Altfest L J & Co. Inc. Sells 1,274 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Altfest L J & Co. Inc. decreased its position in Synopsys, Inc. (NASDAQ:SNPS) by 72.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 491 shares of the semiconductor company’s stock after selling 1,274 shares during the quarter. Altfest L J & Co. Inc.’s holdings in Synopsys were worth $211,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. GAMMA Investing LLC grew its holdings in Synopsys by 54,286.0% during the 1st quarter. GAMMA Investing LLC now owns 1,196,492 shares of the semiconductor company’s stock worth $513,116,000 after acquiring an additional 1,194,292 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Synopsys by 21.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company’s stock worth $2,864,933,000 after acquiring an additional 1,045,326 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in Synopsys by 38.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,432,596 shares of the semiconductor company’s stock worth $1,043,518,000 after acquiring an additional 673,837 shares during the last quarter. Capital Research Global Investors bought a new stake in Synopsys during the 4th quarter worth about $239,864,000. Finally, Ameriprise Financial Inc. grew its holdings in Synopsys by 26.2% during the 4th quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company’s stock worth $916,441,000 after acquiring an additional 391,681 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Stock Performance

Shares of NASDAQ:SNPS opened at $619.42 on Friday. The company has a market capitalization of $96.11 billion, a price-to-earnings ratio of 44.72, a P/E/G ratio of 4.10 and a beta of 1.15. The firm’s 50 day simple moving average is $544.48 and its 200 day simple moving average is $495.09. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85. Synopsys, Inc. has a fifty-two week low of $365.74 and a fifty-two week high of $651.73.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, topping the consensus estimate of $3.40 by $0.27. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.60 billion. Synopsys had a net margin of 34.77% and a return on equity of 17.09%. The business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the company posted $3.00 EPS. As a group, sell-side analysts forecast that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Insiders Place Their Bets

In other Synopsys news, CFO Shelagh Glaser sold 7,310 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $485.72, for a total transaction of $3,550,613.20. Following the sale, the chief financial officer directly owned 15,291 shares in the company, valued at approximately $7,427,144.52. This trade represents a 32.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the sale, the chief executive officer owned 71,589 shares in the company, valued at $32,782,750.77. This trade represents a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,686 shares of company stock worth $13,001,048. Company insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Mizuho dropped their price objective on Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. KeyCorp raised their target price on shares of Synopsys from $540.00 to $610.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. The Goldman Sachs Group began coverage on shares of Synopsys in a research note on Thursday, July 10th. They issued a “buy” rating and a $620.00 target price on the stock. Piper Sandler raised their target price on shares of Synopsys from $615.00 to $660.00 and gave the company an “overweight” rating in a research note on Monday, July 21st. Finally, Stifel Nicolaus set a $550.00 target price on shares of Synopsys in a research note on Monday, April 28th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $622.33.

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.