Everhart Financial Group Inc. Sells 361 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Everhart Financial Group Inc. decreased its position in Synopsys, Inc. (NASDAQ:SNPS) by 17.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,690 shares of the semiconductor company’s stock after selling 361 shares during the quarter. Everhart Financial Group Inc.’s holdings in Synopsys were worth $725,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SNPS. Advisors Capital Management LLC lifted its stake in shares of Synopsys by 2.3% in the 4th quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company’s stock worth $408,000 after purchasing an additional 19 shares during the period. Compagnie Lombard Odier SCmA boosted its stake in shares of Synopsys by 1.1% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company’s stock worth $898,000 after acquiring an additional 20 shares during the last quarter. Edge Capital Group LLC grew its position in shares of Synopsys by 1.2% during the 4th quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company’s stock valued at $791,000 after acquiring an additional 20 shares during the period. Barden Capital Management Inc. grew its position in shares of Synopsys by 1.1% during the 4th quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company’s stock valued at $889,000 after acquiring an additional 20 shares during the period. Finally, Hazlett Burt & Watson Inc. increased its stake in shares of Synopsys by 28.6% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 20 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Rosenblatt Securities cut their price target on Synopsys from $660.00 to $625.00 and set a “buy” rating for the company in a report on Thursday, May 29th. Bank of America lowered their price objective on Synopsys from $630.00 to $560.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. KeyCorp set a $540.00 target price on shares of Synopsys in a report on Tuesday, June 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $650.00 price target on shares of Synopsys in a report on Thursday, May 29th. Finally, Morgan Stanley reduced their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $607.14.

Synopsys Stock Performance

Shares of NASDAQ SNPS opened at $478.86 on Friday. The firm’s fifty day moving average is $466.31 and its two-hundred day moving average is $481.83. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $624.80. The company has a market cap of $74.30 billion, a P/E ratio of 32.98, a P/E/G ratio of 3.23 and a beta of 1.11.

Synopsys (NASDAQ:SNPS) last issued its 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 firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Synopsys had a return on equity of 20.48% and a net margin of 36.12%. The business’s revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.00 earnings per share. As a group, analysts forecast that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Insider Activity

In other news, CFO Shelagh Glaser sold 7,310 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the sale, the chief financial officer now directly owns 15,291 shares in the company, valued at approximately $7,427,144.52. This represents a 32.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction dated 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 now owns 71,589 shares of the company’s stock, valued at approximately $32,782,750.77. This represents a 13.70% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company’s stock.

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.