Ifrah Financial Services Inc. Has $1.44 Million Stake in Synopsys, Inc. (NASDAQ:SNPS)

Ifrah Financial Services Inc. trimmed its stake in Synopsys, Inc. (NASDAQ:SNPS) by 6.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,362 shares of the semiconductor company’s stock after selling 221 shares during the period. Ifrah Financial Services Inc.’s holdings in Synopsys were worth $1,442,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Cloud Capital Management LLC acquired a new stake in Synopsys in the first quarter valued at $36,000. McGlone Suttner Wealth Management Inc. boosted its position in Synopsys by 43.1% during the first quarter. McGlone Suttner Wealth Management Inc. now owns 1,139 shares of the semiconductor company’s stock valued at $488,000 after acquiring an additional 343 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in Synopsys by 64.6% during the first quarter. Concurrent Investment Advisors LLC now owns 1,495 shares of the semiconductor company’s stock valued at $641,000 after acquiring an additional 587 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Synopsys by 23.6% during the first quarter. Bank of New York Mellon Corp now owns 1,343,072 shares of the semiconductor company’s stock valued at $575,976,000 after acquiring an additional 256,823 shares during the last quarter. Finally, World Investment Advisors boosted its position in Synopsys by 9.5% during the first quarter. World Investment Advisors now owns 4,685 shares of the semiconductor company’s stock valued at $2,009,000 after acquiring an additional 406 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Synopsys

In related news, CFO Shelagh Glaser sold 7,310 shares of Synopsys stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $485.72, for a total value of $3,550,613.20. Following the completion of the transaction, the chief financial officer directly owned 15,291 shares in the company, valued at approximately $7,427,144.52. The trade was a 32.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys 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 completion of the transaction, the chief executive officer owned 71,589 shares of the company’s stock, valued at $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. Insiders sold a total of 27,686 shares of company stock worth $13,001,048 in the last quarter. Insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

SNPS has been the topic of a number of research analyst reports. Rosenblatt Securities cut their price target on shares of Synopsys from $660.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, May 29th. Mizuho cut their price objective on shares of Synopsys from $650.00 to $600.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Bank of America cut their price objective on shares of Synopsys from $630.00 to $560.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Stifel Nicolaus set a $550.00 price objective on shares of Synopsys in a research report on Monday, April 28th. Finally, Needham & Company LLC reissued a “buy” rating and set a $650.00 price objective on shares of Synopsys in a research report on Thursday, May 29th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $607.14.

Synopsys Price Performance

Synopsys stock opened at $546.76 on Friday. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $624.80. The company’s 50 day moving average price is $489.89 and its two-hundred day moving average price is $478.05. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01. The stock has a market cap of $84.83 billion, a P/E ratio of 39.48, a P/E/G ratio of 3.62 and a beta of 1.12.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.27. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter last year, the business posted $3.00 EPS. Synopsys’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, equities analysts predict that Synopsys, Inc. will post 10.64 earnings per share for the current year.

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.