Advisor Resource Council Trims Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Advisor Resource Council cut its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 68.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,066 shares of the semiconductor company’s stock after selling 2,336 shares during the period. Advisor Resource Council’s holdings in Synopsys were worth $609,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Managment Co. acquired a new position in Synopsys during the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp increased its position in Synopsys by 233.3% during the 4th quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 42 shares during the period. WD Rutherford LLC acquired a new position in Synopsys during the 1st quarter worth approximately $40,000. Rise Advisors LLC acquired a new position in Synopsys during the 1st quarter worth approximately $46,000. Finally, Quarry LP increased its position in Synopsys by 63.1% during the 4th quarter. Quarry LP now owns 106 shares of the semiconductor company’s stock worth $55,000 after purchasing an additional 41 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Synopsys

In other Synopsys news, Director Mercedes Johnson sold 5,500 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $581.38, for a total transaction of $3,197,590.00. Following the sale, the director now owns 1,543 shares in the company, valued at approximately $897,069.34. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Synopsys news, Director Mercedes Johnson sold 5,500 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $581.38, for a total transaction of $3,197,590.00. Following the transaction, the director now owns 1,543 shares of the company’s stock, valued at approximately $897,069.34. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Geus Aart De sold 8,158 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $602.59, for a total value of $4,915,929.22. Following the transaction, the insider now directly owns 106,983 shares in the company, valued at approximately $64,466,885.97. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,232 shares of company stock worth $21,436,741. 0.66% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SNPS shares. StockNews.com upgraded Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Piper Sandler reiterated an “overweight” rating and set a $672.00 target price (up previously from $665.00) on shares of Synopsys in a research report on Thursday, May 23rd. Robert W. Baird upped their price target on Synopsys from $645.00 to $661.00 and gave the stock an “outperform” rating in a report on Tuesday. Rosenblatt Securities restated a “buy” rating and issued a $615.00 price target on shares of Synopsys in a report on Thursday, May 23rd. Finally, KeyCorp upped their price target on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, Synopsys presently has an average rating of “Buy” and an average target price of $625.82.

Synopsys Price Performance

NASDAQ:SNPS traded down $2.67 during trading hours on Thursday, reaching $606.99. 491,508 shares of the company traded hands, compared to its average volume of 790,976. The firm’s 50-day moving average is $573.27 and its 200-day moving average is $557.04. The stock has a market cap of $93.00 billion, a P/E ratio of 65.98, a P/E/G ratio of 3.93 and a beta of 1.07. Synopsys, Inc. has a 1-year low of $418.51 and a 1-year high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 EPS for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.50 billion. Synopsys had a net margin of 23.05% and a return on equity of 22.66%. Synopsys’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.76 EPS. As a group, research analysts predict that Synopsys, Inc. will post 9.66 earnings per share for the current 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.