UMB Bank n.a. Has $406,000 Stake in Synopsys, Inc. (NASDAQ:SNPS)

UMB Bank n.a. reduced its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 49.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 946 shares of the semiconductor company's stock after selling 917 shares during the period. UMB Bank n.a.'s holdings in Synopsys were worth $406,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Advisors Capital Management LLC lifted its holdings 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 worth $408,000 after buying an additional 19 shares during the last quarter. Compagnie Lombard Odier SCmA increased its position in Synopsys by 1.1% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company's stock worth $898,000 after acquiring an additional 20 shares during the period. Edge Capital Group LLC raised its stake in Synopsys by 1.2% during the 4th quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company's stock valued at $791,000 after purchasing an additional 20 shares during the last quarter. Barden Capital Management Inc. boosted its holdings in Synopsys by 1.1% in the 4th quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company's stock valued at $889,000 after purchasing an additional 20 shares during the period. Finally, Hazlett Burt & Watson Inc. grew its position in Synopsys by 28.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after buying an additional 20 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Insider Buying and Selling at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction on 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 sale, the chief executive officer now directly owns 71,589 shares in the company, 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 legal filing with the SEC, which is available at this hyperlink. Also, CFO Shelagh Glaser sold 7,310 shares of the business's 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 now directly owns 15,291 shares in the company, valued at $7,427,144.52. This represents a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.62% of the company's stock.

Wall Street Analysts Forecast Growth

SNPS has been the topic of a number of research reports. Mizuho lowered their price objective on Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Needham & Company LLC reiterated a "buy" rating and set a $650.00 price target on shares of Synopsys in a research note on Thursday, May 29th. Bank of America lowered their price target on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Piper Sandler reaffirmed an "overweight" rating and set a $615.00 price objective (down from $653.00) on shares of Synopsys in a report on Thursday, May 29th. Finally, Wells Fargo & Company lowered their target price on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $607.14.

Synopsys Price Performance

Shares of NASDAQ:SNPS traded down $3.67 during midday trading on Wednesday, reaching $500.73. The company's stock had a trading volume of 1,104,803 shares, compared to its average volume of 1,151,156. The business's fifty day simple moving average is $459.83 and its 200-day simple moving average is $482.68. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $624.80. The company has a market capitalization of $77.69 billion, a P/E ratio of 34.49, a P/E/G ratio of 3.23 and a beta of 1.11.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, topping the consensus estimate of $3.40 by $0.27. Synopsys had a return on equity of 20.48% and a net margin of 36.12%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the business posted $3.00 EPS. The firm's revenue was up 10.3% compared to the same quarter last year. On average, analysts forecast that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

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.