Artemis Investment Management LLP Decreases Stake in Synopsys, Inc. (NASDAQ:SNPS)

Artemis Investment Management LLP cut its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 29.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,509 shares of the semiconductor company's stock after selling 7,369 shares during the period. Artemis Investment Management LLP's holdings in Synopsys were worth $7,509,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SNPS. Advisors Capital Management LLC grew its stake in shares of Synopsys by 2.3% during the 4th quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company's stock worth $408,000 after acquiring an additional 19 shares during the period. Barden Capital Management Inc. grew its stake in shares of Synopsys by 1.1% during the 4th quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company's stock worth $889,000 after acquiring an additional 20 shares during the period. Hazlett Burt & Watson Inc. grew its stake in shares of Synopsys by 28.6% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after acquiring an additional 20 shares during the period. Peninsula Wealth LLC grew its stake in shares of Synopsys by 0.5% during the 4th quarter. Peninsula Wealth LLC now owns 4,224 shares of the semiconductor company's stock worth $2,050,000 after acquiring an additional 20 shares during the period. Finally, Williams Jones Wealth Management LLC. grew its stake in shares of Synopsys by 0.5% during the 4th quarter. Williams Jones Wealth Management LLC. now owns 4,650 shares of the semiconductor company's stock worth $2,257,000 after acquiring an additional 22 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Synopsys Price Performance

Shares of NASDAQ:SNPS traded up $6.93 on Friday, hitting $502.63. The company's stock had a trading volume of 2,153,499 shares, compared to its average volume of 1,164,250. The company has a 50-day simple moving average of $479.33 and a 200 day simple moving average of $477.58. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80. The company has a market capitalization of $77.99 billion, a PE ratio of 36.29, a PEG ratio of 3.27 and a beta of 1.11. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85.

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 for the quarter, beating the consensus estimate of $3.40 by $0.27. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The firm had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.60 billion. During the same quarter last year, the firm posted $3.00 EPS. The company's revenue was up 10.3% compared to the same quarter last year. Sell-side analysts forecast that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Stifel Nicolaus set a $550.00 price target on Synopsys in a research note on Monday, April 28th. Piper Sandler restated an "overweight" rating and issued a $615.00 target price (down previously from $653.00) on shares of Synopsys in a research note on Thursday, May 29th. Bank of America cut their target price on Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Needham & Company LLC restated a "buy" rating and issued a $650.00 target price on shares of Synopsys in a research note on Thursday, May 29th. Finally, KeyCorp set a $540.00 target price on Synopsys in a research note on Tuesday, June 3rd. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $607.14.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 71,589 shares of the company's stock, valued at approximately $32,782,750.77. This trade represents a 13.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO Richard S. Mahoney sold 9,010 shares of the firm's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total value of $4,245,602.10. Following the transaction, the executive now directly owns 1,485 shares in the company, valued at approximately $699,746.85. This represents a 85.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,686 shares of company stock valued at $13,001,048. Corporate insiders own 0.62% of the company's stock.

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.