Union Bancaire Privee UBP SA Has $2.97 Million Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Union Bancaire Privee UBP SA decreased its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 80.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,991 shares of the semiconductor company's stock after selling 29,105 shares during the quarter. Union Bancaire Privee UBP SA's holdings in Synopsys were worth $2,971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in SNPS. Simon Quick Advisors LLC grew its position in shares of Synopsys by 121.5% during the 1st quarter. Simon Quick Advisors LLC now owns 1,411 shares of the semiconductor company's stock worth $605,000 after buying an additional 774 shares in the last quarter. My Legacy Advisors LLC raised its stake in Synopsys by 4.6% in the first quarter. My Legacy Advisors LLC now owns 663 shares of the semiconductor company's stock valued at $284,000 after buying an additional 29 shares during the last quarter. Redhawk Wealth Advisors Inc. raised its stake in Synopsys by 2.5% in the first quarter. Redhawk Wealth Advisors Inc. now owns 6,248 shares of the semiconductor company's stock valued at $2,679,000 after buying an additional 155 shares during the last quarter. Integrated Advisors Network LLC raised its stake in Synopsys by 8.0% in the first quarter. Integrated Advisors Network LLC now owns 529 shares of the semiconductor company's stock valued at $227,000 after buying an additional 39 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in shares of Synopsys by 25.1% in the first quarter. Handelsbanken Fonder AB now owns 286,558 shares of the semiconductor company's stock valued at $122,890,000 after purchasing an additional 57,424 shares during the period. Institutional investors own 85.47% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SNPS. Bank of America cut their price objective on Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Morgan Stanley cut their price objective on Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a report on Monday, February 24th. Wells Fargo & Company cut their price objective on Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a report on Thursday, February 27th. Piper Sandler reaffirmed an "overweight" rating and set a $615.00 target price (down from $653.00) on shares of Synopsys in a report on Thursday, May 29th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $650.00 target price on shares of Synopsys in a report on Thursday, May 29th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $607.14.

Synopsys Trading Down 1.1%

NASDAQ:SNPS traded down $5.74 during mid-day trading on Thursday, hitting $494.99. The company had a trading volume of 867,710 shares, compared to its average volume of 1,153,795. The business has a fifty day simple moving average of $462.08 and a 200-day simple moving average of $482.81. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80. The firm has a market capitalization of $76.80 billion, a price-to-earnings ratio of 34.09, a PEG ratio of 3.23 and a beta of 1.11.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.40 by $0.27. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.60 billion. Synopsys had a return on equity of 20.48% and a net margin of 36.12%. 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 company earned $3.00 earnings per share. As a group, research analysts anticipate that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the business'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 of the company's stock, valued at $32,782,750.77. The trade was a 13.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 transaction, the chief financial officer now owns 15,291 shares in the company, valued at approximately $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. 0.62% of the stock is owned by corporate insiders.

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.