BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 62,410 Shares of Synopsys, Inc. $SNPS

Key Points

• BNP PARIBAS ASSET MANAGEMENT Holding S.A. decreased its holdings in Synopsys, Inc. by 46.6%, selling 62,410 shares, leaving them with 71,510 shares valued at approximately $30.7 million.
• Synopsys reported earnings of $3.67 per share for the last quarter, surpassing analysts' expectations and marking a 10.3% increase in revenue year-over-year, total revenue reaching $1.60 billion.
• Multiple analysts have recently increased their price targets for Synopsys, with estimates ranging from $550.00 to $715.00, indicating a generally positive outlook on the stock.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lowered its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 46.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,510 shares of the semiconductor company's stock after selling 62,410 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings in Synopsys were worth $30,704,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of SNPS. Williams Jones Wealth Management LLC. grew its position in Synopsys by 0.5% during the fourth quarter. Williams Jones Wealth Management LLC. now owns 4,650 shares of the semiconductor company's stock valued at $2,257,000 after buying an additional 22 shares during the period. Hardy Reed LLC grew its stake in shares of Synopsys by 0.7% in the 1st quarter. Hardy Reed LLC now owns 3,290 shares of the semiconductor company's stock worth $1,411,000 after buying an additional 22 shares in the last quarter. Resurgent Financial Advisors LLC grew its position in Synopsys by 2.7% in the first quarter. Resurgent Financial Advisors LLC now owns 832 shares of the semiconductor company's stock worth $357,000 after acquiring an additional 22 shares in the last quarter. Trust Asset Management LLC lifted its holdings in shares of Synopsys by 1.3% in the 1st quarter. Trust Asset Management LLC now owns 1,766 shares of the semiconductor company's stock worth $757,000 after acquiring an additional 22 shares during the last quarter. Finally, Harbour Investments Inc. boosted its position in shares of Synopsys by 10.8% during the first quarter. Harbour Investments Inc. now owns 235 shares of the semiconductor company's stock valued at $101,000 after buying an additional 23 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Trading Up 0.3%

Shares of SNPS opened at $617.91 on Monday. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $651.73. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01. The stock's 50-day moving average price is $558.90 and its 200 day moving average price is $497.65. The firm has a market capitalization of $95.87 billion, a price-to-earnings ratio of 44.61, a P/E/G ratio of 4.09 and a beta of 1.15.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, topping 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 firm had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.60 billion. During the same quarter in the previous year, the company posted $3.00 EPS. Synopsys's revenue was up 10.3% on a year-over-year basis. As a group, research analysts predict that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Insider Buying and Selling

In related news, CRO Richard S. Mahoney sold 9,010 shares of the company'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 directly owned 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer directly owned 71,589 shares in the company, valued at approximately $32,782,750.77. This represents a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 27,686 shares of company stock valued at $13,001,048. 0.62% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SNPS shares. Rosenblatt Securities boosted their target price 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. Stifel Nicolaus set a $550.00 price target on Synopsys in a research report on Monday, April 28th. Morgan Stanley reaffirmed an "overweight" rating and set a $715.00 target price (up from $540.00) on shares of Synopsys in a research report on Monday, August 11th. The Goldman Sachs Group assumed coverage on Synopsys in a report on Thursday, July 10th. They issued a "buy" rating and a $620.00 price objective on the stock. Finally, Needham & Company LLC reissued a "buy" rating and set a $660.00 target price (up previously from $650.00) on shares of Synopsys in a research note on Tuesday, July 15th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $630.67.

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.

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