Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Paradiem LLC

Paradiem LLC trimmed its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 14.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,636 shares of the semiconductor company's stock after selling 1,634 shares during the period. Paradiem LLC's holdings in Synopsys were worth $4,132,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Synopsys during the first quarter valued at $1,923,000. Manning & Napier Advisors LLC acquired a new position in shares of Synopsys in the 1st quarter valued at about $59,843,000. Center for Financial Planning Inc. lifted its holdings in shares of Synopsys by 58.8% in the 1st quarter. Center for Financial Planning Inc. now owns 216 shares of the semiconductor company's stock valued at $93,000 after buying an additional 80 shares during the period. Praxis Investment Management Inc. lifted its holdings in shares of Synopsys by 0.8% in the 1st quarter. Praxis Investment Management Inc. now owns 6,650 shares of the semiconductor company's stock valued at $2,852,000 after buying an additional 50 shares during the period. Finally, World Equity Group Inc. lifted its holdings in shares of Synopsys by 49.3% in the 1st quarter. World Equity Group Inc. now owns 1,066 shares of the semiconductor company's stock valued at $457,000 after buying an additional 352 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Synopsys

In other Synopsys news, 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 completion of the sale, the executive now owns 1,485 shares in the company, valued at approximately $699,746.85. This represents a 85.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the 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 completion of the sale, the chief executive officer now owns 71,589 shares of the company's stock, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,686 shares of company stock valued at $13,001,048. 0.62% of the stock is owned by insiders.

Synopsys Stock Performance

NASDAQ:SNPS opened at $470.53 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02. The company has a fifty day moving average of $472.42 and a two-hundred day moving average of $478.19. The stock has a market capitalization of $73.01 billion, a PE ratio of 33.97, a P/E/G ratio of 3.11 and a beta of 1.11. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $624.80.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its quarterly 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. 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 the consensus estimate of $1.60 billion. During the same quarter in the prior year, the firm earned $3.00 EPS. The company's revenue for the quarter was up 10.3% on a year-over-year basis. As a group, research analysts forecast that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Mizuho decreased their price target on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Needham & Company LLC reiterated a "buy" rating and issued a $650.00 target price on shares of Synopsys in a research note on Thursday, May 29th. Bank of America decreased their target price on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Piper Sandler reiterated an "overweight" rating and issued a $615.00 target price (down from $653.00) on shares of Synopsys in a research note on Thursday, May 29th. Finally, Morgan Stanley decreased their price objective on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research report on Monday, February 24th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $607.14.

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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