Synopsys, Inc. $SNPS Shares Sold by Champlain Investment Partners LLC

Champlain Investment Partners LLC lessened its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 7.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 288,086 shares of the semiconductor company’s stock after selling 24,440 shares during the quarter. Champlain Investment Partners LLC owned about 0.19% of Synopsys worth $123,546,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Bank of America boosted their target price on Synopsys from $575.00 to $625.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Needham & Company LLC reissued a “buy” rating and set a $660.00 price target (up from $650.00) on shares of Synopsys in a research report on Tuesday, July 15th. Wells Fargo & Company reissued a “positive” rating on shares of Synopsys in a research report on Wednesday. KeyCorp upped their price target on Synopsys from $540.00 to $610.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Finally, Morgan Stanley reissued an “overweight” rating and set a $715.00 price target (up from $540.00) on shares of Synopsys in a research report on Monday, August 11th. Thirteen analysts have rated the stock with a Buy rating, According to MarketBeat.com, Synopsys has an average rating of “Buy” and an average price target of $626.79.

Synopsys Stock Performance

SNPS opened at $596.00 on Wednesday. The company has a market cap of $92.48 billion, a PE ratio of 43.03, a price-to-earnings-growth ratio of 3.92 and a beta of 1.15. The stock has a 50-day moving average of $575.05 and a 200-day moving average of $501.69. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $651.73. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.85 and a current ratio of 7.02.

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

Insider Transactions at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 9,010 shares of the company’s stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total value of $4,245,602.10. Following the completion of the transaction, the executive owned 1,485 shares of the company’s stock, valued at $699,746.85. This represents a 85.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $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. In the last quarter, insiders sold 27,686 shares of company stock worth $13,001,048. 0.62% of the stock is owned by corporate insiders.

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.