Freestone Capital Holdings LLC Decreases Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Freestone Capital Holdings LLC lowered its position in Synopsys, Inc. (NASDAQ:SNPS) by 36.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,300 shares of the semiconductor company’s stock after selling 752 shares during the quarter. Freestone Capital Holdings LLC’s holdings in Synopsys were worth $743,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. HB Wealth Management LLC raised its position in Synopsys by 5.4% in the 4th quarter. HB Wealth Management LLC now owns 2,548 shares of the semiconductor company’s stock valued at $1,312,000 after purchasing an additional 131 shares during the last quarter. CoreCap Advisors LLC boosted its stake in shares of Synopsys by 131.4% during the fourth quarter. CoreCap Advisors LLC now owns 1,215 shares of the semiconductor company’s stock worth $626,000 after buying an additional 690 shares during the period. Raymond James & Associates grew its holdings in shares of Synopsys by 5.5% during the fourth quarter. Raymond James & Associates now owns 124,963 shares of the semiconductor company’s stock worth $64,345,000 after buying an additional 6,532 shares during the last quarter. CVA Family Office LLC acquired a new position in Synopsys in the 4th quarter valued at about $128,000. Finally, Raymond James Financial Services Advisors Inc. raised its stake in Synopsys by 0.5% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 8,140 shares of the semiconductor company’s stock valued at $4,191,000 after acquiring an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insiders Place Their Bets

In other news, insider Geus Aart De sold 493 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $620.60, for a total transaction of $305,955.80. Following the transaction, the insider now owns 106,983 shares in the company, valued at $66,393,649.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Synopsys news, insider John F. Runkel, Jr. sold 1,239 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $582.90, for a total value of $722,213.10. Following the completion of the sale, the insider now directly owns 20,000 shares in the company, valued at $11,658,000. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Geus Aart De sold 493 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $620.60, for a total value of $305,955.80. Following the transaction, the insider now directly owns 106,983 shares in the company, valued at $66,393,649.80. The disclosure for this sale can be found here. Insiders have sold a total of 81,363 shares of company stock worth $49,361,263 over the last quarter. Company insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Rosenblatt Securities restated a “buy” rating and issued a $615.00 price target on shares of Synopsys in a report on Thursday, May 23rd. Robert W. Baird raised their price target on Synopsys from $645.00 to $661.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 2nd. Piper Sandler boosted their price target on Synopsys from $672.00 to $687.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. KeyCorp upped their target price on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Finally, JPMorgan Chase & Co. lifted their price target on Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $627.18.

Synopsys Stock Up 1.3 %

Synopsys stock traded up $6.94 during midday trading on Friday, reaching $545.66. 443,823 shares of the stock traded hands, compared to its average volume of 1,055,762. Synopsys, Inc. has a 12 month low of $418.51 and a 12 month high of $629.38. The stock’s fifty day moving average is $589.55 and its 200-day moving average is $565.01. The stock has a market cap of $83.61 billion, a P/E ratio of 59.88, a PEG ratio of 3.57 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share for the quarter, missing the consensus estimate of $3.03 by ($0.03). The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.50 billion. Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.76 EPS. On average, equities analysts predict that Synopsys, Inc. will post 9.66 EPS for the current fiscal year.

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.