GHP Investment Advisors Inc. Sells 582 Shares of Synopsys, Inc. (NASDAQ:SNPS)

GHP Investment Advisors Inc. cut its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,934 shares of the semiconductor company's stock after selling 582 shares during the quarter. GHP Investment Advisors Inc.'s holdings in Synopsys were worth $8,549,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

SNPS has been the subject of a number of recent research reports. Piper Sandler reissued 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. Morgan Stanley decreased their target price on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research report on Monday, February 24th. Needham & Company LLC reissued a "buy" rating and issued a $650.00 target price on shares of Synopsys in a research report on Thursday, May 29th. Wells Fargo & Company decreased their target price on Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a research report on Thursday, February 27th. Finally, Bank of America decreased their target price on Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Synopsys has a consensus rating of "Moderate Buy" and a consensus target price of $607.14.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the completion of the sale, the chief executive officer now owns 71,589 shares of the company's stock, valued at approximately $32,782,750.77. This trade represents a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Shelagh Glaser sold 7,310 shares of Synopsys stock in a transaction on Friday, June 6th. The shares were sold at an average price of $485.72, for a total value of $3,550,613.20. Following the sale, the chief financial officer now directly owns 15,291 shares of the company's stock, valued at $7,427,144.52. This represents a 32.34% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,686 shares of company stock valued at $13,001,048. Company insiders own 0.62% of the company's stock.

Synopsys Stock Performance

Shares of NASDAQ SNPS traded up $8.00 during mid-day trading on Tuesday, hitting $478.98. The company had a trading volume of 866,095 shares, compared to its average volume of 1,155,756. The company has a market capitalization of $74.32 billion, a price-to-earnings ratio of 34.58, a P/E/G ratio of 3.11 and a beta of 1.11. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. The stock's 50-day moving average price is $474.47 and its 200-day moving average price is $477.62.

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 (EPS) for the quarter, beating the consensus estimate of $3.40 by $0.27. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.60 billion. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The firm's quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the company earned $3.00 earnings per share. On average, sell-side analysts forecast that Synopsys, Inc. will post 10.64 earnings per share for the current year.

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.