SBI Securities Co. Ltd. Lowers Holdings in Synopsys, Inc. (NASDAQ:SNPS)

SBI Securities Co. Ltd. lowered its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 16.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,401 shares of the semiconductor company's stock after selling 468 shares during the quarter. SBI Securities Co. Ltd.'s holdings in Synopsys were worth $1,030,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ameriflex Group Inc. purchased a new position in shares of Synopsys in the 4th quarter worth about $29,000. Cornerstone Planning Group LLC raised its position 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 purchasing an additional 44 shares during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Synopsys in the 4th quarter worth about $34,000. Cloud Capital Management LLC purchased a new position in shares of Synopsys in the 1st quarter worth about $36,000. Finally, Hazlett Burt & Watson Inc. raised its position 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 worth $44,000 after purchasing an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SNPS shares. KeyCorp lifted their price target on Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Mizuho reduced their price objective on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Piper Sandler reiterated an "overweight" rating and issued a $615.00 price objective (down from $653.00) on shares of Synopsys in a report on Thursday, May 29th. Bank of America lifted their price objective on Synopsys from $575.00 to $625.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Stifel Nicolaus set a $550.00 price objective on Synopsys in a report on Monday, April 28th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Synopsys currently has a consensus rating of "Moderate Buy" and a consensus price target of $617.67.

Synopsys Stock Performance

Shares of Synopsys stock traded down $6.76 during trading hours on Friday, reaching $582.26. 1,230,944 shares of the stock traded hands, compared to its average volume of 1,399,917. The company has a 50 day moving average price of $506.50 and a 200 day moving average price of $482.28. The firm has a market capitalization of $90.34 billion, a price-to-earnings ratio of 42.03, a P/E/G ratio of 3.78 and a beta of 1.12. Synopsys, Inc. has a one year low of $365.74 and a one year high of $600.90. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.40 by $0.27. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The business's quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $3.00 EPS. On average, equities research analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Insider Activity at Synopsys

In related news, CRO Richard S. Mahoney sold 9,010 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the completion of the transaction, the executive directly owned 1,485 shares in the company, valued at approximately $699,746.85. The trade was a 85.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Shelagh Glaser sold 7,310 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $485.72, for a total value of $3,550,613.20. Following the transaction, the chief financial officer owned 15,291 shares of the company's stock, valued at approximately $7,427,144.52. This trade represents a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,686 shares of company stock worth $13,001,048. 0.62% of the stock is owned by company insiders.

About Synopsys

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.