Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. increased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 23.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,434 shares of the semiconductor company’s stock after acquiring an additional 657 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Synopsys were worth $1,495,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SNPS. Freedom Wealth Alliance LLC purchased a new position in Synopsys during the fourth quarter worth about $26,000. VitalStone Financial LLC purchased a new position in Synopsys during the first quarter worth about $30,000. Ancora Advisors LLC purchased a new position in Synopsys during the fourth quarter worth about $30,000. HHM Wealth Advisors LLC purchased a new position in Synopsys during the first quarter worth about $31,000. Finally, Compagnie Lombard Odier SCmA raised its stake in Synopsys by 470.0% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 114 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 94 shares during the period. 84.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SNPS. Rosenblatt Securities reaffirmed a “buy” rating and set a $485.00 target price on shares of Synopsys in a research note on Wednesday, August 23rd. KeyCorp boosted their price target on shares of Synopsys from $500.00 to $515.00 and gave the company an “overweight” rating in a research note on Thursday, August 17th. StockNews.com raised shares of Synopsys from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 25th. Needham & Company LLC reissued a “buy” rating and issued a $500.00 price target on shares of Synopsys in a research note on Tuesday, August 15th. Finally, Stifel Nicolaus boosted their price target on shares of Synopsys from $445.00 to $470.00 and gave the company a “buy” rating in a research note on Thursday, August 17th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $462.50.

Synopsys Price Performance

Shares of SNPS stock traded up $6.99 during trading on Monday, reaching $458.92. The company’s stock had a trading volume of 183,755 shares, compared to its average volume of 858,004. Synopsys, Inc. has a 1-year low of $267.00 and a 1-year high of $471.15. The company has a market capitalization of $69.80 billion, a price-to-earnings ratio of 67.76, a P/E/G ratio of 3.61 and a beta of 1.11. The stock’s 50-day moving average price is $448.02 and its 200 day moving average price is $415.10.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, August 16th. The semiconductor company reported $2.88 EPS for the quarter, topping the consensus estimate of $2.74 by $0.14. Synopsys had a net margin of 18.71% and a return on equity of 18.01%. The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the business posted $1.43 EPS. The firm’s revenue was up 19.2% on a year-over-year basis. On average, sell-side analysts anticipate that Synopsys, Inc. will post 7.87 EPS for the current fiscal year.

Insider Activity

In other news, CEO Geus Aart De sold 40,839 shares of the company’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $428.18, for a total value of $17,486,443.02. Following the completion of the transaction, the chief executive officer now owns 94,421 shares in the company, valued at approximately $40,429,183.78. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Geus Aart De sold 40,839 shares of the company’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $428.18, for a total value of $17,486,443.02. Following the completion of the sale, the chief executive officer now owns 94,421 shares in the company, valued at approximately $40,429,183.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John F. Runkel, Jr. sold 2,507 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $454.35, for a total transaction of $1,139,055.45. Following the completion of the sale, the insider now owns 24,697 shares of the company’s stock, valued at approximately $11,221,081.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,953 shares of company stock worth $22,116,008. Corporate insiders own 0.69% of the company’s stock.

Synopsys Company Profile

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. 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.