GKV Capital Management Co. Inc. Sells 1,873 Shares of Synopsys, Inc. $SNPS

Key Points

• GKV Capital Management Co. Inc. significantly reduced its stake in Synopsys, Inc. by 93.0%, selling 1,873 shares and now holding only 142 shares valued at approximately $61,000.
• Recent insider transactions include the CFO selling 7,310 shares and the CEO selling 11,366 shares, reflecting a decrease in their holdings by 32.34% and 13.70%, respectively.
• Synopsys reported quarterly earnings of $3.67 EPS, surpassing expectations and indicating a 10.3% revenue increase compared to the previous year.

GKV Capital Management Co. Inc. trimmed its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 93.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 142 shares of the semiconductor company's stock after selling 1,873 shares during the quarter. GKV Capital Management Co. Inc.'s holdings in Synopsys were worth $61,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the company. Williams Jones Wealth Management LLC. increased its position in Synopsys by 0.5% in the fourth quarter. Williams Jones Wealth Management LLC. now owns 4,650 shares of the semiconductor company's stock worth $2,257,000 after buying an additional 22 shares during the last quarter. Hardy Reed LLC increased its position in Synopsys by 0.7% in the first quarter. Hardy Reed LLC now owns 3,290 shares of the semiconductor company's stock worth $1,411,000 after buying an additional 22 shares during the last quarter. Resurgent Financial Advisors LLC increased its position in Synopsys by 2.7% in the first quarter. Resurgent Financial Advisors LLC now owns 832 shares of the semiconductor company's stock worth $357,000 after buying an additional 22 shares during the last quarter. Trust Asset Management LLC increased its position in Synopsys by 1.3% in the first quarter. Trust Asset Management LLC now owns 1,766 shares of the semiconductor company's stock worth $757,000 after buying an additional 22 shares during the last quarter. Finally, Argent Trust Co increased its position in Synopsys by 2.8% in the first quarter. Argent Trust Co now owns 856 shares of the semiconductor company's stock worth $367,000 after buying an additional 23 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on SNPS shares. Wells Fargo & Company reissued a "positive" rating on shares of Synopsys in a research report on Wednesday, August 27th. Needham & Company LLC reissued a "buy" rating and issued a $660.00 target price (up from $650.00) on shares of Synopsys in a research report on Tuesday, July 15th. Piper Sandler lifted their price target on Synopsys from $615.00 to $660.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Bank of America lifted their price target on Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $715.00 price target (up from $540.00) on shares of Synopsys in a research report on Monday, August 11th. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $634.64.

Insider Buying and Selling at Synopsys

In related news, CRO Richard S. Mahoney sold 9,010 shares of Synopsys stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the completion of the sale, the executive owned 1,485 shares of the company's stock, valued at approximately $699,746.85. This trade represents a 85.85% 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 directly owned 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. 0.62% of the stock is currently owned by company insiders.

Synopsys Stock Performance

Shares of NASDAQ SNPS traded down $11.51 during mid-day trading on Tuesday, hitting $592.01. The company had a trading volume of 1,388,123 shares, compared to its average volume of 1,407,543. The company has a market capitalization of $91.86 billion, a price-to-earnings ratio of 42.74, a P/E/G ratio of 3.97 and a beta of 1.14. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $651.73. The stock's 50-day moving average price is $585.72 and its 200-day moving average price is $503.81. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01.

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.