New Mexico Educational Retirement Board Raises Holdings in Synopsys, Inc. (NASDAQ:SNPS)

New Mexico Educational Retirement Board boosted its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 12.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,950 shares of the semiconductor company’s stock after buying an additional 1,000 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Synopsys were worth $5,115,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. University of Texas Texas AM Investment Managment Co. purchased a new position in Synopsys during the fourth quarter valued at approximately $28,000. Jones Financial Companies Lllp grew 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 worth $31,000 after purchasing an additional 42 shares during the last quarter. WD Rutherford LLC purchased a new position in Synopsys in the first quarter worth $40,000. Rise Advisors LLC purchased a new position in Synopsys in the first quarter worth $46,000. Finally, Quarry LP grew its holdings in Synopsys by 63.1% in the fourth quarter. Quarry LP now owns 106 shares of the semiconductor company’s stock worth $55,000 after purchasing an additional 41 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on SNPS shares. Robert W. Baird lifted their price target on shares of Synopsys from $640.00 to $645.00 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $660.00 price target on shares of Synopsys in a report on Thursday, May 23rd. Piper Sandler reiterated an “overweight” rating and set a $672.00 price objective (up from $665.00) on shares of Synopsys in a research note on Thursday, May 23rd. KeyCorp lifted their price objective on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $615.00 price objective on shares of Synopsys in a research note on Thursday, May 23rd. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $624.36.

Synopsys Stock Performance

NASDAQ SNPS traded up $0.06 on Friday, reaching $595.06. 1,019,091 shares of the company’s stock traded hands, compared to its average volume of 868,943. The firm has a market cap of $91.17 billion, a price-to-earnings ratio of 64.68, a P/E/G ratio of 3.84 and a beta of 1.08. The stock has a 50 day moving average price of $569.90 and a 200-day moving average price of $556.39. Synopsys, Inc. has a fifty-two week low of $418.51 and a fifty-two week high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.50 billion. Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.76 earnings per share. As a group, equities research analysts anticipate that Synopsys, Inc. will post 9.66 EPS for the current fiscal year.

Insider Activity at Synopsys

In other Synopsys news, insider Geus Aart De sold 8,158 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $602.59, for a total value of $4,915,929.22. Following the completion of the transaction, the insider now owns 106,983 shares in the company, valued at $64,466,885.97. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Synopsys news, insider John F. Runkel, Jr. sold 936 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $566.97, for a total value of $530,683.92. Following the completion of the transaction, the insider now owns 20,000 shares in the company, valued at $11,339,400. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Geus Aart De sold 8,158 shares of the company’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 completion of the transaction, the insider now owns 106,983 shares of the company’s stock, valued at approximately $64,466,885.97. The disclosure for this sale can be found here. Insiders sold 35,658 shares of company stock worth $20,970,824 over the last three months. Company insiders own 0.66% of the company’s stock.

Synopsys Company 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.