Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG reduced its stake in Synopsys, Inc. by 12.9%, owning 43,772 shares after selling 6,501 shares, valued at approximately $18,772,000.
• Insiders, including CRO Richard S. Mahoney and CEO Sassine Ghazi, recently sold a combined total of 27,686 shares worth over $13 million, indicating a significant decrease in their ownership.
• Synopsys reported $3.67 earnings per share in its last earnings call, exceeding analysts' expectations of $3.40, with a year-over-year revenue increase of 10.3%.

J. Safra Sarasin Holding AG lowered its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 12.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,772 shares of the semiconductor company's stock after selling 6,501 shares during the period. J. Safra Sarasin Holding AG's holdings in Synopsys were worth $18,772,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC boosted its stake in Synopsys by 5.7% in the 4th quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company's stock worth $447,000 after buying an additional 50 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Synopsys in the 4th quarter worth about $1,678,000. Nicolet Advisory Services LLC boosted its stake in Synopsys by 35.1% in the 4th quarter. Nicolet Advisory Services LLC now owns 651 shares of the semiconductor company's stock worth $321,000 after buying an additional 169 shares during the last quarter. Westpac Banking Corp boosted its stake in Synopsys by 178.2% in the 4th quarter. Westpac Banking Corp now owns 6,359 shares of the semiconductor company's stock worth $3,086,000 after buying an additional 4,073 shares during the last quarter. Finally, World Investment Advisors boosted its stake in Synopsys by 757.5% in the 4th quarter. World Investment Advisors now owns 4,279 shares of the semiconductor company's stock worth $2,077,000 after buying an additional 3,780 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SNPS. Stifel Nicolaus set a $550.00 price objective on Synopsys in a research note on Monday, April 28th. Mizuho reduced their price objective on Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. The Goldman Sachs Group began coverage on Synopsys in a research note on Thursday, July 10th. They issued a "buy" rating and a $620.00 price objective on the stock. Piper Sandler lifted their price objective on Synopsys from $615.00 to $660.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Finally, Bank of America lifted their price objective on Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Synopsys presently has an average rating of "Moderate Buy" and an average target price of $622.33.

Synopsys Stock Up 2.8%

Shares of NASDAQ:SNPS traded up $17.37 during mid-day trading on Monday, hitting $636.02. 1,121,251 shares of the company traded hands, compared to its average volume of 2,510,272. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $651.73. The firm's 50 day simple moving average is $529.64 and its 200 day simple moving average is $491.19. The firm has a market cap of $98.68 billion, a P/E ratio of 45.92, a PEG ratio of 4.09 and a beta of 1.15.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $1.60 billion. During the same period in the previous year, the business earned $3.00 EPS. Synopsys's revenue for the quarter was up 10.3% compared to the same quarter last year. On average, equities analysts anticipate that Synopsys, Inc. will post 10.64 EPS for the current year.

Insiders Place Their Bets

In other Synopsys 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 directly owned 15,291 shares in the company, valued at $7,427,144.52. The trade was a 32.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Richard S. Mahoney sold 9,010 shares of Synopsys stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total value of $4,245,602.10. Following the sale, the executive owned 1,485 shares in the company, valued at $699,746.85. This represents a 85.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,686 shares of company stock worth $13,001,048 in the last three months. 0.62% of the stock is owned by insiders.

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.