Deutsche Bank AG Has $312.14 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

Key Points

• Deutsche Bank AG has reduced its stake in Synopsys, Inc. by 9.8%, selling 79,509 shares to end the first quarter with 727,846 shares valued at $312.1 million.
• Several hedge funds have recently modified their holdings in Synopsys, with 85.47% of the stock currently owned by institutional investors.
• Wall Street analysts maintain a "Moderate Buy" consensus on Synopsys, with an average price target of $622.33, as firms like Piper Sandler and KeyCorp have raised their price targets significantly.

Deutsche Bank AG decreased its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 9.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 727,846 shares of the semiconductor company's stock after selling 79,509 shares during the period. Deutsche Bank AG owned approximately 0.47% of Synopsys worth $312,137,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Cornerstone Planning Group LLC grew its holdings in Synopsys by 275.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 44 shares in the last quarter. Ameriflex Group Inc. acquired a new stake in Synopsys during the 4th quarter valued at $29,000. Cloud Capital Management LLC acquired a new stake in Synopsys during the 1st quarter valued at $36,000. Meeder Asset Management Inc. grew its holdings in Synopsys by 33.3% during the 1st quarter. Meeder Asset Management Inc. now owns 104 shares of the semiconductor company's stock valued at $45,000 after purchasing an additional 26 shares in the last quarter. Finally, GoalVest Advisory LLC acquired a new stake in Synopsys during the 1st quarter valued at $50,000. Hedge funds and other institutional investors own 85.47% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SNPS shares. The Goldman Sachs Group started coverage on shares of Synopsys in a report on Thursday, July 10th. They set a "buy" rating and a $620.00 price target for the company. Bank of America upped their price target on shares of Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Stifel Nicolaus set a $550.00 price target on shares of Synopsys in a report on Monday, April 28th. Needham & Company LLC reaffirmed a "buy" rating and issued a $660.00 price target (up from $650.00) on shares of Synopsys in a report on Tuesday, July 15th. Finally, KeyCorp upped their price target on shares of Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Synopsys currently has a consensus rating of "Moderate Buy" and an average price target of $630.67.

Synopsys Stock Down 0.5%

Shares of SNPS traded down $3.28 during trading hours on Monday, reaching $616.14. The company's stock had a trading volume of 656,795 shares, compared to its average volume of 1,440,153. The company has a 50 day moving average of $544.48 and a two-hundred day moving average of $494.35. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $651.73. The firm has a market cap of $95.60 billion, a price-to-earnings ratio of 44.49, a P/E/G ratio of 4.10 and a beta of 1.15. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01.

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

Insider Activity

In related news, CFO Shelagh Glaser sold 7,310 shares of Synopsys stock in a transaction that occurred 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 sale, the chief financial officer owned 15,291 shares of the company's stock, valued at approximately $7,427,144.52. This trade represents a 32.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Richard S. Mahoney sold 9,010 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The stock was 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 $699,746.85. This trade represents a 85.85% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,686 shares of company stock worth $13,001,048. 0.62% of the stock is owned by corporate insiders.

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.