Brown Brothers Harriman & Co. Sells 51 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Brown Brothers Harriman & Co. trimmed its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 8.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 562 shares of the semiconductor company’s stock after selling 51 shares during the period. Brown Brothers Harriman & Co.’s holdings in Synopsys were worth $334,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. ORG Partners LLC grew its stake in Synopsys by 600.0% in the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 36 shares during the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new position in Synopsys in the 4th quarter valued at $28,000. Chris Bulman Inc acquired a new position in Synopsys in the 2nd quarter valued at $30,000. Jones Financial Companies Lllp grew its stake in 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 last quarter. Finally, Fortitude Family Office LLC grew its stake in Synopsys by 66.7% in the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 24 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Insider Activity at Synopsys

In related news, insider Geus Aart De sold 4,212 shares of Synopsys stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $600.05, for a total transaction of $2,527,410.60. Following the completion of the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $64,195,149.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the completion of the transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Geus Aart De sold 4,212 shares of Synopsys stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $600.05, for a total transaction of $2,527,410.60. Following the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at $64,195,149.15. The disclosure for this sale can be found here. Insiders sold 73,687 shares of company stock valued at $44,616,637 in the last ninety days. Insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on SNPS. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research note on Friday, August 23rd. Robert W. Baird raised their price target on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. KeyCorp raised their price target on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. JPMorgan Chase & Co. raised their price target on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research report on Thursday, August 22nd. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Synopsys has a consensus rating of “Buy” and an average price target of $630.09.

Synopsys Stock Performance

Shares of Synopsys stock opened at $495.95 on Thursday. The firm’s 50-day simple moving average is $530.00 and its 200-day simple moving average is $557.62. Synopsys, Inc. has a twelve month low of $440.62 and a twelve month high of $629.38. The firm has a market cap of $75.99 billion, a P/E ratio of 53.91, a price-to-earnings-growth ratio of 3.23 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the business earned $2.17 EPS. The firm’s revenue was up 12.7% on a year-over-year basis. On average, equities analysts forecast that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

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.