SVB Wealth LLC Sells 322 Shares of Synopsys, Inc. (NASDAQ:SNPS)

SVB Wealth LLC reduced its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 23.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,066 shares of the semiconductor company’s stock after selling 322 shares during the period. SVB Wealth LLC’s holdings in Synopsys were worth $609,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SNPS. Bay Harbor Wealth Management LLC bought a new position in shares of Synopsys in the first quarter worth about $26,000. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of Synopsys during the fourth quarter worth approximately $28,000. Jones Financial Companies Lllp raised its stake in shares of Synopsys by 233.3% during the fourth quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock worth $31,000 after buying an additional 42 shares during the last quarter. Activest Wealth Management bought a new stake in shares of Synopsys during the first quarter worth approximately $35,000. Finally, Hazlett Burt & Watson Inc. raised its stake in shares of Synopsys by 40.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $40,000 after buying an additional 20 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $582.41, for a total value of $5,995,328.54. Following the transaction, the chief executive officer now owns 62,568 shares in the company, valued at $36,440,228.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $582.41, for a total value of $5,995,328.54. Following the completion of the sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $36,440,228.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Geus Aart De sold 5,448 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $620.95, for a total value of $3,382,935.60. Following the completion of the sale, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $66,431,093.85. The disclosure for this sale can be found here. Insiders have sold 81,363 shares of company stock worth $49,361,263 over the last ninety days. Insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SNPS shares. JPMorgan Chase & Co. boosted their price target on shares of Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Needham & Company LLC reissued a “buy” rating and set a $660.00 price target on shares of Synopsys in a research note on Thursday, May 23rd. Robert W. Baird boosted their price objective on shares of Synopsys from $645.00 to $661.00 and gave the company an “outperform” rating in a report on Tuesday, July 2nd. Rosenblatt Securities restated a “buy” rating and set a $615.00 price objective on shares of Synopsys in a report on Thursday, May 23rd. Finally, KeyCorp boosted their price objective on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $627.18.

Synopsys Price Performance

Shares of NASDAQ SNPS traded up $1.14 during trading on Monday, hitting $547.52. The stock had a trading volume of 490,613 shares, compared to its average volume of 1,053,460. Synopsys, Inc. has a 12 month low of $418.51 and a 12 month high of $629.38. The company has a market capitalization of $83.89 billion, a PE ratio of 59.92, a PEG ratio of 3.53 and a beta of 1.07. The firm has a fifty day moving average of $589.14 and a two-hundred day moving average of $566.20.

Synopsys (NASDAQ:SNPS) last posted 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). Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the company posted $1.76 EPS. Synopsys’s quarterly revenue was up 15.2% compared to the same quarter last year. On average, equities analysts expect that Synopsys, Inc. will post 9.66 earnings per share for the current fiscal 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.