Wedmont Private Capital Sells 271 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Wedmont Private Capital lessened its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 8.0% in the first quarter, Holdings Channel reports. The institutional investor owned 3,104 shares of the semiconductor company’s stock after selling 271 shares during the period. Wedmont Private Capital’s holdings in Synopsys were worth $1,307,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its holdings in shares of Synopsys by 5.7% in the 4th quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company’s stock worth $447,000 after purchasing an additional 50 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Synopsys in the 4th quarter worth $17,162,000. Stratos Wealth Partners LTD. increased its holdings in shares of Synopsys by 14.1% in the 4th quarter. Stratos Wealth Partners LTD. now owns 534 shares of the semiconductor company’s stock worth $259,000 after purchasing an additional 66 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Synopsys in the 4th quarter worth $70,000. Finally, Conning Inc. increased its holdings in shares of Synopsys by 5.0% in the 4th quarter. Conning Inc. now owns 816 shares of the semiconductor company’s stock worth $396,000 after purchasing an additional 39 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

SNPS has been the subject of a number of research analyst reports. Bank of America reduced their target price on Synopsys from $630.00 to $560.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Wells Fargo & Company reduced their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Rosenblatt Securities reduced their target price on Synopsys from $660.00 to $625.00 and set a “buy” rating for the company in a report on Thursday, May 29th. Stifel Nicolaus set a $550.00 target price on Synopsys in a report on Monday, April 28th. Finally, KeyCorp set a $540.00 price target on Synopsys in a research note on Tuesday, June 3rd. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $607.14.

Synopsys Price Performance

SNPS stock opened at $486.00 on Monday. The company has a market cap of $75.41 billion, a P/E ratio of 33.47, a price-to-earnings-growth ratio of 3.23 and a beta of 1.11. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $624.80. The stock’s fifty day moving average price is $456.95 and its 200-day moving average price is $483.02.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.40 by $0.27. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.60 billion. Synopsys had a return on equity of 20.48% and a net margin of 36.12%. Synopsys’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.00 earnings per share. As a group, analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the transaction, the chief executive officer now directly owns 71,589 shares in the company, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.62% of the stock is owned by company insiders.

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.