Brighton Jones LLC Has $413,000 Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Brighton Jones LLC boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 4.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 962 shares of the semiconductor company’s stock after buying an additional 41 shares during the quarter. Brighton Jones LLC’s holdings in Synopsys were worth $413,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in SNPS. Norges Bank acquired a new position in shares of Synopsys in the 4th quarter valued at $583,608,000. GAMMA Investing LLC lifted its stake in shares of Synopsys by 54,286.0% in the 1st quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company’s stock valued at $513,116,000 after purchasing an additional 1,194,292 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Synopsys by 21.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company’s stock worth $2,864,933,000 after buying an additional 1,045,326 shares during the period. Capital Research Global Investors acquired a new stake in Synopsys during the 4th quarter worth $239,864,000. Finally, Raymond James Financial Inc. acquired a new stake in Synopsys during the 4th quarter worth $199,065,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SNPS. Piper Sandler reaffirmed an “overweight” rating and set a $615.00 price objective (down previously from $653.00) on shares of Synopsys in a research note on Thursday, May 29th. Stifel Nicolaus set a $550.00 price objective on Synopsys in a research note on Monday, April 28th. Morgan Stanley dropped their price objective on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. KeyCorp set a $540.00 target price on Synopsys in a report on Tuesday, June 3rd. Finally, Wells Fargo & Company lowered their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $607.14.

Synopsys Trading Down 0.8%

Synopsys stock opened at $475.40 on Wednesday. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $624.80. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02. The stock has a market capitalization of $73.76 billion, a P/E ratio of 34.32, a PEG ratio of 3.17 and a beta of 1.11. The stock has a 50-day simple moving average of $469.20 and a 200 day simple moving average of $480.32.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, topping 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 business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter last year, the company posted $3.00 earnings per share. Synopsys’s quarterly revenue was up 10.3% on a year-over-year basis. Analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Insider Activity

In other Synopsys news, CFO Shelagh Glaser sold 7,310 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the completion of the transaction, the chief financial officer now directly owns 15,291 shares in the company, valued at $7,427,144.52. The trade was a 32.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the transaction, the chief executive officer now owns 71,589 shares of the company’s stock, valued at approximately $32,782,750.77. This represents a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is owned by company insiders.

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.