Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Sienna Gestion

Key Points

• Sienna Gestion reduced its stake in Synopsys, Inc. by 11.5%, bringing its total holdings to 8,640 shares valued at approximately $3.6 million.
• Wall Street analysts maintain a predominantly optimistic outlook on Synopsys, with multiple firms issuing buy ratings and raising price targets significantly, the highest being $715.00 from Morgan Stanley.
• Insider selling activity increased, with CEO Sassine Ghazi and CRO Richard S. Mahoney both selling shares, leading to a significant reduction in their respective positions.

Sienna Gestion lessened its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 11.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 8,640 shares of the semiconductor company's stock after selling 1,128 shares during the period. Sienna Gestion's holdings in Synopsys were worth $3,602,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of SNPS. Vanguard Group Inc. lifted its holdings in shares of Synopsys by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 14,829,770 shares of the semiconductor company's stock valued at $6,359,747,000 after acquiring an additional 346,994 shares during the last quarter. Capital World Investors lifted its stake in Synopsys by 1.6% in the fourth quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company's stock worth $3,533,526,000 after purchasing an additional 114,893 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Synopsys by 21.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock worth $2,864,933,000 after purchasing an additional 1,045,326 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in shares of Synopsys by 38.3% during the first quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company's stock valued at $1,043,518,000 after acquiring an additional 673,837 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Synopsys by 26.2% during the fourth quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock valued at $916,441,000 after acquiring an additional 391,681 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

Insider Buying and Selling at Synopsys

In other news, CFO Shelagh Glaser sold 7,310 shares of the stock in a transaction dated 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 directly 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Richard S. Mahoney sold 9,010 shares of the stock in a transaction dated 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,686 shares of company stock valued at $13,001,048. 0.62% of the stock is owned by insiders.

Synopsys Stock Performance

Shares of SNPS traded up $1.55 during trading hours on Friday, reaching $617.91. 881,572 shares of the company traded hands, compared to its average volume of 1,514,814. The stock has a market capitalization of $95.87 billion, a P/E ratio of 44.61, a P/E/G ratio of 4.09 and a beta of 1.15. 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, Inc. has a 12-month low of $365.74 and a 12-month high of $651.73. The business has a fifty day moving average price of $558.90 and a 200-day moving average price of $497.65.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its quarterly 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 for the quarter, compared to analyst estimates of $1.60 billion. During the same period in the prior year, the company earned $3.00 earnings per share. The firm's revenue was up 10.3% on a year-over-year basis. Equities analysts anticipate that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SNPS has been the subject of several research analyst reports. Piper Sandler lifted their price target on shares of Synopsys from $615.00 to $660.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. KeyCorp lifted their price target on shares of Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Stifel Nicolaus set a $550.00 price objective on shares of Synopsys in a report on Monday, April 28th. The Goldman Sachs Group began coverage on shares of Synopsys in a report on Thursday, July 10th. They set a "buy" rating and a $620.00 price objective on the stock. Finally, Morgan Stanley reissued an "overweight" rating and set a $715.00 price objective (up from $540.00) on shares of Synopsys in a report on Monday, August 11th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $630.67.

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.