Raiffeisen Bank International AG Cuts Position in Synopsys, Inc. (NASDAQ:SNPS)

Key Points

• Raiffeisen Bank International AG reduced its holdings in Synopsys, Inc. by 40.2%, selling 10,563 shares and holding 15,732 shares valued at approximately $6.89 million.
• Synopsys reported quarterly earnings of $3.67 EPS, exceeding estimates, with revenue of $1.60 billion, reflecting a 10.3% increase year-over-year.
• Analysts have set optimistic price targets for Synopsys, with a consensus target of $622.33 and several firms rating it as a buy or overweight.

Raiffeisen Bank International AG reduced its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 40.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,732 shares of the semiconductor company's stock after selling 10,563 shares during the period. Raiffeisen Bank International AG's holdings in Synopsys were worth $6,889,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Advisors Capital Management LLC boosted its position in shares of Synopsys by 2.3% during the fourth quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company's stock valued at $408,000 after purchasing an additional 19 shares in the last quarter. Peninsula Wealth LLC boosted its position in shares of Synopsys by 0.5% during the fourth quarter. Peninsula Wealth LLC now owns 4,224 shares of the semiconductor company's stock valued at $2,050,000 after purchasing an additional 20 shares in the last quarter. Williams Jones Wealth Management LLC. boosted its position in shares of Synopsys by 0.5% during the fourth quarter. Williams Jones Wealth Management LLC. now owns 4,650 shares of the semiconductor company's stock valued at $2,257,000 after purchasing an additional 22 shares in the last quarter. Hardy Reed LLC boosted its position in shares of Synopsys by 0.7% during the first quarter. Hardy Reed LLC now owns 3,290 shares of the semiconductor company's stock valued at $1,411,000 after purchasing an additional 22 shares in the last quarter. Finally, Resurgent Financial Advisors LLC boosted its position in shares of Synopsys by 2.7% during the first quarter. Resurgent Financial Advisors LLC now owns 832 shares of the semiconductor company's stock valued at $357,000 after purchasing an additional 22 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SNPS has been the topic of several research reports. 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. Rosenblatt Securities lifted their price target on Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a research report on Friday, July 25th. KeyCorp boosted 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 boosted their target price on Synopsys from $575.00 to $625.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Finally, The Goldman Sachs Group started coverage on Synopsys in a report on Thursday, July 10th. They issued a "buy" rating and a $620.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Synopsys has a consensus rating of "Moderate Buy" and an average price target of $622.33.

Synopsys Stock Performance

Synopsys stock traded down $7.52 during mid-day trading on Tuesday, reaching $628.50. 1,032,082 shares of the stock traded hands, compared to its average volume of 2,496,804. The stock has a market capitalization of $97.52 billion, a PE ratio of 45.38, a price-to-earnings-growth ratio of 4.21 and a beta of 1.15. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $651.73. The business's 50-day moving average is $532.39 and its 200-day moving average is $491.96.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its earnings results 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 company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.60 billion. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The firm's quarterly 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. As a group, sell-side analysts predict that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Insider Activity at Synopsys

In related news, CRO Richard S. Mahoney sold 9,010 shares of Synopsys 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 sale, the executive owned 1,485 shares of the company's stock, valued at approximately $699,746.85. This trade represents a 85.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys 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 in the company, valued at $32,782,750.77. This trade represents a 13.70% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,686 shares of company stock valued at $13,001,048. 0.62% of the stock is owned by company insiders.

About Synopsys

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.