AMI Asset Management Corp Lowers Position in Synopsys, Inc. (NASDAQ:SNPS)

AMI Asset Management Corp cut its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 3.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,551 shares of the semiconductor company's stock after selling 2,340 shares during the quarter. AMI Asset Management Corp's holdings in Synopsys were worth $25,967,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Dynamic Advisor Solutions LLC purchased a new stake in Synopsys in the 1st quarter worth approximately $1,000,000. Bancreek Capital Management LP purchased a new stake in Synopsys in the 4th quarter worth approximately $3,827,000. Wealth Enhancement Advisory Services LLC lifted its stake in Synopsys by 3.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 20,172 shares of the semiconductor company's stock worth $8,651,000 after purchasing an additional 655 shares in the last quarter. Cullen Frost Bankers Inc. raised its position in shares of Synopsys by 5.4% during the 4th quarter. Cullen Frost Bankers Inc. now owns 15,319 shares of the semiconductor company's stock valued at $7,435,000 after buying an additional 791 shares in the last quarter. Finally, Andra AP fonden raised its position in shares of Synopsys by 61.1% during the 4th quarter. Andra AP fonden now owns 11,600 shares of the semiconductor company's stock valued at $5,630,000 after buying an additional 4,400 shares in the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SNPS. Stifel Nicolaus set a $550.00 price objective on shares of Synopsys in a research report on Monday, April 28th. Needham & Company LLC restated a "buy" rating and set a $650.00 price objective on shares of Synopsys in a research report on Thursday, May 29th. Rosenblatt Securities lowered their price objective 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 reduced their target price on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, Bank of America reduced their target price on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $607.14.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the business's 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 sale, the chief executive officer now directly owns 71,589 shares in the company, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Shelagh Glaser sold 7,310 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the completion of the transaction, the chief financial officer now owns 15,291 shares of the company's stock, valued at approximately $7,427,144.52. The trade was a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,686 shares of company stock worth $13,001,048. 0.62% of the stock is owned by company insiders.

Synopsys Stock Performance

Shares of SNPS stock traded up $6.93 during trading hours on Friday, reaching $502.63. The company had a trading volume of 2,153,499 shares, compared to its average volume of 1,164,833. The business has a fifty day moving average price of $479.33 and a 200-day moving average price of $477.10. Synopsys, Inc. has a one year low of $365.74 and a one year high of $624.80. The firm has a market cap of $77.99 billion, a PE ratio of 36.29, a price-to-earnings-growth ratio of 3.32 and a beta of 1.11. 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 announced its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, topping 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 firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the business posted $3.00 earnings per share. The business's revenue for the quarter was up 10.3% on a year-over-year basis. Sell-side analysts predict that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

About Synopsys

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.