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GKV Capital Management Co. Inc. Decreases Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Synopsys logo with Computer and Technology background

Key Points

  • GKV Capital Management Co. Inc. reduced its stake in Synopsys, Inc. by 93% during the 1st quarter, leaving it with only 142 shares valued at $61,000.
  • Insider transactions revealed that CRO Richard S. Mahoney and CFO Shelagh Glaser sold significant portions of their holdings, indicating a trend of insider selling at Synopsys.
  • Despite insider sales, analysts remain optimistic about Synopsys, with a consensus rating of "Moderate Buy" and an average price target of $630.67.
  • Want stock alerts on Synopsys? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

GKV Capital Management Co. Inc. lessened its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 93.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 142 shares of the semiconductor company's stock after selling 1,873 shares during the period. GKV Capital Management Co. Inc.'s holdings in Synopsys were worth $61,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Ameriflex Group Inc. bought a new stake in shares of Synopsys during the 4th quarter worth approximately $29,000. Cornerstone Planning Group LLC lifted its stake in shares of Synopsys by 275.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 44 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its stake in shares of Synopsys by 441.7% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company's stock worth $28,000 after acquiring an additional 53 shares during the last quarter. Cloud Capital Management LLC bought a new stake in shares of Synopsys during the 1st quarter worth approximately $36,000. Finally, Meeder Asset Management Inc. lifted its stake in shares of Synopsys by 33.3% during the 1st quarter. Meeder Asset Management Inc. now owns 104 shares of the semiconductor company's stock worth $45,000 after acquiring an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

Insider Transactions at Synopsys

In other 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 transaction of $4,245,602.10. Following the transaction, the executive owned 1,485 shares in the company, valued at $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 available through this hyperlink. Also, CFO Shelagh Glaser sold 7,310 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer owned 15,291 shares in the company, valued at approximately $7,427,144.52. This trade represents a 32.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,686 shares of company stock valued at $13,001,048 in the last 90 days. Insiders own 0.62% of the company's stock.

Synopsys Stock Down 1.2%

Shares of Synopsys stock opened at $618.57 on Thursday. The firm's 50 day moving average price is $553.58 and its 200-day moving average price is $496.59. 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, Inc. has a 52-week low of $365.74 and a 52-week high of $651.73. The company has a market cap of $95.98 billion, a P/E ratio of 44.66, a PEG ratio of 4.14 and a beta of 1.15.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its quarterly earnings data 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. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the previous year, the firm earned $3.00 EPS. The company's quarterly revenue was up 10.3% compared to the same quarter last year. On average, sell-side analysts predict that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SNPS has been the subject of a number of research reports. Stifel Nicolaus set a $550.00 price target on Synopsys in a report on Monday, April 28th. Piper Sandler boosted their price target on Synopsys from $615.00 to $660.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Needham & Company LLC reiterated a "buy" rating and issued a $660.00 price target (up previously from $650.00) on shares of Synopsys in a report on Tuesday, July 15th. The Goldman Sachs Group initiated coverage on Synopsys in a report on Thursday, July 10th. They issued a "buy" rating and a $620.00 price target for the company. Finally, KeyCorp boosted their price target on Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $630.67.

Get Our Latest Report on SNPS

Synopsys Profile

(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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