Ieq Capital LLC Sells 5,859 Shares of Synopsys, Inc. $SNPS

Key Points

• Ieq Capital LLC has reduced its stake in Synopsys, Inc. (NASDAQ:SNPS) by 30.9%, selling 5,859 shares, and now holds 13,074 shares valued at approximately $5.6 million.
• GAMMA Investing LLC significantly increased its holdings in Synopsys by 54,286%, now owning 1,196,492 shares, while several other investors also raised their stakes in the company.
• Synopsys' stock price is currently at $612.17 with a market capitalization of $94.98 billion, experiencing a steady performance since reporting earnings that exceeded analyst expectations.

Ieq Capital LLC trimmed its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 30.9% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 13,074 shares of the semiconductor company's stock after selling 5,859 shares during the quarter. Ieq Capital LLC's holdings in Synopsys were worth $5,607,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SNPS. Vanguard Group Inc. boosted its position in Synopsys by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,829,770 shares of the semiconductor company's stock worth $6,359,747,000 after purchasing an additional 346,994 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in Synopsys by 38.3% in the first quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company's stock worth $1,043,518,000 after purchasing an additional 673,837 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Synopsys by 6.6% in the first quarter. Ameriprise Financial Inc. now owns 2,013,380 shares of the semiconductor company's stock worth $863,500,000 after purchasing an additional 125,199 shares during the last quarter. Nuveen Asset Management LLC boosted its position in Synopsys by 12.1% in the fourth quarter. Nuveen Asset Management LLC now owns 1,691,501 shares of the semiconductor company's stock worth $820,987,000 after purchasing an additional 182,115 shares during the last quarter. Finally, Sustainable Growth Advisers LP boosted its position in Synopsys by 2.4% in the first quarter. Sustainable Growth Advisers LP now owns 1,575,732 shares of the semiconductor company's stock worth $675,753,000 after purchasing an additional 37,149 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on SNPS. Bank of America raised their target price on Synopsys from $575.00 to $625.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. 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. KeyCorp lifted their price objective on Synopsys from $610.00 to $660.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, Rosenblatt Securities lifted their price objective on Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $638.21.

Insider Activity at Synopsys

In related news, CFO Shelagh Glaser sold 7,310 shares of Synopsys stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the sale, the chief financial officer owned 15,291 shares of the company's stock, valued at approximately $7,427,144.52. This trade represents a 32.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Richard S. Mahoney sold 9,010 shares of Synopsys 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 sale, the executive directly owned 1,485 shares in the company, valued at $699,746.85. This trade represents a 85.85% 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 Price Performance

SNPS traded down $1.42 on Wednesday, hitting $590.59. 326,916 shares of the company's stock traded hands, compared to its average volume of 1,400,911. The company's 50 day simple moving average is $587.98 and its 200-day simple moving average is $504.43. The firm has a market cap of $91.64 billion, a price-to-earnings ratio of 42.69, a P/E/G ratio of 3.97 and a beta of 1.14. Synopsys, Inc. has a one year low of $365.74 and a one year high of $651.73. 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 Company 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.