UMB Bank n.a. Decreases Holdings in Synopsys, Inc. (NASDAQ:SNPS)

UMB Bank n.a. trimmed its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 49.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 946 shares of the semiconductor company’s stock after selling 917 shares during the period. UMB Bank n.a.’s holdings in Synopsys were worth $406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC lifted its holdings in shares of Synopsys by 5.7% in the 4th quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company’s stock valued at $447,000 after purchasing an additional 50 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of Synopsys in the 4th quarter valued at about $17,162,000. Stratos Wealth Partners LTD. lifted its holdings in shares of Synopsys by 14.1% in the 4th quarter. Stratos Wealth Partners LTD. now owns 534 shares of the semiconductor company’s stock valued at $259,000 after purchasing an additional 66 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Synopsys in the 4th quarter valued at about $70,000. Finally, Kingsview Wealth Management LLC lifted its holdings in shares of Synopsys by 18.5% in the 4th quarter. Kingsview Wealth Management LLC now owns 563 shares of the semiconductor company’s stock valued at $273,000 after purchasing an additional 88 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, 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 value of $5,204,832.38. Following the completion of the transaction, the chief executive officer now directly owns 71,589 shares of the company’s stock, valued at $32,782,750.77. This trade represents a 13.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 value of $3,550,613.20. Following the completion of the transaction, the chief financial officer now directly owns 15,291 shares of the company’s stock, valued at $7,427,144.52. The trade was a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wells Fargo & Company reduced their target price on Synopsys from $540.00 to $520.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Rosenblatt Securities reduced their price objective on Synopsys from $660.00 to $625.00 and set a “buy” rating for the company in a research note on Thursday, May 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $650.00 price objective on shares of Synopsys in a research note on Thursday, May 29th. Piper Sandler reaffirmed an “overweight” rating and set a $615.00 price objective (down from $653.00) on shares of Synopsys in a research note on Thursday, May 29th. Finally, KeyCorp set a $540.00 price objective on Synopsys in a research note on Tuesday, June 3rd. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $607.14.

Synopsys Trading Up 1.7%

NASDAQ SNPS opened at $504.40 on Wednesday. The business’s 50 day moving average is $459.83 and its two-hundred day moving average is $482.68. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $624.80. The stock has a market capitalization of $78.26 billion, a price-to-earnings ratio of 34.74, a PEG ratio of 3.23 and a beta of 1.11.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.27. Synopsys had a return on equity of 20.48% and a net margin of 36.12%. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the previous year, the firm posted $3.00 EPS. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. Equities analysts forecast that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

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.