Union Bancaire Privee UBP SA Trims Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Union Bancaire Privee UBP SA cut its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 80.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,991 shares of the semiconductor company’s stock after selling 29,105 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in Synopsys were worth $2,971,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Ameriflex Group Inc. purchased a new position in Synopsys in the 4th quarter valued at about $29,000. Whipplewood Advisors LLC purchased a new position in shares of Synopsys during the fourth quarter valued at approximately $33,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Synopsys during the fourth quarter valued at approximately $34,000. Sierra Ocean LLC acquired a new stake in Synopsys during the fourth quarter worth approximately $39,000. Finally, Hazlett Burt & Watson Inc. grew its stake in 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 acquiring an additional 20 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Price Performance

Synopsys stock opened at $500.73 on Thursday. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $624.80. The company has a fifty day moving average price of $462.08 and a two-hundred day moving average price of $482.81. The company has a market cap of $77.69 billion, a PE ratio of 34.49, a P/E/G 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 earnings per share for the quarter, topping analysts’ consensus estimates of $3.40 by $0.27. Synopsys had a return on equity of 20.48% and a net margin of 36.12%. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same period in the prior year, the firm earned $3.00 EPS. The business’s quarterly revenue was up 10.3% on a year-over-year basis. Equities research analysts anticipate that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Insider Transactions at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 71,589 shares in the company, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Shelagh Glaser sold 7,310 shares of the firm’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 transaction, the chief financial officer now owns 15,291 shares in the company, valued at $7,427,144.52. This represents a 32.34% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Morgan Stanley reduced their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Needham & Company LLC restated a “buy” rating and issued a $650.00 price objective on shares of Synopsys in a report on Thursday, May 29th. Rosenblatt Securities decreased their price target on Synopsys from $660.00 to $625.00 and set a “buy” rating for the company in a report on Thursday, May 29th. Mizuho dropped their price objective on shares of Synopsys from $650.00 to $600.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Finally, Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a research note on Monday, April 28th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Synopsys currently has an average rating of “Moderate Buy” and an average target price of $607.14.

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.