Greenleaf Trust Has $3.47 Million Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Greenleaf Trust increased its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 17.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,093 shares of the semiconductor company's stock after purchasing an additional 1,184 shares during the period. Greenleaf Trust's holdings in Synopsys were worth $3,471,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Ameriflex Group Inc. bought a new position in Synopsys in the 4th quarter worth approximately $29,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Synopsys during the fourth quarter valued at $34,000. Cloud Capital Management LLC purchased a new position in shares of Synopsys during the first quarter valued at $36,000. Hazlett Burt & Watson Inc. boosted its position in Synopsys by 28.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock valued at $44,000 after purchasing an additional 20 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its position in Synopsys by 50.8% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 98 shares of the semiconductor company's stock valued at $48,000 after purchasing an additional 33 shares in the last quarter. Institutional investors own 85.47% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Mizuho reduced their price target on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Rosenblatt Securities dropped their target price on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Bank of America lowered their price target on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. The Goldman Sachs Group initiated coverage on shares of Synopsys in a research report on Thursday. They issued a "buy" rating and a $620.00 target price on the stock. Finally, Piper Sandler reiterated an "overweight" rating and set a $615.00 price target (down from $653.00) on shares of Synopsys in a research note on Thursday, May 29th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Synopsys currently has a consensus rating of "Moderate Buy" and a consensus price target of $612.67.

Synopsys Stock Down 1.2%

SNPS stock traded down $6.91 during mid-day trading on Friday, hitting $559.28. The stock had a trading volume of 1,358,473 shares, compared to its average volume of 1,193,656. 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, Inc. has a 1-year low of $365.74 and a 1-year high of $621.24. The company has a fifty day moving average of $499.27 and a 200 day moving average of $479.93. The stock has a market capitalization of $86.78 billion, a price-to-earnings ratio of 40.38, a PEG ratio of 3.69 and a beta of 1.12.

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

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer directly owned 71,589 shares in the company, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Shelagh Glaser sold 7,310 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 15,291 shares of the company's stock, 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. Over the last three months, insiders sold 27,686 shares of company stock valued at $13,001,048. 0.62% of the stock is currently owned by company insiders.

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.