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Graybill Wealth Management LTD. Purchases New Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Synopsys logo with Computer and Technology background

Graybill Wealth Management LTD. purchased a new position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 14,809 shares of the semiconductor company's stock, valued at approximately $6,351,000. Synopsys accounts for about 2.2% of Graybill Wealth Management LTD.'s portfolio, making the stock its 18th largest position.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Synopsys by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company's stock worth $7,029,360,000 after acquiring an additional 120,575 shares in the last quarter. Capital World Investors boosted its position in shares of Synopsys by 1.6% in the fourth quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company's stock worth $3,533,526,000 after purchasing an additional 114,893 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Synopsys by 21.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock valued at $2,864,933,000 after purchasing an additional 1,045,326 shares during the period. Geode Capital Management LLC raised its position in shares of Synopsys by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company's stock valued at $1,625,230,000 after purchasing an additional 75,298 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in shares of Synopsys by 26.2% during the 4th quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock valued at $916,441,000 after buying an additional 391,681 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SNPS. Needham & Company LLC reiterated a "buy" rating and issued a $650.00 price target on shares of Synopsys in a research note on Thursday, May 29th. Stifel Nicolaus set a $550.00 target price on Synopsys in a research report on Monday, April 28th. KeyCorp lifted their target price on Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a research note on Thursday. Piper Sandler reissued an "overweight" rating and issued a $615.00 price target (down from $653.00) on shares of Synopsys in a report on Thursday, May 29th. Finally, Rosenblatt Securities cut their price objective on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a report on Thursday, May 29th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $612.67.

Read Our Latest Stock Analysis on SNPS

Insider Activity at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $457.93, for a total value of $5,204,832.38. Following the completion of the sale, the chief executive officer directly owned 71,589 shares of the company's stock, valued at $32,782,750.77. This trade represents a 13.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Richard S. Mahoney sold 9,010 shares of Synopsys stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total value of $4,245,602.10. Following the completion of the transaction, the executive owned 1,485 shares of the company's stock, valued at approximately $699,746.85. This trade represents a 85.85% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,686 shares of company stock valued at $13,001,048. Insiders own 0.62% of the company's stock.

Synopsys Price Performance

Shares of SNPS traded down $9.75 during mid-day trading on Monday, hitting $549.53. 5,083,402 shares of the stock were exchanged, compared to its average volume of 1,321,682. The firm has a 50-day moving average of $499.27 and a two-hundred day moving average of $479.93. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $621.24. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02. The company has a market cap of $85.27 billion, a PE ratio of 39.68, a price-to-earnings-growth ratio of 3.69 and a beta of 1.12.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the firm earned $3.00 earnings per share. Synopsys's revenue was up 10.3% on a year-over-year basis. On average, equities analysts predict that Synopsys, Inc. will post 10.64 earnings per share for the current year.

About Synopsys

(Free Report)

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.

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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