Nisa Investment Advisors LLC Has $18.35 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

Nisa Investment Advisors LLC lowered its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 7.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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 have also recently bought and sold shares of the company. Cornerstone Planning Group LLC lifted its stake in Synopsys by 275.0% in the first quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock valued at $25,000 after buying an additional 44 shares in the last quarter. Ameriflex Group Inc. acquired a new stake in shares of Synopsys in the fourth quarter valued at approximately $29,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Synopsys in the fourth quarter valued at approximately $34,000. Cloud Capital Management LLC acquired a new stake in shares of Synopsys in the first quarter valued at approximately $36,000. Finally, Hazlett Burt & Watson Inc. raised its holdings in shares of Synopsys by 28.6% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock valued at $44,000 after purchasing an additional 20 shares during the last quarter. Institutional investors own 85.47% of the company's stock.

Synopsys Price Performance

SNPS stock traded up $15.24 during midday trading on Thursday, reaching $566.19. The company had a trading volume of 1,775,121 shares, compared to its average volume of 1,187,683. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $624.80. The stock has a 50 day moving average price of $495.39 and a 200-day moving average price of $479.26. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85. The company has a market capitalization of $87.85 billion, a price-to-earnings 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 issued its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, beating 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 company had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.60 billion. During the same period in the previous year, the company earned $3.00 EPS. The business's revenue for the quarter was up 10.3% compared to the same quarter last year. Equities research analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of recent analyst reports. Piper Sandler restated an "overweight" rating and set a $615.00 target price (down from $653.00) on shares of Synopsys in a report on Thursday, May 29th. Rosenblatt Securities decreased their price objective on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Needham & Company LLC reiterated a "buy" rating and issued a $650.00 price objective on shares of Synopsys in a report on Thursday, May 29th. Stifel Nicolaus set a $550.00 target price on Synopsys in a research report on Monday, April 28th. Finally, KeyCorp lifted their price target on Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a report on Thursday. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $612.67.

Insiders Place Their Bets

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the completion of the sale, the chief executive officer directly owned 71,589 shares in the company, valued at $32,782,750.77. This represents a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Shelagh Glaser sold 7,310 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $485.72, for a total value of $3,550,613.20. Following the transaction, the chief financial officer directly 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 position. The disclosure for this sale can be found here. Insiders sold 27,686 shares of company stock worth $13,001,048 over the last three months. Insiders own 0.62% of the company's stock.

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.