University of Texas Texas AM Investment Management Co. Lowers Holdings in Synopsys, Inc. (NASDAQ:SNPS)

University of Texas Texas AM Investment Management Co. decreased its position in Synopsys, Inc. (NASDAQ:SNPS) by 8.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,806 shares of the semiconductor company’s stock after selling 167 shares during the period. University of Texas Texas AM Investment Management Co.’s holdings in Synopsys were worth $1,075,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Kingsview Wealth Management LLC purchased a new stake in shares of Synopsys during the first quarter valued at approximately $239,000. Concurrent Investment Advisors LLC bought a new stake in shares of Synopsys in the 1st quarter worth $218,000. Bridgefront Capital LLC purchased a new position in shares of Synopsys in the fourth quarter worth $951,000. Vanguard Group Inc. lifted its holdings in shares of Synopsys by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 13,551,092 shares of the semiconductor company’s stock valued at $6,977,593,000 after purchasing an additional 203,601 shares in the last quarter. Finally, Axxcess Wealth Management LLC lifted its holdings in shares of Synopsys by 44.9% during the first quarter. Axxcess Wealth Management LLC now owns 4,030 shares of the semiconductor company’s stock valued at $2,303,000 after purchasing an additional 1,249 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SNPS has been the subject of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research report on Thursday, August 22nd. Robert W. Baird boosted their price objective on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. raised their target price on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. KeyCorp boosted their target price on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research note on Friday, August 23rd. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, Synopsys presently has a consensus rating of “Buy” and an average price target of $638.00.

Synopsys Stock Performance

NASDAQ:SNPS opened at $495.56 on Wednesday. The stock has a 50-day simple moving average of $515.05 and a two-hundred day simple moving average of $553.60. The firm has a market capitalization of $76.12 billion, a PE ratio of 53.87, a P/E/G ratio of 3.39 and a beta of 1.08. Synopsys, Inc. has a 52-week low of $448.26 and a 52-week high of $629.38.

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

Insider Transactions at Synopsys

In related news, 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 transaction, the insider now owns 106,983 shares in the company, valued at approximately $66,393,649.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Synopsys news, insider Geus Aart De sold 493 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $620.60, for a total transaction of $305,955.80. Following the sale, the insider now directly owns 106,983 shares of the company’s stock, valued at $66,393,649.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 52,635 shares of company stock valued at $31,921,800 over the last three months. Corporate insiders own 0.66% of the company’s stock.

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.