Capital Investment Counsel Inc Has $1.49 Million Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Capital Investment Counsel Inc cut its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 13.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,510 shares of the semiconductor company’s stock after selling 400 shares during the period. Capital Investment Counsel Inc’s holdings in Synopsys were worth $1,494,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SNPS. International Assets Investment Management LLC raised its position in shares of Synopsys by 52,466.9% in the fourth quarter. International Assets Investment Management LLC now owns 176,099 shares of the semiconductor company’s stock valued at $90,675,000 after buying an additional 175,764 shares in the last quarter. SVB Wealth LLC raised its position in shares of Synopsys by 11.6% in the fourth quarter. SVB Wealth LLC now owns 1,388 shares of the semiconductor company’s stock valued at $715,000 after buying an additional 144 shares in the last quarter. Western Wealth Management LLC acquired a new stake in shares of Synopsys in the fourth quarter valued at approximately $240,000. Fidelis Capital Partners LLC raised its position in shares of Synopsys by 5.4% in the fourth quarter. Fidelis Capital Partners LLC now owns 837 shares of the semiconductor company’s stock valued at $431,000 after buying an additional 43 shares in the last quarter. Finally, Greenleaf Trust raised its position in shares of Synopsys by 1.1% in the fourth quarter. Greenleaf Trust now owns 6,026 shares of the semiconductor company’s stock valued at $3,103,000 after buying an additional 64 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Synopsys news, insider Geus Aart De sold 493 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 106,983 shares in the company, valued at approximately $66,393,649.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction on Friday, May 24th. The shares were sold at an average price of $582.41, for a total value of $5,995,328.54. Following the completion of the sale, the chief executive officer now owns 62,568 shares in the company, valued at approximately $36,440,228.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 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. In the last 90 days, insiders sold 81,363 shares of company stock worth $49,361,263. 0.66% of the stock is currently owned by insiders.

Synopsys Stock Down 0.2 %

Shares of NASDAQ SNPS traded down $1.19 during trading on Tuesday, reaching $557.03. The company had a trading volume of 703,183 shares, compared to its average volume of 1,064,793. The stock has a market cap of $85.35 billion, a P/E ratio of 60.55, a PEG ratio of 3.42 and a beta of 1.07. The company’s fifty day moving average price is $573.18 and its 200-day moving average price is $566.67. Synopsys, Inc. has a 12 month low of $427.63 and a 12 month high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 EPS 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 company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the company earned $1.76 earnings per share. The business’s revenue was up 15.2% on a year-over-year basis. As a group, equities analysts predict that Synopsys, Inc. will post 9.66 earnings per share for the current year.

Analysts Set New Price Targets

SNPS has been the topic of a number of recent analyst reports. Robert W. Baird lifted their price objective on shares of Synopsys from $645.00 to $661.00 and gave the company an “outperform” rating in a research note on Tuesday, July 2nd. Piper Sandler lifted their price objective on shares of Synopsys from $672.00 to $687.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Needham & Company LLC reissued a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research note on Thursday, May 23rd. KeyCorp boosted their target price on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, Synopsys presently has an average rating of “Buy” and an average target price of $629.00.

Synopsys 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.