Diversified Trust Co Lowers Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Diversified Trust Co lowered its position in Synopsys, Inc. (NASDAQ:SNPS) by 37.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,574 shares of the semiconductor company’s stock after selling 2,100 shares during the period. Diversified Trust Co’s holdings in Synopsys were worth $2,043,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of Synopsys in the 4th quarter valued at approximately $28,000. Jones Financial Companies Lllp grew its stake in shares of Synopsys by 233.3% in the 4th quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 42 shares during the period. WD Rutherford LLC purchased a new stake in shares of Synopsys in the 1st quarter valued at approximately $40,000. Rise Advisors LLC purchased a new stake in shares of Synopsys in the 1st quarter valued at approximately $46,000. Finally, Quarry LP grew its stake in shares of Synopsys by 63.1% in the 4th quarter. Quarry LP now owns 106 shares of the semiconductor company’s stock valued at $55,000 after buying an additional 41 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Performance

Synopsys stock traded up $0.96 during midday trading on Monday, hitting $596.02. 171,588 shares of the company’s stock were exchanged, compared to its average volume of 1,093,433. Synopsys, Inc. has a 12-month low of $418.51 and a 12-month high of $629.38. The stock has a market cap of $91.32 billion, a price-to-earnings ratio of 64.36, a price-to-earnings-growth ratio of 3.84 and a beta of 1.07. The firm’s 50 day simple moving average is $569.90 and its 200 day simple moving average is $556.31.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share for the quarter, missing the consensus estimate of $3.03 by ($0.03). Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the firm earned $1.76 EPS. The firm’s revenue was up 15.2% on a year-over-year basis. On average, equities research analysts forecast that Synopsys, Inc. will post 9.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SNPS shares. JPMorgan Chase & Co. increased their price objective on shares of Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Robert W. Baird increased their price objective on shares of Synopsys from $640.00 to $645.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. Rosenblatt Securities reiterated a “buy” rating and set a $615.00 target price on shares of Synopsys in a report on Thursday, May 23rd. Needham & Company LLC reiterated a “buy” rating and set a $660.00 target price on shares of Synopsys in a report on Thursday, May 23rd. Finally, Piper Sandler restated an “overweight” rating and issued a $672.00 price objective (up from $665.00) on shares of Synopsys in a report on Thursday, May 23rd. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $624.36.

Insider Activity at Synopsys

In related news, insider John F. Runkel, Jr. sold 936 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $566.97, for a total value of $530,683.92. Following the completion of the sale, the insider now owns 20,000 shares in the company, valued at $11,339,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Synopsys news, insider John F. Runkel, Jr. sold 5,319 shares of Synopsys stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the completion of the transaction, the insider now owns 20,000 shares in the company, valued at $11,587,400. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John F. Runkel, Jr. sold 936 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $566.97, for a total transaction of $530,683.92. Following the completion of the transaction, the insider now directly owns 20,000 shares of the company’s stock, valued at approximately $11,339,400. The disclosure for this sale can be found here. Insiders sold 35,658 shares of company stock worth $20,970,824 over the last 90 days. Company insiders own 0.66% 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.