Peregrine Capital Management LLC Sells 1,609 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Peregrine Capital Management LLC trimmed its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 3.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,019 shares of the semiconductor company's stock after selling 1,609 shares during the quarter. Synopsys accounts for approximately 0.6% of Peregrine Capital Management LLC's portfolio, making the stock its 29th largest holding. Peregrine Capital Management LLC's holdings in Synopsys were worth $18,878,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SNPS. Ameriflex Group Inc. bought a new stake in Synopsys in the 4th quarter worth about $29,000. Whipplewood Advisors LLC bought a new position in shares of Synopsys during the 4th quarter worth approximately $33,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Synopsys in the 4th quarter worth approximately $34,000. Hazlett Burt & Watson Inc. grew 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 acquiring an additional 20 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Synopsys by 50.8% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 98 shares of the semiconductor company's stock valued at $48,000 after acquiring an additional 33 shares during the last quarter. Institutional investors own 85.47% of the company's stock.

Insider Transactions at Synopsys

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 sale, the chief financial officer owned 15,291 shares of the company's stock, valued at $7,427,144.52. This represents a 32.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Richard S. Mahoney sold 9,010 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total value of $4,245,602.10. Following the transaction, the executive directly owned 1,485 shares in the company, valued at $699,746.85. This trade represents a 85.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,686 shares of company stock worth $13,001,048. Company insiders own 0.62% of the company's stock.

Analysts Set New Price Targets

SNPS has been the topic of several research analyst reports. KeyCorp set a $540.00 price objective on Synopsys in a research report on Tuesday, June 3rd. Rosenblatt Securities cut their price target 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 restated a "buy" rating and set a $650.00 price objective on shares of Synopsys in a report on Thursday, May 29th. Piper Sandler reiterated an "overweight" rating and issued a $615.00 target price (down from $653.00) on shares of Synopsys in a research note on Thursday, May 29th. Finally, Mizuho reduced 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. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Synopsys currently has a consensus rating of "Moderate Buy" and a consensus target price of $607.14.

Synopsys Stock Performance

Shares of NASDAQ SNPS traded up $9.10 during mid-day trading on Tuesday, hitting $521.78. The company had a trading volume of 1,512,748 shares, compared to its average volume of 1,169,148. The stock's 50-day moving average price is $481.54 and its 200-day moving average price is $477.13. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $80.96 billion, a price-to-earnings ratio of 37.67, a P/E/G ratio of 3.39 and a beta of 1.12. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, topping analysts' consensus estimates of $3.40 by $0.27. The firm had revenue of $1.60 billion for 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%. The business's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.00 EPS. On average, sell-side 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.