Keystone Investors PTE Ltd. reduced its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 34.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,037 shares of the semiconductor company's stock after selling 2,135 shares during the quarter. Synopsys accounts for 0.2% of Keystone Investors PTE Ltd.'s investment portfolio, making the stock its 24th biggest holding. Keystone Investors PTE Ltd.'s holdings in Synopsys were worth $1,731,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of Synopsys by 5.7% in the fourth quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company's stock worth $447,000 after acquiring an additional 50 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Synopsys in the fourth quarter worth $1,678,000. CenterBook Partners LP bought a new stake in Synopsys in the fourth quarter worth $2,368,000. Neuberger Berman Group LLC boosted its holdings in Synopsys by 19.7% in the fourth quarter. Neuberger Berman Group LLC now owns 498,674 shares of the semiconductor company's stock worth $242,036,000 after purchasing an additional 82,220 shares in the last quarter. Finally, Argent Trust Co boosted its holdings in Synopsys by 8.9% in the fourth quarter. Argent Trust Co now owns 833 shares of the semiconductor company's stock worth $404,000 after purchasing an additional 68 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, CFO Shelagh Glaser sold 7,310 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were 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 of the company's stock, valued at $7,427,144.52. This represents a 32.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Richard S. Mahoney sold 9,010 shares of the firm'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 transaction of $4,245,602.10. Following the completion of the transaction, the executive directly owned 1,485 shares in the company, valued at approximately $699,746.85. The trade was 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 valued at $13,001,048 over the last three months. 0.62% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of research analysts have recently commented on the stock. Bank of America upped their price objective on shares of Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. The Goldman Sachs Group assumed coverage on shares of Synopsys in a research report on Thursday, July 10th. They set a "buy" rating and a $620.00 price objective for the company. KeyCorp upped their price objective on shares of Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Needham & Company LLC reaffirmed a "buy" rating and set a $660.00 price objective (up previously from $650.00) on shares of Synopsys in a research report on Tuesday, July 15th. Finally, Piper Sandler upped their price objective on shares of Synopsys from $615.00 to $660.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Synopsys has an average rating of "Moderate Buy" and a consensus price target of $622.33.
Read Our Latest Stock Analysis on SNPS
Synopsys Price Performance
Shares of NASDAQ SNPS traded down $0.91 during mid-day trading on Friday, hitting $619.42. 700,625 shares of the stock were exchanged, compared to its average volume of 2,474,175. The company has a market cap of $96.11 billion, a P/E ratio of 44.72, a PEG ratio of 4.10 and a beta of 1.15. The stock's fifty day simple moving average is $544.48 and its two-hundred day simple moving average is $494.74. 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 twelve month low of $365.74 and a twelve month high of $651.73.
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 for the quarter, topping the consensus estimate of $3.40 by $0.27. The company 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 company's revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the business posted $3.00 earnings per share. As a group, analysts forecast that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.
Synopsys Profile
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Free Report)
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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