Bank Julius Baer & Co. Ltd Zurich Sells 2,385 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Bank Julius Baer & Co. Ltd Zurich decreased its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 7.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,966 shares of the semiconductor company's stock after selling 2,385 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in Synopsys were worth $13,278,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Ameriflex Group Inc. bought a new stake in Synopsys during the 4th quarter worth approximately $29,000. Cornerstone Planning Group LLC grew its position in Synopsys by 275.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 44 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in Synopsys in the 4th quarter valued at $34,000. Cloud Capital Management LLC acquired a new position in shares of Synopsys in the 1st quarter valued at $36,000. Finally, Hazlett Burt & Watson Inc. lifted its holdings in Synopsys by 28.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after acquiring an additional 20 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Bank of America lifted their price target on Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Needham & Company LLC reaffirmed a "buy" rating and issued a $660.00 target price (up previously from $650.00) on shares of Synopsys in a research report on Tuesday, July 15th. Rosenblatt Securities lifted their target price on Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a research report on Friday. The Goldman Sachs Group began coverage on Synopsys in a research report on Thursday, July 10th. They issued a "buy" rating and a $620.00 target price on the stock. Finally, Piper Sandler boosted their price objective on Synopsys from $615.00 to $660.00 and gave the stock an "overweight" rating in a report on Monday. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $622.33.

Insider Activity at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction 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 directly owned 71,589 shares of the company's stock, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their position. 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 business's stock in a transaction on 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 completion of the sale, the executive directly owned 1,485 shares of the company's stock, 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 ninety days, insiders sold 27,686 shares of company stock worth $13,001,048. Corporate insiders own 0.62% of the company's stock.

Synopsys Trading Down 0.8%

Shares of Synopsys stock traded down $4.81 during trading on Friday, hitting $604.87. The company's stock had a trading volume of 1,041,076 shares, compared to its average volume of 1,437,764. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85. The stock has a market cap of $93.85 billion, a price-to-earnings ratio of 43.71, a price-to-earnings-growth ratio of 4.07 and a beta of 1.12. The stock has a 50-day moving average price of $516.09 and a two-hundred day moving average price of $486.19. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $618.49.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its quarterly 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 business had revenue of $1.60 billion for 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%. The business's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.00 earnings per share. Equities research analysts anticipate that Synopsys, Inc. will post 10.64 EPS 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.