Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA lessened its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 80.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,991 shares of the semiconductor company’s stock after selling 29,105 shares during the period. Union Bancaire Privee UBP SA’s holdings in Synopsys were worth $2,971,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Ameriflex Group Inc. purchased a new position in Synopsys during the 4th quarter worth approximately $29,000. Whipplewood Advisors LLC purchased a new position in shares of Synopsys during the fourth quarter valued at $33,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Synopsys during the fourth quarter valued at $34,000. Sierra Ocean LLC purchased a new stake in Synopsys in the 4th quarter worth about $39,000. Finally, Hazlett Burt & Watson Inc. boosted its position in Synopsys by 28.6% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 20 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Shelagh Glaser sold 7,310 shares of the firm’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $485.72, for a total value of $3,550,613.20. Following the transaction, the chief financial officer now directly owns 15,291 shares in the company, valued at approximately $7,427,144.52. This trade represents a 32.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 completion of the transaction, the chief executive officer now owns 71,589 shares in the company, valued at $32,782,750.77. This trade represents a 13.70% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.62% of the company’s stock.

Synopsys Price Performance

Shares of NASDAQ:SNPS opened at $500.73 on Thursday. The stock has a market capitalization of $77.69 billion, a P/E ratio of 34.49, a P/E/G ratio of 3.23 and a beta of 1.11. The business has a 50-day moving average of $462.08 and a two-hundred day moving average of $482.81. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $624.80.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, beating analysts’ consensus estimates of $3.40 by $0.27. The business 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%. The firm’s revenue was up 10.3% compared to the same quarter last year. During the same period last year, the business earned $3.00 EPS. As a group, research analysts expect that Synopsys, Inc. will post 10.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SNPS. Mizuho reduced their price target on shares of Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Piper Sandler reissued an “overweight” rating and set a $615.00 target price (down previously from $653.00) on shares of Synopsys in a research note on Thursday, May 29th. Stifel Nicolaus set a $550.00 price target on shares of Synopsys in a report on Monday, April 28th. Wells Fargo & Company cut their price objective on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Finally, KeyCorp set a $540.00 target price on Synopsys in a research note on Tuesday, June 3rd. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $607.14.

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.