State of Tennessee Treasury Department lifted its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 25.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 48,527 shares of the semiconductor company’s stock after acquiring an additional 9,846 shares during the quarter. State of Tennessee Treasury Department’s holdings in Synopsys were worth $5,588,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SNPS. Flagship Harbor Advisors LLC increased its holdings in Synopsys by 78.7% during the first quarter. Flagship Harbor Advisors LLC now owns 227 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 100 shares during the period. Tompkins Financial Corp increased its holdings in Synopsys by 63.7% during the first quarter. Tompkins Financial Corp now owns 280 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 109 shares during the period. Executive Wealth Management LLC purchased a new position in Synopsys during the fourth quarter valued at approximately $29,000. Hanseatic Management Services Inc. purchased a new position in Synopsys during the first quarter valued at approximately $30,000. Finally, Riverview Trust Co purchased a new position in Synopsys during the fourth quarter valued at approximately $35,000. 91.89% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts recently issued reports on SNPS shares. DA Davidson lifted their price objective on shares of Synopsys to $125.00 and gave the company a “positive” rating in a report on Thursday, February 21st. Zacks Investment Research raised shares of Synopsys from a “hold” rating to a “strong-buy” rating and set a $117.00 price objective on the stock in a report on Monday, February 25th. BidaskClub raised shares of Synopsys from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 13th. Needham & Company LLC reissued a “buy” rating and set a $120.00 price objective (up from $115.00) on shares of Synopsys in a report on Thursday, March 28th. Finally, KeyCorp started coverage on shares of Synopsys in a report on Wednesday, April 10th. They set an “overweight” rating and a $135.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $124.00.

In other Synopsys news, CEO Chi-Foon Chan sold 5,105 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $117.15, for a total value of $598,050.75. Following the completion of the sale, the chief executive officer now directly owns 204,117 shares in the company, valued at $23,912,306.55. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel John F. Runkel, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $109.51, for a total transaction of $547,550.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 190,388 shares of company stock valued at $22,287,494. 1.84% of the stock is owned by insiders.

SNPS traded up $0.48 during trading on Wednesday, hitting $126.62. The stock had a trading volume of 13,750 shares, compared to its average volume of 1,151,538. The company has a market cap of $18.91 billion, a price-to-earnings ratio of 44.92, a price-to-earnings-growth ratio of 3.72 and a beta of 1.26. Synopsys, Inc. has a twelve month low of $79.14 and a twelve month high of $127.91. The company has a quick ratio of 0.85, a current ratio of 0.95 and a debt-to-equity ratio of 0.03.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, May 22nd. The semiconductor company reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.04. The company had revenue of $836.20 million during the quarter, compared to the consensus estimate of $829.41 million. Synopsys had a net margin of 18.74% and a return on equity of 16.88%. Synopsys’s revenue was up 7.6% compared to the same quarter last year. During the same period last year, the firm earned $1.08 earnings per share. On average, sell-side analysts expect that Synopsys, Inc. will post 3.03 EPS for the current year.

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About Synopsys

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits (ICs). It offers Fusion Design Platform, a digital design implementation solution; Verification Continuum Platform, which provides 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.

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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