Nisa Investment Advisors LLC Sells 3,504 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Nisa Investment Advisors LLC trimmed its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 7.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 42,789 shares of the semiconductor company's stock after selling 3,504 shares during the quarter. Nisa Investment Advisors LLC's holdings in Synopsys were worth $18,350,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Cornerstone Planning Group LLC lifted its stake in Synopsys by 275.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 44 shares during the period. Ameriflex Group Inc. bought a new position in Synopsys during the 4th quarter valued at about $29,000. Pilgrim Partners Asia Pte Ltd bought a new position in Synopsys during the 4th quarter valued at about $34,000. Cloud Capital Management LLC bought a new position in Synopsys during the 1st quarter valued at about $36,000. Finally, Hazlett Burt & Watson Inc. lifted its stake in Synopsys by 28.6% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock valued at $44,000 after acquiring an additional 20 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Synopsys news, CFO Shelagh Glaser sold 7,310 shares of the stock in a transaction 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 transaction, the chief financial officer owned 15,291 shares in the company, valued at $7,427,144.52. This trade 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 stock in a transaction 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 transaction, the executive owned 1,485 shares of the company's stock, valued at $699,746.85. This trade represents a 85.85% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,686 shares of company stock worth $13,001,048. 0.62% of the stock is owned by insiders.

Synopsys Price Performance

Shares of NASDAQ SNPS traded down $2.05 during midday trading on Friday, reaching $564.15. The stock had a trading volume of 830,446 shares, compared to its average volume of 1,186,348. The stock has a 50-day moving average of $497.53 and a 200-day moving average of $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. The company has a market capitalization of $87.53 billion, a price-to-earnings ratio of 40.81, a price-to-earnings-growth ratio of 3.64 and a beta of 1.12. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $624.80.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, topping analysts' consensus estimates 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 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. Synopsys's revenue for the quarter was up 10.3% on a year-over-year basis. As a group, research analysts anticipate that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SNPS shares. KeyCorp upped their target price on shares of Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a research note on Thursday. Needham & Company LLC reissued a "buy" rating and set a $650.00 price objective on shares of Synopsys in a research report on Thursday, May 29th. Stifel Nicolaus set a $550.00 target price on Synopsys in a report on Monday, April 28th. Rosenblatt Securities lowered their target price on Synopsys from $660.00 to $625.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Finally, Piper Sandler restated an "overweight" rating and issued a $615.00 price target (down previously from $653.00) on shares of Synopsys in a research report on Thursday, May 29th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $612.67.

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.