Sentry Investment Management LLC Sells 322 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Sentry Investment Management LLC lessened its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 23.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,076 shares of the semiconductor company’s stock after selling 322 shares during the quarter. Sentry Investment Management LLC’s holdings in Synopsys were worth $461,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of SNPS. Brighton Jones LLC lifted its holdings in shares of Synopsys by 5.7% during the 4th quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company’s stock worth $447,000 after acquiring an additional 50 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in Synopsys in the 4th quarter valued at $17,162,000. Caprock Group LLC boosted its stake in shares of Synopsys by 0.5% in the 4th quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company’s stock valued at $1,803,000 after purchasing an additional 20 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Synopsys by 3.5% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,491 shares of the semiconductor company’s stock worth $2,180,000 after purchasing an additional 150 shares in the last quarter. Finally, DAVENPORT & Co LLC lifted its holdings in Synopsys by 2.9% during the 4th quarter. DAVENPORT & Co LLC now owns 2,521 shares of the semiconductor company’s stock valued at $1,224,000 after purchasing an additional 70 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Insider Activity at Synopsys

In related news, insider Geus Aart De sold 15,705 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the transaction, the insider now owns 116,671 shares in the company, valued at approximately $51,850,925.82. The trade was a 11.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.62% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SNPS shares. Needham & Company LLC reaffirmed a “buy” rating and set a $650.00 price target on shares of Synopsys in a report on Thursday, May 29th. KeyCorp set a $575.00 price objective on shares of Synopsys and gave the company an “overweight” rating in a research report on Tuesday, May 20th. Morgan Stanley reduced their target price on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Mizuho lowered their price target on shares of Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Finally, Bank of America dropped their price objective on shares of Synopsys from $630.00 to $560.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $609.64.

Synopsys Stock Performance

SNPS opened at $466.15 on Tuesday. The company has a fifty day moving average price of $453.78 and a two-hundred day moving average price of $484.76. Synopsys, Inc. has a 52 week low of $365.74 and a 52 week high of $624.80. The firm has a market capitalization of $72.33 billion, a PE ratio of 32.10, a P/E/G ratio of 3.23 and a beta of 1.16.

Synopsys (NASDAQ:SNPS) last posted 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 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 firm’s revenue was up 10.3% on a year-over-year basis. During the same period last year, the company earned $3.00 EPS. Equities 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.