Greenleaf Trust Grows Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

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

A number of other institutional investors and hedge funds also recently made changes to their positions in SNPS. Dynamic Advisor Solutions LLC purchased a new position in Synopsys during the first quarter valued at approximately $1,000,000. Bancreek Capital Management LP purchased a new position in shares of Synopsys in the fourth quarter worth $3,827,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Synopsys by 3.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 20,172 shares of the semiconductor company's stock worth $8,651,000 after buying an additional 655 shares in the last quarter. Integrated Advisors Network LLC lifted its holdings in shares of Synopsys by 8.0% in the first quarter. Integrated Advisors Network LLC now owns 529 shares of the semiconductor company's stock worth $227,000 after buying an additional 39 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Synopsys by 8.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,748 shares of the semiconductor company's stock worth $2,894,000 after buying an additional 550 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $457.93, for a total value of $5,204,832.38. Following the completion of the sale, the chief executive officer directly owned 71,589 shares of the company's stock, valued at $32,782,750.77. This represents a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Richard S. Mahoney sold 9,010 shares of the company's stock in a transaction dated 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 directly 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 disclosure for this sale can be found here. Insiders sold a total of 27,686 shares of company stock valued at $13,001,048 over the last three months. 0.62% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on SNPS shares. Piper Sandler reissued an "overweight" rating and issued a $615.00 target price (down previously from $653.00) on shares of Synopsys in a report on Thursday, May 29th. KeyCorp boosted their price target on shares of Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a research report on Thursday. 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 price target on the stock. Bank of America reduced 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. Finally, Rosenblatt Securities reduced their price target on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. One research 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 stock currently has an average rating of "Moderate Buy" and a consensus price target of $612.67.

Synopsys Trading Up 2.8%

Shares of SNPS traded up $15.24 during trading hours on Thursday, reaching $566.19. 1,775,121 shares of the company traded hands, compared to its average volume of 1,185,706. The firm has a market cap of $87.85 billion, a price-to-earnings ratio of 40.88, a PEG ratio of 3.64 and a beta of 1.12. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month 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 fifty day moving average price is $495.39 and its 200 day moving average price is $479.26.

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

About Synopsys

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.