14,539 Shares in Synopsys, Inc. (NASDAQ:SNPS) Purchased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky acquired a new position in shares of Synopsys, Inc. (NASDAQ:SNPS – Get Rating) in the third quarter, HoldingsChannel reports. The institutional investor acquired 14,539 shares of the semiconductor company’s stock, valued at approximately $4,442,000.

A number of other institutional investors also recently made changes to their positions in the company. Pinnacle Wealth Planning Services Inc. boosted its holdings in shares of Synopsys by 3.2% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 1,122 shares of the semiconductor company’s stock worth $343,000 after acquiring an additional 35 shares during the period. Cadence Bank boosted its holdings in shares of Synopsys by 1.2% during the third quarter. Cadence Bank now owns 3,036 shares of the semiconductor company’s stock worth $928,000 after acquiring an additional 35 shares during the period. Allworth Financial LP boosted its holdings in shares of Synopsys by 1.6% during the third quarter. Allworth Financial LP now owns 2,659 shares of the semiconductor company’s stock worth $812,000 after acquiring an additional 42 shares during the period. MV Capital Management Inc. boosted its holdings in shares of Synopsys by 47.2% during the third quarter. MV Capital Management Inc. now owns 131 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 42 shares during the period. Finally, Global Retirement Partners LLC boosted its holdings in shares of Synopsys by 7.3% during the third quarter. Global Retirement Partners LLC now owns 630 shares of the semiconductor company’s stock worth $184,000 after acquiring an additional 43 shares during the period. Institutional investors own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SNPS shares. KeyCorp boosted their price objective on Synopsys from $455.00 to $467.00 and gave the stock an “overweight” rating in a report on Thursday, December 1st. Atlantic Securities initiated coverage on Synopsys in a research note on Tuesday, January 17th. They issued an “overweight” rating for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $420.00 price target on shares of Synopsys in a research note on Tuesday, February 14th. Needham & Company LLC boosted their price target on Synopsys from $420.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, February 16th. Finally, Bank of America upgraded Synopsys from a “neutral” rating to a “buy” rating and set a $410.00 price target for the company in a research note on Friday, December 16th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Synopsys currently has a consensus rating of “Moderate Buy” and a consensus target price of $424.18.

Insider Transactions at Synopsys

In other news, COO Sassine Ghazi sold 29,136 shares of the company’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $319.46, for a total transaction of $9,307,786.56. Following the completion of the transaction, the chief operating officer now directly owns 52,609 shares in the company, valued at $16,806,471.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider John F. Runkel, Jr. sold 3,464 shares of the company’s stock in a transaction on Friday, February 17th. The shares were sold at an average price of $353.91, for a total transaction of $1,225,944.24. Following the completion of the transaction, the insider now directly owns 25,112 shares in the company, valued at $8,887,387.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Sassine Ghazi sold 29,136 shares of the company’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $319.46, for a total transaction of $9,307,786.56. Following the transaction, the chief operating officer now owns 52,609 shares of the company’s stock, valued at $16,806,471.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,736 shares of company stock worth $21,590,891. Corporate insiders own 0.69% of the company’s stock.

Synopsys Price Performance

Shares of SNPS opened at $372.53 on Friday. Synopsys, Inc. has a one year low of $255.02 and a one year high of $391.17. The company has a market cap of $56.74 billion, a P/E ratio of 61.47, a P/E/G ratio of 3.25 and a beta of 1.18. The firm has a 50 day simple moving average of $356.08 and a two-hundred day simple moving average of $329.77.

Synopsys (NASDAQ:SNPS – Get Rating) last announced its quarterly earnings data on Wednesday, February 15th. The semiconductor company reported $2.62 EPS for the quarter, beating the consensus estimate of $2.50 by $0.12. Synopsys had a net margin of 18.22% and a return on equity of 16.88%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the previous year, the business earned $1.78 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. On average, analysts expect that Synopsys, Inc. will post 7.2 earnings per share for the current fiscal year.

Synopsys Profile

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Synopsys, Inc engages in the provision of software products and consulting services in the electronic design automation industry. It operates through the following segments: Semiconductor and System Design, and Software Integrity. The Semiconductor and System Design segment includes the EDA, IP and System Integration.