Graypoint LLC Cuts Stake in Synopsys, Inc. (NASDAQ:SNPS)

Graypoint LLC lessened its stake in Synopsys, Inc. (NASDAQ:SNPS) by 11.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 976 shares of the semiconductor company’s stock after selling 124 shares during the period. Graypoint LLC’s holdings in Synopsys were worth $419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SNPS. Cornerstone Planning Group LLC grew its stake in shares of Synopsys by 275.0% during the first quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 44 shares during the last quarter. Ameriflex Group Inc. purchased a new stake in shares of Synopsys during the fourth quarter worth about $29,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Synopsys during the fourth quarter worth about $34,000. Cloud Capital Management LLC acquired a new stake in shares of Synopsys during the first quarter worth about $36,000. Finally, Hazlett Burt & Watson Inc. lifted its holdings 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 period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on SNPS. Mizuho decreased their price target on Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. The Goldman Sachs Group initiated coverage on Synopsys in a research report on Thursday, July 10th. They issued a “buy” rating and a $620.00 price objective for the company. Piper Sandler restated an “overweight” rating and issued a $615.00 price objective (down from $653.00) on shares of Synopsys in a research report on Thursday, May 29th. KeyCorp boosted their price target on Synopsys from $540.00 to $610.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Finally, Stifel Nicolaus set a $550.00 price target on Synopsys in a research report on Monday, April 28th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $617.67.

Synopsys Stock Down 0.7%

Shares of NASDAQ:SNPS opened at $584.76 on Friday. The firm’s 50 day moving average price is $508.54 and its 200 day moving average price is $482.97. The stock has a market cap of $90.73 billion, a price-to-earnings ratio of 42.22, a price-to-earnings-growth ratio of 3.90 and a beta of 1.12. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $600.90. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.40 by $0.27. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same period last year, the business posted $3.00 EPS. The company’s revenue was up 10.3% on a year-over-year basis. As a group, equities research analysts predict that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 11,366 shares of the company’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $457.93, for a total value of $5,204,832.38. Following the completion of the transaction, the chief executive officer directly owned 71,589 shares in the company, valued at approximately $32,782,750.77. This represents a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Shelagh Glaser sold 7,310 shares of the company’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $485.72, for a total value of $3,550,613.20. Following the completion of the transaction, the chief financial officer owned 15,291 shares of the company’s stock, valued at $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 valued at $13,001,048. 0.62% of the stock is owned by insiders.

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.