Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Callan Family Office LLC

Key Points

• Callan Family Office LLC has reduced its stake in Synopsys, Inc. by 38.9%, now holding 1,568 shares valued at approximately $672,000.
• Synopsys reported a 10.3% increase in revenue year-over-year, posting $1.60 billion during the latest quarter.
• Several analysts have raised their price targets for Synopsys, with the average target now at $630.67, reflecting a consensus rating of "Moderate Buy".

Callan Family Office LLC reduced its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 38.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,568 shares of the semiconductor company's stock after selling 998 shares during the period. Callan Family Office LLC's holdings in Synopsys were worth $672,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Advisors Capital Management LLC grew its stake in Synopsys by 2.3% during the fourth quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company's stock worth $408,000 after buying an additional 19 shares during the period. Williams Jones Wealth Management LLC. boosted its position in Synopsys by 0.5% during the 4th quarter. Williams Jones Wealth Management LLC. now owns 4,650 shares of the semiconductor company's stock worth $2,257,000 after purchasing an additional 22 shares during the period. Hardy Reed LLC increased its holdings in Synopsys by 0.7% in the 1st quarter. Hardy Reed LLC now owns 3,290 shares of the semiconductor company's stock valued at $1,411,000 after purchasing an additional 22 shares in the last quarter. Resurgent Financial Advisors LLC increased its holdings in Synopsys by 2.7% in the 1st quarter. Resurgent Financial Advisors LLC now owns 832 shares of the semiconductor company's stock valued at $357,000 after purchasing an additional 22 shares in the last quarter. Finally, Trust Asset Management LLC raised its position in Synopsys by 1.3% in the first quarter. Trust Asset Management LLC now owns 1,766 shares of the semiconductor company's stock valued at $757,000 after purchasing an additional 22 shares during the period. Hedge funds and other institutional investors own 85.47% of the company's stock.

Synopsys Price Performance

Shares of SNPS stock opened at $618.57 on Thursday. The firm has a fifty day moving average of $553.58 and a two-hundred day moving average of $496.59. The firm has a market cap of $95.98 billion, a P/E ratio of 44.66, a P/E/G ratio of 4.14 and a beta of 1.15. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $651.73. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85.

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, topping 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 company's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the firm earned $3.00 earnings per share. As a group, research analysts anticipate that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SNPS has been the subject of a number of recent research reports. KeyCorp increased their target price on Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Rosenblatt Securities increased their price objective on shares of Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Piper Sandler lifted their price objective 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. Bank of America upped their target price on shares of Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $715.00 price target (up from $540.00) on shares of Synopsys in a report on Monday. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $630.67.

Insider Transactions at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 9,010 shares of the firm's stock in a transaction dated 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 owned 1,485 shares of the company's stock, valued at $699,746.85. This trade represents a 85.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Shelagh Glaser sold 7,310 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the chief financial officer directly owned 15,291 shares in the company, valued at approximately $7,427,144.52. This trade represents a 32.34% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,686 shares of company stock worth $13,001,048. 0.62% of the stock is currently owned by corporate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.