Greenleaf Trust Boosts Stake in Synopsys, Inc. (NASDAQ:SNPS)

Greenleaf Trust increased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 17.1% during the 1st quarter, according to 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 quarter.

Several other institutional investors have also modified their holdings of the business. Norges Bank acquired a new position in shares of Synopsys during the 4th quarter worth approximately $583,608,000. GAMMA Investing LLC increased its holdings in shares of Synopsys by 54,286.0% during the 1st quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company's stock worth $513,116,000 after acquiring an additional 1,194,292 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Synopsys by 21.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock worth $2,864,933,000 after acquiring an additional 1,045,326 shares during the last quarter. Capital Research Global Investors acquired a new position in shares of Synopsys during the 4th quarter worth approximately $239,864,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of Synopsys by 26.2% during the 4th quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock worth $916,441,000 after acquiring an additional 391,681 shares during the last quarter. Institutional investors own 85.47% of the company's stock.

Insider Activity 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 value of $5,204,832.38. Following the completion of the sale, the chief executive officer owned 71,589 shares of the company's stock, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Richard S. Mahoney sold 9,010 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total value of $4,245,602.10. Following the transaction, the executive directly owned 1,485 shares of the company's stock, valued at $699,746.85. The trade was a 85.85% 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 Trading Down 0.1%

NASDAQ SNPS traded down $0.61 during trading hours on Friday, hitting $565.58. 784,993 shares of the company's stock were exchanged, compared to its average volume of 1,186,208. The stock has a 50-day simple moving average of $497.53 and a 200 day simple moving average of $479.77. The firm has a market cap of $87.76 billion, a price-to-earnings ratio of 40.84, a PEG ratio of 3.64 and a beta of 1.12. 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 $624.80.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share 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 company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter last year, the company earned $3.00 earnings per share. The company's revenue for the quarter was up 10.3% on a year-over-year basis. On average, equities analysts forecast that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on SNPS shares. The Goldman Sachs Group started coverage on Synopsys in a report on Thursday. They issued a "buy" rating and a $620.00 price objective on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $650.00 price objective on shares of Synopsys in a report on Thursday, May 29th. KeyCorp upped their price objective on Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a report on Thursday. Mizuho decreased their price objective on Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, Rosenblatt Securities cut their target price on Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $612.67.

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.