Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd cut its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 75.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,177 shares of the semiconductor company's stock after selling 10,001 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Synopsys were worth $1,362,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Advisors Capital Management LLC lifted its position in Synopsys by 2.3% in 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. Hazlett Burt & Watson Inc. lifted its position in shares of 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 purchasing an additional 20 shares during the last quarter. Peninsula Wealth LLC lifted 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 worth $2,050,000 after purchasing an additional 20 shares during the last quarter. Williams Jones Wealth Management LLC. lifted its holdings in Synopsys by 0.5% during the 4th quarter. Williams Jones Wealth Management LLC. now owns 4,650 shares of the semiconductor company's stock valued at $2,257,000 after buying an additional 22 shares in the last quarter. Finally, Hardy Reed LLC boosted its position in Synopsys by 0.7% in the 1st quarter. Hardy Reed LLC now owns 3,290 shares of the semiconductor company's stock valued at $1,411,000 after buying an additional 22 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SNPS has been the topic of a number of research reports. The Goldman Sachs Group assumed 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. Mizuho lowered their target price on Synopsys from $650.00 to $600.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Bank of America raised their price target on Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. KeyCorp lifted their price objective on Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Finally, Piper Sandler lifted their price objective on Synopsys from $615.00 to $660.00 and gave the company an "overweight" rating in a report on Monday. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $622.33.

Insider Buying and Selling

In related news, CRO Richard S. Mahoney sold 9,010 shares of Synopsys 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 sale, the executive owned 1,485 shares of the company's stock, valued at $699,746.85. The trade was a 85.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Shelagh Glaser sold 7,310 shares of Synopsys stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $485.72, for a total value of $3,550,613.20. Following the sale, the chief financial officer directly owned 15,291 shares of the company's stock, valued at $7,427,144.52. This trade 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 valued at $13,001,048 over the last quarter. 0.62% of the stock is currently owned by company insiders.

Synopsys Stock Down 1.3%

Shares of SNPS stock traded down $8.13 during trading hours on Friday, reaching $601.55. 1,819,768 shares of the company's stock were exchanged, compared to its average volume of 1,443,806. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $618.49. The stock has a market cap of $93.34 billion, a PE ratio of 43.43, a PEG ratio of 4.07 and a beta of 1.12. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. The stock's fifty day moving average price is $516.09 and its two-hundred day moving average price is $486.19.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, topping analysts' consensus estimates of $3.40 by $0.27. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the previous year, the company posted $3.00 earnings per share. The company's revenue was up 10.3% compared to the same quarter last year. Research analysts predict that Synopsys, Inc. will post 10.64 EPS for the current 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.