Synopsys by 0.8% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,195 shares of the semiconductor company’s stock valued at $1,130,000 after acquiring an additional 18 shares during the period. Mission Wealth Management LP grew its position in shares of Synopsys by 2.5% during the 4th quarter. Mission Wealth Management LP now owns 780 shares of the semiconductor company’s stock valued at $401,000 after acquiring an additional 19 shares during the period. Fred Alger Management LLC grew its position in shares of Synopsys by 1.8% during the 3rd quarter. Fred Alger Management LLC now owns 1,150 shares of the semiconductor company’s stock valued at $528,000 after acquiring an additional 20 shares during the period. Ignite Planners LLC grew its position in shares of Synopsys by 3.5% during the 1st quarter. Ignite Planners LLC now owns 596 shares of the semiconductor company’s stock valued at $344,000 after acquiring an additional 20 shares during the period. Finally, Allstate Corp grew its position in shares of Synopsys by 4.7% during the 4th quarter. Allstate Corp now owns 468 shares of the semiconductor company’s stock valued at $241,000 after acquiring an additional 21 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Price Performance

SNPS stock opened at $595.06 on Friday. The company’s 50 day simple moving average is $569.90 and its 200-day simple moving average is $556.47. The firm has a market capitalization of $91.18 billion, a PE ratio of 64.68, a P/E/G ratio of 3.84 and a beta of 1.08. Synopsys, Inc. has a 12 month low of $418.51 and a 12 month high of $629.38.

Synopsys (NASDAQ:SNPS) last released its quarterly 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 business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.50 billion. Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The firm’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.76 earnings per share. As a group, sell-side analysts anticipate that Synopsys, Inc. will post 9.66 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on SNPS. Robert W. Baird raised their target price on shares of Synopsys from $640.00 to $645.00 and gave the stock an “outperform” rating in a research note on Thursday, May 23rd. KeyCorp lifted their target price on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a report on Thursday. Needham & Company LLC restated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research note on Thursday, May 23rd. Rosenblatt Securities reiterated a “buy” rating and set a $615.00 target price on shares of Synopsys in a research note on Thursday, May 23rd. Finally, Piper Sandler reiterated an “overweight” rating and set a $672.00 target price (up previously from $665.00) on shares of Synopsys in a research note on Thursday, May 23rd. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $624.36.

Insider Activity

In other news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $582.41, for a total value of $5,995,328.54. Following the sale, the chief executive officer now directly owns 62,568 shares in the company, valued at $36,440,228.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider John F. Runkel, Jr. sold 5,319 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the transaction, the insider now owns 20,000 shares of the company’s stock, valued at $11,587,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $36,440,228.88. The disclosure for this sale can be found here. Insiders have sold 35,658 shares of company stock worth $20,970,824 over the last ninety days. 0.66% of the stock is currently owned by insiders.

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.