Bay Colony Advisory Group Inc d b a Bay Colony Advisors Reduces Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors lowered its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 15.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 357 shares of the semiconductor company’s stock after selling 65 shares during the quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Synopsys were worth $212,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Synopsys in the 4th quarter valued at about $1,272,143,000. Swedbank AB acquired a new position in Synopsys during the first quarter worth approximately $1,051,637,000. Price T Rowe Associates Inc. MD lifted its stake in Synopsys by 39.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock valued at $3,050,441,000 after buying an additional 1,514,449 shares during the last quarter. GQG Partners LLC grew its position in shares of Synopsys by 91.6% during the first quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock worth $1,197,350,000 after acquiring an additional 1,001,371 shares during the last quarter. Finally, Capital World Investors grew its position in shares of Synopsys by 12.5% during the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock worth $4,211,892,000 after acquiring an additional 818,485 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 John F. Runkel, Jr. sold 936 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $566.97, for a total value of $530,683.92. Following the sale, the insider now directly owns 20,000 shares in the company, valued at $11,339,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Geus Aart De sold 493 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $620.60, for a total value of $305,955.80. Following the completion of the transaction, the insider now owns 106,983 shares of the company’s stock, valued at approximately $66,393,649.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John F. Runkel, Jr. sold 936 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $566.97, for a total transaction of $530,683.92. Following the sale, the insider now directly owns 20,000 shares in the company, valued at $11,339,400. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,830 shares of company stock worth $42,643,721. Insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

SNPS has been the subject of several research reports. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research report on Friday. Needham & Company LLC reissued a “buy” rating and set a $640.00 price target on shares of Synopsys in a report on Thursday. Robert W. Baird lifted their price objective on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday. KeyCorp increased their target price on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Finally, JPMorgan Chase & Co. lifted their price target on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research note on Thursday. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Synopsys has an average rating of “Buy” and an average price target of $630.09.

Synopsys Price Performance

NASDAQ SNPS opened at $539.39 on Friday. The business has a 50 day moving average price of $570.87 and a 200 day moving average price of $566.39. The company has a market capitalization of $82.64 billion, a P/E ratio of 58.63, a PEG ratio of 3.58 and a beta of 1.07. Synopsys, Inc. has a 1-year low of $434.14 and a 1-year high of $629.38.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.15. Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the company posted $2.17 EPS. The business’s revenue was up 12.7% on a year-over-year basis. On average, research analysts expect that Synopsys, Inc. will post 9.55 earnings per share for the current fiscal year.

Synopsys 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.