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

Nisa Investment Advisors LLC decreased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 7.6% during the first quarter, according to the company in its most recent disclosure 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.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SNPS. Mizuho dropped their price objective on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. KeyCorp set a $540.00 price target on Synopsys in a report on Tuesday, June 3rd. Piper Sandler reissued an "overweight" rating and issued a $615.00 price target (down from $653.00) on shares of Synopsys in a research report on Thursday, May 29th. Stifel Nicolaus set a $550.00 price objective on Synopsys in a research report on Monday, April 28th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $650.00 target price on shares of Synopsys in a report on Thursday, May 29th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, Synopsys currently has a consensus rating of "Moderate Buy" and a consensus target price of $607.14.

Insider Buying and Selling at Synopsys

In related news, CFO Shelagh Glaser sold 7,310 shares of the firm's 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 sale, the chief financial officer owned 15,291 shares in the company, valued at approximately $7,427,144.52. This trade represents a 32.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer owned 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,686 shares of company stock valued at $13,001,048. 0.62% of the stock is owned by company insiders.

Synopsys Price Performance

NASDAQ SNPS opened at $550.95 on Thursday. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80. The company has a market cap of $85.49 billion, a price-to-earnings ratio of 39.78, a PEG ratio of 3.64 and a beta of 1.12. 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 stock's fifty day moving average price is $495.39 and its 200 day moving average price is $479.26.

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 company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.60 billion. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. Synopsys's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the firm posted $3.00 EPS. As a group, equities research analysts forecast that Synopsys, Inc. will post 10.64 earnings per share for the current 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.

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