AMI Asset Management Corp Raises Stake in Synopsys, Inc. (NASDAQ:SNPS)

AMI Asset Management Corp boosted its position in Synopsys, Inc. (NASDAQ:SNPS) by 2.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 67,744 shares of the semiconductor company’s stock after buying an additional 1,794 shares during the period. Synopsys makes up approximately 2.0% of AMI Asset Management Corp’s investment portfolio, making the stock its 25th largest holding. AMI Asset Management Corp’s holdings in Synopsys were worth $38,716,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of SNPS. University of Texas Texas AM Investment Managment Co. acquired a new position in Synopsys in the fourth quarter valued at approximately $28,000. Jones Financial Companies Lllp lifted its holdings in Synopsys by 233.3% in 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 period. WD Rutherford LLC acquired a new position in Synopsys in the first quarter valued at approximately $40,000. ZRC Wealth Management LLC acquired a new position in Synopsys in the first quarter valued at approximately $40,000. Finally, Rise Advisors LLC acquired a new position in Synopsys in the first quarter valued at approximately $46,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling

In other news, insider Geus Aart De sold 8,158 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $602.59, for a total transaction of $4,915,929.22. Following the sale, the insider now owns 106,983 shares of the company’s stock, valued at approximately $64,466,885.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Sassine Ghazi sold 10,294 shares of the firm’s 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 transaction, the chief executive officer now 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 at this link. Also, insider Geus Aart De sold 8,158 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $602.59, for a total value of $4,915,929.22. Following the transaction, the insider now owns 106,983 shares in the company, valued at approximately $64,466,885.97. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,232 shares of company stock valued at $21,436,741. Corporate insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Robert W. Baird upped their target price on Synopsys from $645.00 to $661.00 and gave the stock an “outperform” rating in a research note on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $660.00 target price on shares of Synopsys in a research note on Thursday, May 23rd. Rosenblatt Securities reaffirmed a “buy” rating and set a $615.00 target price on shares of Synopsys in a research note on Thursday, May 23rd. JPMorgan Chase & Co. upped their target price on Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Finally, KeyCorp upped their target price 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, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $625.82.

Synopsys Price Performance

NASDAQ SNPS traded down $2.67 during mid-day trading on Thursday, hitting $606.99. The stock had a trading volume of 491,508 shares, compared to its average volume of 790,976. The firm’s 50 day moving average is $574.85 and its 200 day moving average is $557.39. Synopsys, Inc. has a twelve month low of $418.51 and a twelve month high of $629.38. The stock has a market capitalization of $93.00 billion, a price-to-earnings ratio of 65.98, a PEG ratio of 3.93 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.03 by ($0.03). The company had revenue of $1.45 billion during 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 firm’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.76 earnings per share. As a group, equities research analysts expect that Synopsys, Inc. will post 9.66 earnings per share for the current year.

About Synopsys

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.