Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. cut its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 16.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,045 shares of the semiconductor company's stock after selling 1,607 shares during the period. Crossmark Global Holdings Inc.'s holdings in Synopsys were worth $3,450,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC raised its position in Synopsys by 5.7% during the 4th quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company's stock worth $447,000 after buying an additional 50 shares during the last quarter. Proficio Capital Partners LLC raised its position in Synopsys by 47.7% during the 4th quarter. Proficio Capital Partners LLC now owns 796 shares of the semiconductor company's stock worth $386,000 after buying an additional 257 shares during the last quarter. Inceptionr LLC purchased a new position in Synopsys during the 4th quarter worth approximately $246,000. PNC Financial Services Group Inc. raised its position in Synopsys by 2.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 25,418 shares of the semiconductor company's stock worth $12,337,000 after buying an additional 703 shares during the last quarter. Finally, NBT Bank N A NY raised its position in Synopsys by 15.9% during the 4th quarter. NBT Bank N A NY now owns 285 shares of the semiconductor company's stock worth $138,000 after buying an additional 39 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Price Performance

NASDAQ:SNPS traded up $14.01 during trading hours on Thursday, hitting $564.96. The company's stock had a trading volume of 546,931 shares, compared to its average volume of 1,282,136. The business's 50-day moving average is $495.39 and its two-hundred day moving average is $479.26. The company has a market capitalization of $87.66 billion, a PE ratio of 40.79, a PEG ratio of 3.64 and a beta of 1.12. 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 52-week low of $365.74 and a 52-week high of $624.80.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, beating analysts' consensus estimates of $3.40 by $0.27. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The business had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.60 billion. During the same quarter last year, the business posted $3.00 earnings per share. The business's revenue for the quarter was up 10.3% on a year-over-year basis. As a group, research analysts anticipate that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Rosenblatt Securities reduced their price target on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. KeyCorp lifted their target price on shares of Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a report on Thursday. Needham & Company LLC reaffirmed a "buy" rating and set a $650.00 target price on shares of Synopsys in a report on Thursday, May 29th. Bank of America dropped their price target on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Finally, Mizuho lowered their target price 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. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $612.67.

Insider Activity

In other news, CFO Shelagh Glaser sold 7,310 shares of the firm's stock in a transaction on Friday, June 6th. The stock was 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 owned 15,291 shares in the company, valued at $7,427,144.52. This trade represents a 32.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $457.93, for a total value of $5,204,832.38. Following the completion of the transaction, the chief executive officer owned 71,589 shares of the company's stock, valued at approximately $32,782,750.77. This represents a 13.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,686 shares of company stock worth $13,001,048 over the last 90 days. 0.62% of the stock is currently owned by corporate insiders.

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.