Baldwin Investment Management LLC Sells 374 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Baldwin Investment Management LLC lessened its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 7.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,668 shares of the semiconductor company’s stock after selling 374 shares during the quarter. Baldwin Investment Management LLC’s holdings in Synopsys were worth $2,002,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of SNPS. Advisors Capital Management LLC grew its holdings in shares of Synopsys by 2.3% in the 4th quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company’s stock worth $408,000 after purchasing an additional 19 shares during the last quarter. Hazlett Burt & Watson Inc. grew its holdings in shares of Synopsys by 28.6% in the 4th 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 grew its holdings in shares of Synopsys by 0.5% in the 4th 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. grew its holdings in shares of Synopsys by 0.5% in the 4th quarter. Williams Jones Wealth Management LLC. now owns 4,650 shares of the semiconductor company’s stock worth $2,257,000 after purchasing an additional 22 shares during the last quarter. Finally, Hardy Reed LLC grew its holdings in shares of Synopsys by 0.7% in the 1st quarter. Hardy Reed LLC now owns 3,290 shares of the semiconductor company’s stock worth $1,411,000 after purchasing an additional 22 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the company’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 completion of the sale, the chief executive officer owned 71,589 shares of the company’s stock, valued at approximately $32,782,750.77. This represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Richard S. Mahoney sold 9,010 shares of the company’s stock in a transaction that occurred on Wednesday, June 18th. The shares were 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 directly owned 1,485 shares of the company’s stock, valued at $699,746.85. The trade was a 85.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,686 shares of company stock worth $13,001,048 in the last quarter. 0.62% of the stock is owned by company insiders.

Synopsys Stock Down 1.3%

Shares of NASDAQ:SNPS opened at $601.55 on Monday. Synopsys, Inc. has a one year low of $365.74 and a one year high of $618.49. The company has a 50 day moving average of $517.83 and a 200-day moving average of $486.77. 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 stock has a market cap of $93.34 billion, a price-to-earnings ratio of 43.43, a P/E/G ratio of 3.98 and a beta of 1.12.

Synopsys (NASDAQ:SNPS) last issued its quarterly 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 company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the previous year, the company earned $3.00 EPS. Synopsys’s revenue was up 10.3% on a year-over-year basis. On average, sell-side analysts forecast that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Wall Street Analyst Weigh In

SNPS has been the topic of several analyst reports. Piper Sandler upped their target price on shares of Synopsys from $615.00 to $660.00 and gave the stock an “overweight” rating in a report on Monday, July 21st. KeyCorp upped their target price on shares of Synopsys from $540.00 to $610.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Bank of America upped their target price on shares of Synopsys from $575.00 to $625.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Stifel Nicolaus set a $550.00 price objective on shares of Synopsys in a research report on Monday, April 28th. Finally, The Goldman Sachs Group initiated coverage on shares of Synopsys in a research report on Thursday, July 10th. They issued a “buy” rating and a $620.00 price objective for the company. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $622.33.

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.