Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Gemmer Asset Management LLC

Gemmer Asset Management LLC trimmed its position in Synopsys, Inc. (NASDAQ:SNPS) by 14.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 484 shares of the semiconductor company’s stock after selling 79 shares during the period. Gemmer Asset Management LLC’s holdings in Synopsys were worth $208,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Synopsys by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company’s stock worth $7,029,360,000 after buying an additional 120,575 shares during the last quarter. Capital World Investors lifted its stake in Synopsys by 1.6% in the 4th quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company’s stock worth $3,533,526,000 after purchasing an additional 114,893 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Synopsys by 21.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company’s stock worth $2,864,933,000 after purchasing an additional 1,045,326 shares in the last quarter. Geode Capital Management LLC lifted its stake in Synopsys by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company’s stock worth $1,625,230,000 after purchasing an additional 75,298 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Synopsys by 26.2% in the 4th quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company’s stock worth $916,441,000 after purchasing an additional 391,681 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the business’s 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 transaction, the chief executive officer now 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 legal filing with the SEC, which is available at the SEC website. 0.62% of the stock is owned by insiders.

Synopsys Stock Performance

SNPS stock opened at $486.00 on Friday. The firm has a market cap of $75.41 billion, a PE ratio of 33.47, a PEG ratio of 3.23 and a beta of 1.11. The firm’s 50 day moving average price is $456.95 and its 200-day moving average price is $483.94. Synopsys, Inc. has a one year low of $365.74 and a one year high of $624.80.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.40 by $0.27. Synopsys had a net margin of 36.12% and a return on equity of 20.48%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the firm earned $3.00 EPS. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. Equities research analysts predict that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. KeyCorp set a $540.00 target price on shares of Synopsys in a research note on Tuesday. Rosenblatt Securities decreased their target price on shares of Synopsys from $660.00 to $625.00 and set a “buy” rating on the stock in a research note on Thursday, May 29th. Needham & Company LLC reissued a “buy” rating and issued a $650.00 target price on shares of Synopsys in a research note on Thursday, May 29th. 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 note on Thursday, February 27th. Finally, Mizuho decreased their target price 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. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Synopsys presently has an average rating of “Moderate Buy” and an average price target of $607.14.

Synopsys Company 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.