AlphaCore Capital LLC Trims Stake in Synopsys, Inc. (NASDAQ:SNPS)

AlphaCore Capital LLC trimmed its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 9.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,919 shares of the semiconductor company's stock after selling 531 shares during the period. AlphaCore Capital LLC's holdings in Synopsys were worth $2,387,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of SNPS. Norges Bank bought a new position in Synopsys in the 4th quarter valued at $583,608,000. Price T Rowe Associates Inc. MD lifted its holdings 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 worth $2,864,933,000 after acquiring an additional 1,045,326 shares during the last quarter. Capital Research Global Investors bought a new stake in shares of Synopsys during the 4th quarter worth $239,864,000. Raymond James Financial Inc. bought a new stake in shares of Synopsys during the 4th quarter worth $199,065,000. Finally, Ameriprise Financial Inc. lifted its holdings 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 worth $916,441,000 after acquiring an additional 391,681 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Insider Buying and Selling at Synopsys

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $444.42, for a total value of $6,979,616.10. Following the transaction, the insider now owns 116,671 shares in the company, valued at approximately $51,850,925.82. The trade was a 11.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the transaction, the chief executive officer now owns 70,922 shares in the company, valued at $32,890,077.50. This represents a 13.81% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company's stock.

Synopsys Trading Down 2.3%

Shares of SNPS stock traded down $10.45 during mid-day trading on Thursday, reaching $451.98. The stock had a trading volume of 2,744,253 shares, compared to its average volume of 1,128,897. The stock's 50-day moving average price is $453.45 and its two-hundred day moving average price is $487.42. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $624.80. The firm has a market capitalization of $69.89 billion, a PE ratio of 31.16, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its quarterly earnings data 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 36.12% and a return on equity of 20.48%. The firm had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.60 billion. During the same quarter in the previous year, the company earned $3.00 earnings per share. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. On average, equities research analysts forecast that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Analyst Ratings Changes

SNPS has been the subject of a number of research analyst reports. KeyCorp set a $575.00 price objective on shares of Synopsys and gave the stock an "overweight" rating in a report on Tuesday, May 20th. Morgan Stanley dropped their price objective on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a report on Monday, February 24th. Rosenblatt Securities dropped 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. Piper Sandler reaffirmed an "overweight" rating and set a $615.00 price objective (down from $653.00) on shares of Synopsys in a report on Thursday. Finally, Mizuho lowered their price target on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $609.64.

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.