Triglav Skladi D.O.O. Sells 1,505 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Key Points

• Triglav Skladi D.O.O. reduced its holdings in Synopsys, Inc. by 44.2%, now owning 1,900 shares valued at $815,000 after selling 1,505 shares in the first quarter.
• Institutional investors account for 85.47% of Synopsys's stock ownership, with several firms making significant adjustments, including Cornerstone Planning Group's 275% increase in stake and Clal Insurance's 441.7% increase.
• Equity analysts have shown optimism for Synopsys, with the consensus rating being "Moderate Buy" and a price target of $630.67, as multiple analysts raised their price objectives for the stock.

Triglav Skladi D.O.O. lowered its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 44.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,900 shares of the semiconductor company's stock after selling 1,505 shares during the quarter. Triglav Skladi D.O.O.'s holdings in Synopsys were worth $815,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Synopsys by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 14,829,770 shares of the semiconductor company's stock worth $6,359,747,000 after purchasing an additional 346,994 shares during the period. Capital World Investors increased its holdings in shares of Synopsys by 1.6% during the 4th quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company's stock worth $3,533,526,000 after purchasing an additional 114,893 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Synopsys by 21.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock worth $2,864,933,000 after purchasing an additional 1,045,326 shares during the period. Pictet Asset Management Holding SA increased its holdings in shares of Synopsys by 38.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company's stock worth $1,043,518,000 after purchasing an additional 673,837 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of 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 acquiring an additional 391,681 shares in the last quarter. Institutional investors own 85.47% of the company's stock.

Insiders Place Their Bets

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer directly owned 71,589 shares of the company's stock, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CRO Richard S. Mahoney sold 9,010 shares of the business's stock in a transaction dated 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,686 shares of company stock valued at $13,001,048. Insiders own 0.62% of the company's stock.

Analysts Set New Price Targets

SNPS has been the topic of several recent research reports. The Goldman Sachs Group initiated coverage on shares of Synopsys in a research report on Thursday, July 10th. They set a "buy" rating and a $620.00 target price on the stock. Needham & Company LLC reiterated a "buy" rating and set a $660.00 target price (up from $650.00) on shares of Synopsys in a research report on Tuesday, July 15th. Morgan Stanley reiterated an "overweight" rating and set a $715.00 target price (up from $540.00) on shares of Synopsys in a research report on Monday. Rosenblatt Securities lifted their target price on shares of Synopsys from $625.00 to $650.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Finally, Bank of America lifted their target price on shares of Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $630.67.

Synopsys Price Performance

NASDAQ:SNPS traded down $2.21 on Thursday, reaching $616.36. The stock had a trading volume of 953,716 shares, compared to its average volume of 1,788,190. The company has a market capitalization of $95.63 billion, a P/E ratio of 44.50, a price-to-earnings-growth ratio of 4.09 and a beta of 1.15. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $651.73. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01. The stock has a fifty day moving average price of $556.26 and a 200-day moving average price of $497.32.

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, beating analysts' consensus estimates of $3.40 by $0.27. The firm had revenue of $1.60 billion for 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 for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.00 earnings per share. Research analysts forecast that Synopsys, Inc. will post 10.64 EPS for the current year.

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.