Security National Bank Increases Stake in Synopsys, Inc. (NASDAQ:SNPS)

Security National Bank grew its position in Synopsys, Inc. (NASDAQ:SNPS) by 7.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,060 shares of the semiconductor company’s stock after acquiring an additional 685 shares during the period. Security National Bank’s holdings in Synopsys were worth $4,314,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Synopsys by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company’s stock valued at $7,029,360,000 after acquiring an additional 120,575 shares during the period. Capital World Investors increased its holdings in shares of Synopsys by 1.6% in the 4th quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company’s stock valued at $3,533,526,000 after purchasing an additional 114,893 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Synopsys by 21.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company’s stock valued at $2,864,933,000 after purchasing an additional 1,045,326 shares during the period. Geode Capital Management LLC lifted its stake in shares of Synopsys by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company’s stock valued at $1,625,230,000 after purchasing an additional 75,298 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in Synopsys by 26.2% during the fourth quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company’s stock worth $916,441,000 after buying an additional 391,681 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SNPS. Piper Sandler reaffirmed an “overweight” rating and issued a $615.00 target price (down from $653.00) on shares of Synopsys in a report on Thursday, May 29th. Wells Fargo & Company lowered their price target on Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Rosenblatt Securities reduced their price objective on Synopsys from $660.00 to $625.00 and set a “buy” rating for the company in a report on Thursday, May 29th. KeyCorp set a $540.00 target price on Synopsys in a research report on Tuesday, June 3rd. Finally, Stifel Nicolaus set a $550.00 target price on Synopsys in a report on Monday, April 28th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $607.14.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 71,589 shares of the company’s stock, valued at approximately $32,782,750.77. This trade represents a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Shelagh Glaser sold 7,310 shares of the business’s stock in a transaction that occurred 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 owns 15,291 shares of the company’s stock, valued at approximately $7,427,144.52. The trade was a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,686 shares of company stock worth $13,001,048. 0.62% of the stock is currently owned by insiders.

Synopsys Stock Performance

Shares of NASDAQ SNPS opened at $487.27 on Thursday. The company has a 50-day simple moving average of $475.90 and a 200-day simple moving average of $477.69. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85. The company has a market cap of $75.60 billion, a PE ratio of 35.18, a price-to-earnings-growth ratio of 3.16 and a beta of 1.11. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $624.80.

Synopsys (NASDAQ:SNPS) last released its earnings results 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 net margin of 34.77% and a return on equity of 17.09%. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same period in the previous year, the company earned $3.00 EPS. Synopsys’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, equities analysts anticipate that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Synopsys Company 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.