TIAA Trust National Association Sells 4,860 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Key Points

• TIAA Trust National Association reduced its holdings in Synopsys by 29.8%, resulting in ownership of 11,470 shares worth approximately $4.9 million.
• Equities analysts have mixed views on Synopsys, with Mizuho cutting its price target from $650 to $600, while Bank of America raised it from $575 to $625, showcasing differing sentiments on the company's future performance.
• Insider trades indicate significant selling, with CRO Richard S. Mahoney and CFO Shelagh Glaser selling thousands of shares, reflecting a substantial decrease in their ownership stakes in the company.

TIAA Trust National Association reduced its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 29.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,470 shares of the semiconductor company's stock after selling 4,860 shares during the period. TIAA Trust National Association's holdings in Synopsys were worth $4,919,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Advisors Capital Management LLC increased its position in Synopsys by 2.3% during the fourth quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company's stock worth $408,000 after acquiring an additional 19 shares during the period. Peninsula Wealth LLC increased its position in Synopsys by 0.5% during the fourth quarter. Peninsula Wealth LLC now owns 4,224 shares of the semiconductor company's stock worth $2,050,000 after acquiring an additional 20 shares during the period. Williams Jones Wealth Management LLC. increased its position in Synopsys by 0.5% during the fourth quarter. Williams Jones Wealth Management LLC. now owns 4,650 shares of the semiconductor company's stock worth $2,257,000 after acquiring an additional 22 shares during the period. Hardy Reed LLC increased its position in Synopsys by 0.7% during the first quarter. Hardy Reed LLC now owns 3,290 shares of the semiconductor company's stock worth $1,411,000 after acquiring an additional 22 shares during the period. Finally, Resurgent Financial Advisors LLC increased its position in Synopsys by 2.7% during the first quarter. Resurgent Financial Advisors LLC now owns 832 shares of the semiconductor company's stock worth $357,000 after acquiring an additional 22 shares during the period. 85.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

SNPS has been the topic of a number of recent research reports. Stifel Nicolaus set a $550.00 price target on shares of Synopsys in a research report on Monday, April 28th. Rosenblatt Securities increased their price objective on shares of Synopsys from $625.00 to $650.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Needham & Company LLC reiterated a "buy" rating and set a $660.00 price objective (up from $650.00) on shares of Synopsys in a research note on Tuesday, July 15th. KeyCorp increased their price objective on shares of Synopsys from $540.00 to $610.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Finally, Mizuho reduced their price objective on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, Synopsys currently has a consensus rating of "Moderate Buy" and an average target price of $622.33.

Synopsys Trading Down 1.2%

Synopsys stock traded down $7.52 during mid-day trading on Tuesday, hitting $628.50. 1,032,082 shares of the stock were exchanged, compared to its average volume of 2,496,804. 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 12 month low of $365.74 and a 12 month high of $651.73. The firm's fifty day simple moving average is $532.39 and its two-hundred day simple moving average is $491.96. The stock has a market capitalization of $97.52 billion, a price-to-earnings ratio of 45.38, a PEG ratio of 4.21 and a beta of 1.15.

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 (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 analyst estimates of $1.60 billion. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The company's revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the business earned $3.00 EPS. Analysts forecast that Synopsys, Inc. will post 10.64 EPS for the current year.

Insider Activity

In other news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction 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 completion of the sale, the chief executive officer owned 71,589 shares in the company, valued at $32,782,750.77. The trade was a 13.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Shelagh Glaser sold 7,310 shares of Synopsys stock in a transaction 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 completion of the sale, the chief financial officer owned 15,291 shares of the company's stock, valued at $7,427,144.52. This represents a 32.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,686 shares of company stock worth $13,001,048 in the last quarter. 0.62% of the stock is owned by corporate 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.