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Diversify Advisory Services LLC Cuts Stake in Synopsys, Inc. (NASDAQ:SNPS)

Synopsys logo with Computer and Technology background

Diversify Advisory Services LLC lessened its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 70.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 518 shares of the semiconductor company's stock after selling 1,262 shares during the period. Diversify Advisory Services LLC's holdings in Synopsys were worth $239,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Synopsys by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company's stock valued at $7,029,360,000 after buying an additional 120,575 shares during the period. Capital World Investors lifted its holdings in Synopsys by 1.6% during the 4th quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company's stock worth $3,533,526,000 after buying an additional 114,893 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in 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 buying an additional 1,045,326 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Synopsys by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company's stock worth $1,625,230,000 after buying an additional 75,298 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its holdings in Synopsys by 38.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company's stock worth $1,043,518,000 after buying an additional 673,837 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

Insider Activity at Synopsys

In related news, CRO Richard S. Mahoney sold 9,010 shares of the stock in a transaction that occurred on 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 sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Shelagh Glaser sold 7,310 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the completion of the sale, the chief financial officer owned 15,291 shares in the company, valued at $7,427,144.52. This represents a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,686 shares of company stock valued at $13,001,048 over the last ninety days. 0.62% of the stock is owned by insiders.

Synopsys Trading Up 1.1%

NASDAQ:SNPS opened at $591.46 on Tuesday. The stock's 50 day moving average price is $508.54 and its 200 day moving average price is $482.95. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $600.90. The company has a market capitalization of $91.77 billion, a P/E ratio of 59.43, a P/E/G ratio of 3.87 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 (NASDAQ:SNPS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, beating the consensus estimate of $3.40 by $0.27. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.60 billion. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the company posted $3.00 earnings per share. On average, research analysts forecast that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SNPS. The Goldman Sachs Group started coverage on shares of Synopsys in a research report on Thursday, July 10th. They set a "buy" rating and a $620.00 price objective on the stock. Rosenblatt Securities lowered their target price 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. Stifel Nicolaus set a $550.00 price objective on shares of Synopsys in a research note on Monday, April 28th. Bank of America raised their price objective on shares of Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, Needham & Company LLC raised their price objective on shares of Synopsys from $650.00 to $660.00 and gave the company a "buy" rating in a research note on Tuesday, July 15th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $620.67.

Check Out Our Latest Stock Analysis on Synopsys

About Synopsys

(Free Report)

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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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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