M&T Bank Corp Has $4.35 Million Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

M&T Bank Corp lessened its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 4.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,148 shares of the semiconductor company's stock after selling 457 shares during the period. M&T Bank Corp's holdings in Synopsys were worth $4,353,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameriflex Group Inc. bought a new stake in Synopsys in the 4th quarter valued at $29,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Synopsys during the fourth quarter valued at about $34,000. Cloud Capital Management LLC bought a new stake in shares of Synopsys in the first quarter valued at about $36,000. Hazlett Burt & Watson Inc. grew its position in Synopsys by 28.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after buying an additional 20 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC increased its stake in Synopsys by 50.8% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 98 shares of the semiconductor company's stock valued at $48,000 after acquiring an additional 33 shares during the period. Institutional investors and hedge funds own 85.47% of the company's stock.

Insider Buying and Selling

In other news, CRO Richard S. Mahoney sold 9,010 shares of the 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 sale, the executive directly owned 1,485 shares of the company's stock, valued at $699,746.85. This represents a 85.85% 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, CFO Shelagh Glaser sold 7,310 shares of the firm's 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 completion of the sale, the chief financial officer directly owned 15,291 shares of the company's stock, valued at approximately $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 a total of 27,686 shares of company stock worth $13,001,048 in the last 90 days. Corporate insiders own 0.62% of the company's stock.

Synopsys Price Performance

Synopsys stock traded down $6.91 during trading hours on Friday, hitting $559.28. 1,358,473 shares of the stock were exchanged, compared to its average volume of 1,190,902. The stock has a market capitalization of $86.78 billion, a P/E ratio of 40.38, a P/E/G ratio of 3.74 and a beta of 1.12. The business's 50-day moving average is $497.53 and its two-hundred day moving average is $479.77. 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 12 month low of $365.74 and a 12 month high of $621.24.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, topping 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 business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period in the prior year, the company earned $3.00 EPS. Synopsys's revenue for the quarter was up 10.3% on a year-over-year basis. Equities research analysts expect that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Needham & Company LLC reissued a "buy" rating and set a $650.00 price objective on shares of Synopsys in a report on Thursday, May 29th. KeyCorp lifted their price target on shares of Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a research note on Thursday. Mizuho lowered their price target on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. The Goldman Sachs Group began coverage on shares of Synopsys in a report on Thursday. They set a "buy" rating and a $620.00 price objective for the company. Finally, Bank of America decreased their target price on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Synopsys has a consensus rating of "Moderate Buy" and a consensus target price 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.