Nisa Investment Advisors LLC Trims Stake in Synopsys, Inc. (NASDAQ:SNPS)

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

A number of other large investors have also recently made changes to their positions in the business. Dynamic Advisor Solutions LLC purchased a new stake in Synopsys during the first quarter valued at approximately $1,000,000. Bancreek Capital Management LP bought a new position in shares of Synopsys during the 4th quarter valued at approximately $3,827,000. Wealth Enhancement Advisory Services LLC raised its holdings in Synopsys by 3.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 20,172 shares of the semiconductor company's stock valued at $8,651,000 after buying an additional 655 shares during the period. Integrated Advisors Network LLC lifted its position in Synopsys by 8.0% in the first quarter. Integrated Advisors Network LLC now owns 529 shares of the semiconductor company's stock worth $227,000 after buying an additional 39 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in Synopsys by 8.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,748 shares of the semiconductor company's stock worth $2,894,000 after buying an additional 550 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Synopsys Stock Performance

SNPS stock traded down $6.91 during trading on Friday, reaching $559.28. The company had a trading volume of 1,358,473 shares, compared to its average volume of 1,190,902. The company has a market cap of $86.78 billion, a price-to-earnings ratio of 40.38, a price-to-earnings-growth ratio of 3.74 and a beta of 1.12. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $621.24. 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 firm has a 50-day simple moving average of $499.27 and a 200-day simple moving average of $480.18.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 34.77% and a return on equity of 17.09%. The business's quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the company posted $3.00 earnings per share. As a group, sell-side analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Insider Buying and Selling at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $457.93, for a total value of $5,204,832.38. Following the transaction, the chief executive officer owned 71,589 shares in the company, valued at approximately $32,782,750.77. This represents a 13.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Shelagh Glaser sold 7,310 shares of Synopsys 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 sale, the chief financial officer owned 15,291 shares of the company's stock, valued at approximately $7,427,144.52. The trade was a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,686 shares of company stock worth $13,001,048. 0.62% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SNPS shares. Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a research note on Monday, April 28th. Bank of America reduced their price objective 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. Rosenblatt Securities dropped their target price on Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. Piper Sandler reiterated an "overweight" rating and issued a $615.00 price target (down from $653.00) on shares of Synopsys in a report on Thursday, May 29th. Finally, The Goldman Sachs Group started coverage on Synopsys in a research note on Thursday. They set a "buy" rating and a $620.00 price target for the company. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $612.67.

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.