GKV Capital Management Co. Inc. Sells 1,873 Shares of Synopsys, Inc. $SNPS

GKV Capital Management Co. Inc. lowered its position in Synopsys, Inc. (NASDAQ:SNPS) by 93.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 142 shares of the semiconductor company’s stock after selling 1,873 shares during the quarter. GKV Capital Management Co. Inc.’s holdings in Synopsys were worth $61,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. North Star Asset Management Inc. increased its stake in shares of Synopsys by 3.6% in the first quarter. North Star Asset Management Inc. now owns 60,270 shares of the semiconductor company’s stock valued at $25,847,000 after buying an additional 2,082 shares during the period. SlateStone Wealth LLC increased its stake in shares of Synopsys by 467.8% in the first quarter. SlateStone Wealth LLC now owns 10,220 shares of the semiconductor company’s stock valued at $4,383,000 after buying an additional 8,420 shares during the period. Dynamic Advisor Solutions LLC acquired a new position in shares of Synopsys in the first quarter valued at approximately $1,000,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Synopsys by 3.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 20,172 shares of the semiconductor company’s stock valued at $8,651,000 after buying an additional 655 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Synopsys in the first quarter valued at approximately $3,116,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Buying and Selling

In related news, CFO Shelagh Glaser sold 7,310 shares of the stock in a transaction on 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 completion of the sale, the chief financial officer directly owned 15,291 shares of the company’s stock, valued at approximately $7,427,144.52. This represents a 32.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction 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 directly owned 71,589 shares of the company’s stock, valued at $32,782,750.77. The trade was a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,686 shares of company stock worth $13,001,048 in the last ninety days. Corporate insiders own 0.62% of the company’s stock.

Synopsys Price Performance

Synopsys stock opened at $603.52 on Friday. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $651.73. The stock’s 50 day moving average price is $583.07 and its two-hundred day moving average price is $503.46. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02. The stock has a market capitalization of $93.64 billion, a price-to-earnings ratio of 43.58, a PEG ratio of 4.02 and a beta of 1.15.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (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 company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same period last year, the business earned $3.00 EPS. Synopsys’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, equities analysts predict that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SNPS has been the subject of several recent research reports. The Goldman Sachs Group initiated coverage on Synopsys in a research note on Thursday, July 10th. They issued a “buy” rating and a $620.00 price objective for the company. Morgan Stanley reiterated an “overweight” rating and issued a $715.00 target price (up from $540.00) on shares of Synopsys in a report on Monday, August 11th. Rosenblatt Securities upped their target price on Synopsys from $625.00 to $650.00 and gave the company a “buy” rating in a report on Friday, July 25th. Needham & Company LLC reiterated a “buy” rating and issued a $660.00 target price (up from $650.00) on shares of Synopsys in a report on Tuesday, July 15th. Finally, Bank of America upped their target price on Synopsys from $575.00 to $625.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $634.64.

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.