Amalgamated Bank Grows Stake in Synopsys, Inc. (NASDAQ:SNPS)

Amalgamated Bank boosted its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 3.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,782 shares of the semiconductor company's stock after buying an additional 1,079 shares during the quarter. Amalgamated Bank's holdings in Synopsys were worth $14,059,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in Synopsys in the fourth quarter worth about $583,608,000. GAMMA Investing LLC increased its stake in Synopsys by 54,286.0% in the first quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company's stock worth $513,116,000 after purchasing an additional 1,194,292 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Synopsys by 21.5% during the fourth 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 purchasing an additional 1,045,326 shares during the last quarter. Capital Research Global Investors purchased a new stake in shares of Synopsys during the fourth quarter valued at $239,864,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Synopsys during the fourth quarter valued at $199,065,000. Hedge funds and other institutional investors own 85.47% of the company's stock.

Insider Buying and Selling

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 sale, the chief financial officer directly owned 15,291 shares in the company, valued at $7,427,144.52. This trade represents a 32.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sassine Ghazi sold 11,366 shares of the business'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 transaction of $5,204,832.38. Following the sale, the chief executive officer directly owned 71,589 shares in the company, valued at approximately $32,782,750.77. This represents a 13.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,686 shares of company stock worth $13,001,048 in the last ninety days. 0.62% of the stock is owned by insiders.

Synopsys Stock Performance

SNPS stock opened at $512.68 on Tuesday. The firm has a market cap of $79.55 billion, a price-to-earnings ratio of 37.02, a PEG ratio of 3.32 and a beta of 1.11. The firm has a 50-day simple moving average of $481.54 and a two-hundred day simple moving average of $477.13. Synopsys, Inc. has a one year low of $365.74 and a one year high of $624.80. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, beating analysts' consensus estimates of $3.40 by $0.27. The company had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.60 billion. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. Synopsys's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.00 earnings per share. On average, equities analysts forecast that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SNPS shares. Needham & Company LLC reissued a "buy" rating and issued a $650.00 price objective on shares of Synopsys in a research report on Thursday, May 29th. Mizuho lowered their price target on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. KeyCorp set a $540.00 price objective on Synopsys in a report on Tuesday, June 3rd. Stifel Nicolaus set a $550.00 target price on Synopsys in a report on Monday, April 28th. Finally, Rosenblatt Securities cut their price target on Synopsys from $660.00 to $625.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Synopsys has an average rating of "Moderate Buy" and a consensus target price of $607.14.

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.

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