NBC Securities Inc. Has $1.56 Million Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

NBC Securities Inc. boosted its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 120,800.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,627 shares of the semiconductor company's stock after buying an additional 3,624 shares during the quarter. NBC Securities Inc.'s holdings in Synopsys were worth $1,555,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameriflex Group Inc. acquired a new stake in Synopsys during the fourth quarter valued at $29,000. Whipplewood Advisors LLC bought a new stake in shares of Synopsys in the 4th quarter valued at approximately $33,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Synopsys in the fourth quarter worth approximately $34,000. Sierra Ocean LLC acquired a new position in Synopsys during the fourth quarter worth $39,000. Finally, Hazlett Burt & Watson Inc. boosted its stake in shares of Synopsys by 28.6% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after acquiring an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 71,589 shares of the company's stock, valued at approximately $32,782,750.77. This trade represents a 13.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Geus Aart De sold 15,705 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total value of $6,979,616.10. Following the completion of the transaction, the insider now directly owns 116,671 shares of the company's stock, valued at approximately $51,850,925.82. The trade was a 11.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SNPS shares. Piper Sandler reissued an "overweight" rating and issued a $615.00 price objective (down from $653.00) on shares of Synopsys in a research note on Thursday, May 29th. Morgan Stanley dropped their price target on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research report on Monday, February 24th. Rosenblatt Securities reduced their price objective 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. Bank of America lowered their target price on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Finally, Wells Fargo & Company dropped their target price on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $609.64.

Synopsys Stock Up 1.5%

Synopsys stock traded up $6.93 during mid-day trading on Wednesday, reaching $473.19. The company had a trading volume of 972,364 shares, compared to its average volume of 1,141,995. The firm has a market cap of $73.42 billion, a price-to-earnings ratio of 32.59, a PEG ratio of 3.23 and a beta of 1.16. The company has a 50 day moving average of $454.18 and a 200-day moving average of $484.63. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $624.80.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, beating analysts' consensus estimates of $3.40 by $0.27. Synopsys had a net margin of 36.12% and a return on equity of 20.48%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the prior year, the business earned $3.00 earnings per share. The firm's revenue for the quarter was up 10.3% on a year-over-year basis. On average, analysts predict that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Synopsys Company 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.