Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lessened its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 4.1% during the first quarter, Holdings Channel.com reports. The fund owned 21,706 shares of the semiconductor company’s stock after selling 930 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Synopsys were worth $12,405,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNPS. Raymond James Financial Services Advisors Inc. grew its holdings in Synopsys by 0.5% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 8,140 shares of the semiconductor company’s stock worth $4,191,000 after acquiring an additional 40 shares during the period. Ritholtz Wealth Management raised its holdings in shares of Synopsys by 20.0% in the 4th quarter. Ritholtz Wealth Management now owns 1,899 shares of the semiconductor company’s stock worth $978,000 after purchasing an additional 316 shares in the last quarter. Blue Trust Inc. lifted its stake in Synopsys by 36.5% during the fourth quarter. Blue Trust Inc. now owns 531 shares of the semiconductor company’s stock valued at $273,000 after purchasing an additional 142 shares during the last quarter. Caprock Group LLC boosted its holdings in Synopsys by 3.1% during the fourth quarter. Caprock Group LLC now owns 1,638 shares of the semiconductor company’s stock worth $844,000 after buying an additional 50 shares in the last quarter. Finally, Quent Capital LLC grew its position in Synopsys by 4.7% in the fourth quarter. Quent Capital LLC now owns 1,192 shares of the semiconductor company’s stock worth $614,000 after buying an additional 54 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling

In other Synopsys news, insider Geus Aart De sold 493 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $620.60, for a total value of $305,955.80. Following the transaction, the insider now owns 106,983 shares in the company, valued at $66,393,649.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider John F. Runkel, Jr. sold 1,239 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $582.90, for a total transaction of $722,213.10. Following the transaction, the insider now owns 20,000 shares in the company, valued at approximately $11,658,000. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Geus Aart De sold 493 shares of Synopsys stock in a transaction on Monday, July 15th. The shares were sold at an average price of $620.60, for a total transaction of $305,955.80. Following the completion of the sale, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $66,393,649.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,363 shares of company stock worth $49,361,263. Corporate insiders own 0.66% of the company’s stock.

Synopsys Price Performance

NASDAQ SNPS opened at $547.52 on Tuesday. The firm has a market capitalization of $83.89 billion, a price-to-earnings ratio of 59.51, a price-to-earnings-growth ratio of 3.53 and a beta of 1.07. The company has a 50 day simple moving average of $588.60 and a 200-day simple moving average of $566.54. Synopsys, Inc. has a 52-week low of $418.51 and a 52-week high of $629.38.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data 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). The company had revenue of $1.45 billion during 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%. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.76 EPS. On average, analysts predict that Synopsys, Inc. will post 9.66 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Robert W. Baird increased their price target on Synopsys from $645.00 to $661.00 and gave the company an “outperform” rating in a research report on Tuesday, July 2nd. Rosenblatt Securities reissued a “buy” rating and issued a $615.00 price target on shares of Synopsys in a research note on Thursday, May 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research note on Thursday, May 23rd. Finally, KeyCorp lifted their target price 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. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $627.18.

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.