Mutual of America Capital Management LLC Decreases Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Mutual of America Capital Management LLC decreased its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 2.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,858 shares of the semiconductor company's stock after selling 500 shares during the period. Mutual of America Capital Management LLC's holdings in Synopsys were worth $8,087,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Dynamic Advisor Solutions LLC acquired a new position in Synopsys during the first quarter worth approximately $1,000,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Synopsys by 3.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 20,172 shares of the semiconductor company's stock valued at $8,651,000 after buying an additional 655 shares during the period. Integrated Advisors Network LLC raised its stake in Synopsys by 8.0% in the first quarter. Integrated Advisors Network LLC now owns 529 shares of the semiconductor company's stock valued at $227,000 after purchasing an additional 39 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Synopsys by 8.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,748 shares of the semiconductor company's stock worth $2,894,000 after acquiring an additional 550 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Synopsys in the 4th quarter valued at $1,678,000. 85.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus set a $550.00 price objective on shares of Synopsys in a research report on Monday, April 28th. Piper Sandler upped 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. KeyCorp lifted their target price on Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Bank of America increased their price objective on shares of Synopsys from $575.00 to $625.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Finally, Rosenblatt Securities boosted their price target on shares of Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a research note on Friday, July 25th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $622.33.

Synopsys Stock Performance

NASDAQ SNPS traded down $5.55 during trading hours on Thursday, reaching $620.33. 1,428,622 shares of the company were exchanged, compared to its average volume of 2,491,507. The stock has a market capitalization of $96.25 billion, a P/E ratio of 44.79, a P/E/G ratio of 4.14 and a beta of 1.15. The company has a quick ratio of 6.85, a current ratio of 7.02 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 $651.73. The business's 50 day simple moving average is $541.30 and its 200-day simple moving average is $494.47.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its quarterly 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. The firm had revenue of $1.60 billion for 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%. The business's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.00 EPS. On average, equities research analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $457.93, for a total value of $5,204,832.38. Following the sale, the chief executive officer directly owned 71,589 shares of the company's stock, valued at $32,782,750.77. This trade represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Richard S. Mahoney sold 9,010 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,686 shares of company stock valued at $13,001,048. Company 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.