Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd reduced its stake in Synopsys, Inc. by 24.5%, selling 2,916 shares, resulting in ownership of 8,997 shares valued at approximately $3.86 million.
• Various analysts have rated Synopsys with a consensus price target of $630.67, with most recommending a "buy," indicating strong market interest in the semiconductor company's stock.
• Synopsys reported $3.67 earnings per share in its latest quarterly results, exceeding expectations, while revenue increased 10.3% year-over-year to $1.60 billion.

Gulf International Bank UK Ltd lowered its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 24.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,997 shares of the semiconductor company's stock after selling 2,916 shares during the period. Gulf International Bank UK Ltd's holdings in Synopsys were worth $3,858,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Ameriflex Group Inc. purchased a new position in shares of Synopsys during the 4th quarter worth approximately $29,000. Cornerstone Planning Group LLC lifted its stake in Synopsys by 275.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 44 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its stake in Synopsys by 441.7% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company's stock worth $28,000 after acquiring an additional 53 shares in the last quarter. Cloud Capital Management LLC acquired a new position in Synopsys during the 1st quarter worth about $36,000. Finally, Meeder Asset Management Inc. lifted its stake in Synopsys by 33.3% during the 1st quarter. Meeder Asset Management Inc. now owns 104 shares of the semiconductor company's stock worth $45,000 after acquiring an additional 26 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SNPS. Needham & Company LLC reissued a "buy" rating and set a $660.00 target price (up previously from $650.00) on shares of Synopsys in a research note on Tuesday, July 15th. Morgan Stanley reaffirmed an "overweight" rating and set a $715.00 price objective (up from $540.00) on shares of Synopsys in a research report on Monday. Rosenblatt Securities lifted their price objective on shares of Synopsys from $625.00 to $650.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Stifel Nicolaus set a $550.00 price objective on shares of Synopsys in a research report on Monday, April 28th. Finally, KeyCorp lifted their price objective on shares of Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $630.67.

Synopsys Price Performance

Shares of SNPS opened at $618.57 on Thursday. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $651.73. The company has a market capitalization of $95.98 billion, a price-to-earnings ratio of 44.66, a price-to-earnings-growth ratio of 4.14 and a beta of 1.15. The firm has a 50-day simple moving average of $553.58 and a 200-day simple moving average of $496.59. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02.

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

Insiders Place Their Bets

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

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.

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