DSG Capital Advisors LLC Decreases Stake in Synopsys, Inc. (NASDAQ:SNPS)

DSG Capital Advisors LLC decreased its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 77.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 767 shares of the semiconductor company's stock after selling 2,680 shares during the period. DSG Capital Advisors LLC's holdings in Synopsys were worth $329,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Synopsys during the 4th quarter worth $583,608,000. GAMMA Investing LLC raised its position in Synopsys by 54,286.0% in the 1st quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company's stock valued at $513,116,000 after purchasing an additional 1,194,292 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Synopsys by 21.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock valued at $2,864,933,000 after buying an additional 1,045,326 shares during the period. Capital Research Global Investors acquired a new position in shares of Synopsys during the fourth quarter worth about $239,864,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Synopsys during the fourth quarter worth approximately $199,065,000. Institutional investors and hedge funds own 85.47% of the company's stock.

Insider Activity at Synopsys

In other news, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the transaction, the chief executive officer directly owned 71,589 shares in the company, valued at $32,782,750.77. The trade was a 13.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Shelagh Glaser sold 7,310 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,686 shares of company stock worth $13,001,048 in the last three months. Insiders own 0.62% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SNPS shares. Rosenblatt Securities lowered their price objective on Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. KeyCorp set a $540.00 target price on Synopsys in a research note on Tuesday, June 3rd. Mizuho dropped their price target 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. Piper Sandler reissued an "overweight" rating and set a $615.00 price objective (down previously from $653.00) on shares of Synopsys in a report on Thursday, May 29th. Finally, Bank of America reduced their price objective on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $607.14.

Synopsys Stock Performance

NASDAQ:SNPS traded up $9.10 during trading hours on Tuesday, reaching $521.78. 1,512,748 shares of the company's stock were exchanged, compared to its average volume of 1,166,933. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $624.80. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $80.96 billion, a price-to-earnings ratio of 37.67, a P/E/G ratio of 3.32 and a beta of 1.11. The company has a 50-day moving average of $481.54 and a 200 day moving average of $477.13.

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

Synopsys 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.