Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Rheos Capital Works Inc.

Rheos Capital Works Inc. decreased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 51.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,000 shares of the semiconductor company’s stock after selling 25,000 shares during the quarter. Rheos Capital Works Inc.’s holdings in Synopsys were worth $10,292,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNPS. Advisors Capital Management LLC lifted its holdings in shares of Synopsys by 2.3% in the fourth quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company’s stock valued at $408,000 after purchasing an additional 19 shares in the last quarter. Compagnie Lombard Odier SCmA lifted its stake in Synopsys by 1.1% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company’s stock valued at $898,000 after buying an additional 20 shares in the last quarter. Edge Capital Group LLC grew its holdings in Synopsys by 1.2% during the 4th quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company’s stock valued at $791,000 after buying an additional 20 shares during the last quarter. Barden Capital Management Inc. increased its position in Synopsys by 1.1% during the fourth quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company’s stock worth $889,000 after buying an additional 20 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. raised its holdings in shares of Synopsys by 28.6% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the business’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 transaction of $5,204,832.38. Following the completion of the sale, the chief executive officer now directly owns 71,589 shares in the company, valued at $32,782,750.77. The trade was a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.62% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SNPS. Needham & Company LLC reaffirmed a “buy” rating and set a $650.00 price objective on shares of Synopsys in a research note on Thursday, May 29th. KeyCorp set a $540.00 price target on shares of Synopsys in a report on Tuesday, June 3rd. Morgan Stanley cut their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Wells Fargo & Company decreased their target price on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Finally, Bank of America lowered their target price on shares of Synopsys from $630.00 to $560.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Synopsys currently has an average rating of “Moderate Buy” and a consensus price target of $607.14.

Synopsys Stock Up 0.8%

Shares of SNPS opened at $486.00 on Monday. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $624.80. The company’s fifty day moving average is $456.95 and its two-hundred day moving average is $483.02. The firm has a market cap of $75.41 billion, a PE ratio of 33.47, a price-to-earnings-growth ratio of 3.23 and a beta of 1.11.

Synopsys (NASDAQ:SNPS) last announced 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. The company had revenue of $1.60 billion during 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 in the prior year, the firm posted $3.00 earnings per share. As a group, equities research analysts anticipate that Synopsys, Inc. will post 10.64 earnings per share 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.