Ballentine Partners LLC Has $570,000 Stake in Synopsys, Inc. (NASDAQ:SNPS)

Ballentine Partners LLC raised its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 55.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,329 shares of the semiconductor company's stock after buying an additional 475 shares during the period. Ballentine Partners LLC's holdings in Synopsys were worth $570,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Ameriflex Group Inc. bought a new position in shares of Synopsys in the fourth quarter worth about $29,000. Cornerstone Planning Group LLC raised its position in Synopsys by 275.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 44 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in Synopsys during the 4th quarter worth $34,000. Cloud Capital Management LLC bought a new position in Synopsys in the 1st quarter valued at $36,000. Finally, Hazlett Burt & Watson Inc. boosted its position in Synopsys by 28.6% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock valued at $44,000 after buying an additional 20 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Synopsys Stock Up 3.6%

Synopsys stock traded up $19.57 during mid-day trading on Tuesday, reaching $569.10. The company's stock had a trading volume of 3,178,292 shares, compared to its average volume of 1,217,063. 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, Inc. has a 12 month low of $365.74 and a 12 month high of $621.24. The business's 50 day simple moving average is $500.71 and its 200 day simple moving average is $480.34. The company has a market capitalization of $88.30 billion, a price-to-earnings ratio of 41.09, a price-to-earnings-growth ratio of 3.69 and a beta of 1.12.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.60 billion. During the same quarter last year, the company earned $3.00 EPS. Synopsys's revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, research analysts anticipate that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Insider Activity

In related news, CFO Shelagh Glaser sold 7,310 shares of the firm's stock in a transaction 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 transaction, the chief financial officer directly owned 15,291 shares of the company's stock, valued at approximately $7,427,144.52. This trade represents a 32.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Richard S. Mahoney sold 9,010 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the transaction, the executive owned 1,485 shares in the company, valued at $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 90 days, insiders sold 27,686 shares of company stock valued at $13,001,048. 0.62% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Stifel Nicolaus set a $550.00 price objective on Synopsys in a report on Monday, April 28th. Mizuho dropped their price objective on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Needham & Company LLC upped their price target on Synopsys from $650.00 to $660.00 and gave the company a "buy" rating in a research note on Tuesday. KeyCorp lifted their price objective on shares of Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Finally, Piper Sandler reaffirmed 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. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $613.33.

Synopsys 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.