Exchange Traded Concepts LLC Sells 4,971 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Exchange Traded Concepts LLC cut its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 74.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,664 shares of the semiconductor company's stock after selling 4,971 shares during the period. Exchange Traded Concepts LLC's holdings in Synopsys were worth $714,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SNPS. Norges Bank acquired a new stake in shares of Synopsys during the fourth quarter worth $583,608,000. GAMMA Investing LLC raised its position in shares of Synopsys by 54,286.0% during the first quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company's stock worth $513,116,000 after purchasing an additional 1,194,292 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Synopsys by 21.5% during 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 period. Capital Research Global Investors acquired a new stake in shares of Synopsys during the fourth quarter worth $239,864,000. Finally, Raymond James Financial Inc. acquired a new position in Synopsys during the fourth quarter valued at $199,065,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Stock Down 0.7%

SNPS stock traded down $3.09 during mid-day trading on Friday, hitting $470.53. The stock had a trading volume of 1,510,850 shares, compared to its average volume of 1,156,924. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $624.80. The company has a fifty day moving average of $472.42 and a 200 day moving average of $478.19. The stock has a market capitalization of $73.01 billion, a price-to-earnings ratio of 33.97, a PEG ratio of 3.11 and a beta of 1.11.

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

Analyst Upgrades and Downgrades

SNPS has been the topic of several recent analyst reports. Morgan Stanley dropped their price target on Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research report on Monday, February 24th. Mizuho dropped their price target on Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Stifel Nicolaus set a $550.00 price target on Synopsys in a research report on Monday, April 28th. Bank of America dropped their price target on Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Finally, Rosenblatt Securities dropped their price target on Synopsys from $660.00 to $625.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $607.14.

Insider Activity

In other news, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the transaction, the chief executive officer now owns 71,589 shares of the company's stock, valued at approximately $32,782,750.77. This represents a 13.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Richard S. Mahoney sold 9,010 shares of the 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 now directly owns 1,485 shares in the company, valued at approximately $699,746.85. This represents a 85.85% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,686 shares of company stock valued at $13,001,048. Insiders own 0.62% of the company's stock.

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.