Banco Santander S.A. Has $1.13 Million Stake in Synopsys, Inc. (NASDAQ:SNPS)

Key Points

• Banco Santander S.A. reduced its stake in Synopsys, Inc. by 37.3%, selling 1,565 shares and holding 2,629 shares valued at approximately $1,127,000 at the end of the reporting period.
• Wall Street analysts have updated price targets for Synopsys, with Piper Sandler increasing theirs from $615.00 to $660.00, while the stock maintains an average rating of "Moderate Buy" and a target price of $622.33.
• Insider sales have been significant, with CFO Shelagh Glaser selling 7,310 shares for over $3.5 million, and CEO Sassine Ghazi selling 11,366 shares valued at about $5.2 million, indicating a decrease in their ownership stakes.

Banco Santander S.A. lessened its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 37.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,629 shares of the semiconductor company's stock after selling 1,565 shares during the quarter. Banco Santander S.A.'s holdings in Synopsys were worth $1,127,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC increased 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 valued at $25,000 after acquiring an additional 44 shares in the last quarter. Ameriflex Group Inc. acquired a new stake in shares of Synopsys during the 4th quarter worth approximately $29,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Synopsys during the 4th quarter worth approximately $34,000. Cloud Capital Management LLC acquired a new stake in shares of Synopsys during the 1st quarter worth approximately $36,000. Finally, Meeder Asset Management Inc. grew its position in shares of Synopsys by 33.3% during the 1st quarter. Meeder Asset Management Inc. now owns 104 shares of the semiconductor company's stock worth $45,000 after buying an additional 26 shares during the period. Institutional investors and hedge funds own 85.47% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SNPS shares. Bank of America lifted their price target on shares of Synopsys from $575.00 to $625.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Needham & Company LLC reissued a "buy" rating and set a $660.00 price objective (up previously from $650.00) on shares of Synopsys in a research note on Tuesday, July 15th. 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. Stifel Nicolaus set a $550.00 price target on shares of Synopsys in a research note on Monday, April 28th. Finally, Rosenblatt Securities lifted their price target on shares of Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a research note on Friday, July 25th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Synopsys has an average rating of "Moderate Buy" and a consensus target price of $622.33.

Synopsys Stock Performance

Shares of NASDAQ:SNPS traded down $7.52 on Tuesday, hitting $628.50. The company had a trading volume of 1,032,082 shares, compared to its average volume of 2,496,804. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $651.73. The stock has a market cap of $97.52 billion, a price-to-earnings ratio of 45.38, a P/E/G ratio of 4.21 and a beta of 1.15. The stock has a 50 day moving average price of $532.39 and a 200 day moving average price of $491.96. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01.

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

Insider Activity at Synopsys

In related news, CFO Shelagh Glaser sold 7,310 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer directly owned 15,291 shares in the company, valued at approximately $7,427,144.52. This represents a 32.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Richard S. Mahoney sold 9,010 shares of the 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 sale, the executive owned 1,485 shares in the company, valued at $699,746.85. The trade was a 85.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,686 shares of company stock worth $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.