Bath Savings Trust Co Acquires New Stake in Synopsys, Inc. (NASDAQ:SNPS)

Bath Savings Trust Co acquired a new position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 853 shares of the semiconductor company's stock, valued at approximately $366,000.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Synopsys by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company's stock worth $7,029,360,000 after acquiring an additional 120,575 shares during the period. Capital World Investors grew its position in shares of Synopsys by 1.6% in the fourth quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company's stock valued at $3,533,526,000 after purchasing an additional 114,893 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Synopsys by 21.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock worth $2,864,933,000 after acquiring an additional 1,045,326 shares during the period. Geode Capital Management LLC boosted its holdings in Synopsys by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company's stock valued at $1,625,230,000 after purchasing an additional 75,298 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in Synopsys by 26.2% in the fourth quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock worth $916,441,000 after acquiring an additional 391,681 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SNPS shares. Needham & Company LLC restated a "buy" rating and set a $650.00 price target on shares of Synopsys in a research report on Thursday, May 29th. Mizuho dropped their price target on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Rosenblatt Securities cut their price objective on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. KeyCorp set a $575.00 target price on shares of Synopsys and gave the company an "overweight" rating in a report on Tuesday, May 20th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $615.00 target price (down from $653.00) on shares of Synopsys in a research report on Thursday, May 29th. 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 stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $609.64.

Synopsys Stock Up 0.8%

NASDAQ:SNPS traded up $3.59 during midday trading on Wednesday, reaching $469.85. The stock had a trading volume of 310,747 shares, compared to its average volume of 1,139,422. The stock has a market cap of $72.90 billion, a P/E ratio of 32.36, a P/E/G ratio of 3.23 and a beta of 1.16. The firm has a fifty day simple moving average of $454.18 and a two-hundred day simple moving average of $484.63. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $624.80.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its 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. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.60 billion. Synopsys had a net margin of 36.12% and a return on equity of 20.48%. The business's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.00 earnings per share. On average, sell-side analysts anticipate that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Insider Transactions at Synopsys

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the transaction, the insider now directly owns 116,671 shares in the company, valued at approximately $51,850,925.82. This represents a 11.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $457.93, for a total value of $5,204,832.38. Following the sale, the chief executive officer now 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 disclosure for this sale can be found here. Company 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.