Gardner Lewis Asset Management L P Buys 197 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Gardner Lewis Asset Management L P boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPSFree Report) by 2.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,468 shares of the semiconductor company’s stock after buying an additional 197 shares during the period. Gardner Lewis Asset Management L P’s holdings in Synopsys were worth $4,444,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SNPS. Coldstream Capital Management Inc. boosted 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 last quarter. Andina Capital Management LLC increased its holdings in shares of Synopsys by 2.8% in the 2nd quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock worth $395,000 after buying an additional 18 shares during the last quarter. Cascade Financial Partners LLC raised its position in shares of Synopsys by 4.9% during the 2nd quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock valued at $232,000 after buying an additional 18 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its holdings in shares of Synopsys by 40.0% in the 1st 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. Finally, Ignite Planners LLC increased its stake in Synopsys by 3.5% during the first quarter. Ignite Planners LLC now owns 596 shares of the semiconductor company’s stock worth $344,000 after acquiring an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of SNPS stock opened at $502.25 on Wednesday. The stock’s 50-day moving average is $532.47 and its 200 day moving average is $558.06. Synopsys, Inc. has a 1-year low of $440.62 and a 1-year high of $629.38. The company has a market cap of $76.95 billion, a P/E ratio of 54.59, a PEG ratio of 3.23 and a beta of 1.08.

Synopsys (NASDAQ:SNPSGet Free Report) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.28 by $0.15. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. During the same quarter in the previous year, the firm earned $2.17 EPS. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on SNPS. Rosenblatt Securities reissued a “buy” rating and set a $635.00 target price on shares of Synopsys in a research report on Friday, August 23rd. Robert W. Baird raised their target price on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. KeyCorp boosted their price objective on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. JPMorgan Chase & Co. increased their target price on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Thursday, August 22nd. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $630.09.

View Our Latest Stock Report on Synopsys

Insider Transactions at Synopsys

In related news, insider Geus Aart De sold 27,753 shares of the company’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $618.58, for a total transaction of $17,167,450.74. Following the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $66,177,544.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Geus Aart De sold 27,753 shares of Synopsys stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $618.58, for a total value of $17,167,450.74. Following the completion of the sale, the insider now directly owns 106,983 shares in the company, valued at approximately $66,177,544.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the sale, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. The disclosure for this sale can be found here. Insiders sold 73,687 shares of company stock valued at $44,616,637 in the last quarter. 0.66% of the stock is currently owned by corporate insiders.

About Synopsys

(Free Report)

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.

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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