New Age Alpha Advisors LLC Cuts Position in Synopsys, Inc. (NASDAQ:SNPS)

Key Points

• New Age Alpha Advisors LLC reduced its holdings in Synopsys, Inc. by 17.0%, selling 3,166 shares and bringing its ownership down to 15,475 shares worth $6.6 million as of the end of the first quarter.
• Other institutional investors, such as GAMMA Investing LLC, reported significant increases in their Synopsys shares, with GAMMA boosting its holdings by 54,286% during the same period.
• CEO Sassine Ghazi and CFO Shelagh Glaser sold significant amounts of stock, leading to decreases in their respective ownerships of Synopsys shares by 13.70% and 32.34%.

New Age Alpha Advisors LLC decreased its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 17.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,475 shares of the semiconductor company's stock after selling 3,166 shares during the period. New Age Alpha Advisors LLC's holdings in Synopsys were worth $6,636,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Capital World Investors boosted its position in shares of Synopsys by 1.6% during the 4th quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company's stock worth $3,533,526,000 after purchasing an additional 114,893 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Synopsys by 21.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock worth $2,864,933,000 after buying an additional 1,045,326 shares in the last quarter. Pictet Asset Management Holding SA grew its position in Synopsys by 38.3% during the first quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company's stock worth $1,043,518,000 after buying an additional 673,837 shares during the period. Ameriprise Financial Inc. increased its holdings in Synopsys by 26.2% in the fourth quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock valued at $916,441,000 after buying an additional 391,681 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its position in shares of Synopsys by 12.1% during the 4th quarter. Nuveen Asset Management LLC now owns 1,691,501 shares of the semiconductor company's stock valued at $820,987,000 after acquiring an additional 182,115 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Trading Down 0.4%

NASDAQ:SNPS traded down $2.62 during mid-day trading on Wednesday, hitting $625.88. 1,016,171 shares of the company's stock were exchanged, compared to its average volume of 2,482,681. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $651.73. The company has a 50 day simple moving average of $534.72 and a 200-day simple moving average of $492.91. The firm has a market capitalization of $97.11 billion, a P/E ratio of 45.19, a PEG ratio of 4.16 and a beta of 1.15.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its 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. The business had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.60 billion. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The firm's revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the firm posted $3.00 earnings per share. As a group, research analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Insider Buying and Selling at Synopsys

In other Synopsys news, CFO Shelagh Glaser sold 7,310 shares of the 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,686 shares of company stock worth $13,001,048 in the last quarter. 0.62% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on SNPS shares. Needham & Company LLC reiterated a "buy" rating and set a $660.00 target price (up from $650.00) on shares of Synopsys in a research report on Tuesday, July 15th. Rosenblatt Securities raised their target price on shares of Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a report on Friday, July 25th. Mizuho cut their target price on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Bank of America increased their price target 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. Finally, KeyCorp upped their target price on Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $622.33.

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.