M&T Bank Corp Sells 457 Shares of Synopsys, Inc. (NASDAQ:SNPS)

M&T Bank Corp lowered its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 4.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Liberty One Investment Management LLC lifted its stake in shares of Synopsys by 21.2% in the first quarter. Liberty One Investment Management LLC now owns 337 shares of the semiconductor company's stock valued at $145,000 after buying an additional 59 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of Synopsys by 6.0% during the first quarter. China Universal Asset Management Co. Ltd. now owns 12,769 shares of the semiconductor company's stock valued at $5,476,000 after buying an additional 719 shares during the last quarter. Account Management LLC bought a new stake in Synopsys during the first quarter worth $2,056,000. Financial Counselors Inc. raised its position in Synopsys by 5.3% in the 1st quarter. Financial Counselors Inc. now owns 34,225 shares of the semiconductor company's stock valued at $14,677,000 after buying an additional 1,736 shares during the last quarter. Finally, YANKCOM Partnership raised its position in Synopsys by 9.7% in the 1st quarter. YANKCOM Partnership now owns 520 shares of the semiconductor company's stock valued at $223,000 after buying an additional 46 shares during the last quarter. Institutional investors own 85.47% of the company's stock.

Insider Activity

In related news, CFO Shelagh Glaser sold 7,310 shares of the company's 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Richard S. Mahoney sold 9,010 shares of the firm's stock in a transaction 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 completion of the sale, the executive directly owned 1,485 shares of the company's stock, valued at $699,746.85. The trade was a 85.85% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,686 shares of company stock valued at $13,001,048. 0.62% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SNPS shares. Needham & Company LLC reissued a "buy" rating and issued a $650.00 price objective on shares of Synopsys in a research report on Thursday, May 29th. Mizuho cut 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. Piper Sandler restated an "overweight" rating and set a $615.00 price objective (down previously from $653.00) on shares of Synopsys in a report on Thursday, May 29th. The Goldman Sachs Group initiated coverage on shares of Synopsys in a report on Thursday. They issued a "buy" rating and a $620.00 price target on the stock. Finally, Bank of America lowered their target price on Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $612.67.

Synopsys Trading Up 2.8%

Shares of SNPS stock opened at $566.19 on Friday. The business has a 50-day moving average price of $497.53 and a two-hundred day moving average price of $479.77. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $624.80. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01. The firm has a market cap of $87.85 billion, a P/E ratio of 40.88, a price-to-earnings-growth ratio of 3.64 and a beta of 1.12.

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