Kintegral Advisory LLC Reduces Stake in Synopsys, Inc. (NASDAQ:SNPS)

Kintegral Advisory LLC lessened its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 32.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,383 shares of the semiconductor company's stock after selling 1,660 shares during the period. Kintegral Advisory LLC's holdings in Synopsys were worth $1,451,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Synopsys by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company's stock worth $7,029,360,000 after acquiring an additional 120,575 shares during the period. Capital World Investors boosted its stake in shares of Synopsys by 1.6% in the 4th quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company's stock valued at $3,533,526,000 after purchasing an additional 114,893 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position 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 valued at $2,864,933,000 after purchasing an additional 1,045,326 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Synopsys by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company's stock valued at $1,625,230,000 after acquiring an additional 75,298 shares during the period. Finally, Ameriprise Financial Inc. raised its position in Synopsys by 26.2% during the 4th quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock valued at $916,441,000 after purchasing an additional 391,681 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SNPS has been the topic of a number of research analyst reports. Piper Sandler reiterated an "overweight" rating and set a $615.00 target price (down previously from $653.00) on shares of Synopsys in a report on Thursday, May 29th. Bank of America cut their target price on Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Rosenblatt Securities lowered their price target on Synopsys from $660.00 to $625.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Mizuho reduced their target price on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Finally, KeyCorp set a $540.00 target price on shares of Synopsys in a research note on Tuesday, June 3rd. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $607.14.

Synopsys Price Performance

SNPS traded up $23.65 during trading hours on Friday, hitting $546.76. The company's stock had a trading volume of 2,020,024 shares, compared to its average volume of 1,177,053. The business's 50-day moving average price is $489.89 and its 200-day moving average price is $478.16. 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 12 month low of $365.74 and a 12 month high of $624.80. The stock has a market cap of $84.83 billion, a price-to-earnings ratio of 39.48, a P/E/G ratio of 3.62 and a beta of 1.12.

Synopsys (NASDAQ:SNPS - Get Free Report) last released 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. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The firm had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.60 billion. During the same period in the previous year, the company earned $3.00 EPS. The firm's revenue for the quarter was up 10.3% compared to the same quarter last year. Sell-side analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

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.