Keybank National Association OH Boosts Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Keybank National Association OH boosted its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 44.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,726 shares of the semiconductor company's stock after buying an additional 1,151 shares during the period. Keybank National Association OH's holdings in Synopsys were worth $1,598,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Advisors Capital Management LLC lifted its holdings in Synopsys by 2.3% in the fourth quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company's stock worth $408,000 after buying an additional 19 shares during the period. Hazlett Burt & Watson Inc. increased its stake in shares of 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. Peninsula Wealth LLC increased its stake in shares of Synopsys by 0.5% during the fourth quarter. Peninsula Wealth LLC now owns 4,224 shares of the semiconductor company's stock valued at $2,050,000 after purchasing an additional 20 shares in the last quarter. Williams Jones Wealth Management LLC. increased its stake in shares of Synopsys by 0.5% during the fourth quarter. Williams Jones Wealth Management LLC. now owns 4,650 shares of the semiconductor company's stock valued at $2,257,000 after purchasing an additional 22 shares in the last quarter. Finally, Ashton Thomas Securities LLC increased its stake in shares of Synopsys by 1.2% during the fourth quarter. Ashton Thomas Securities LLC now owns 1,866 shares of the semiconductor company's stock valued at $906,000 after purchasing an additional 23 shares in the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. KeyCorp set a $540.00 target price on shares of Synopsys in a research note on Tuesday, June 3rd. Needham & Company LLC reaffirmed a "buy" rating and set a $650.00 target price on shares of Synopsys in a research note on Thursday, May 29th. Rosenblatt Securities decreased their target price on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a research note on Monday, April 28th. Finally, Piper Sandler reissued an "overweight" rating and set a $615.00 price target (down previously from $653.00) on shares of Synopsys in a research report on Thursday, May 29th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Synopsys currently has an average rating of "Moderate Buy" and a consensus target price of $607.14.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the transaction, the chief executive officer owned 71,589 shares in the company, valued at $32,782,750.77. This trade represents a 13.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Shelagh Glaser sold 7,310 shares of Synopsys stock in a transaction 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 transaction, the chief financial officer owned 15,291 shares in the company, valued at $7,427,144.52. This represents a 32.34% decrease in their position. 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 90 days. 0.62% of the stock is currently owned by insiders.

Synopsys Trading Up 4.5%

Shares of SNPS stock opened at $546.76 on Friday. 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 firm's 50 day moving average is $489.89 and its 200 day moving average is $478.05. The stock has a market capitalization of $84.83 billion, a P/E ratio of 39.48, a P/E/G ratio of 3.62 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.27. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The company had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.60 billion. During the same quarter last year, the company posted $3.00 earnings per share. The firm's quarterly revenue was up 10.3% on a year-over-year basis. Research analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current year.

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.

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