Bank Julius Baer & Co. Ltd Zurich Sells 2,385 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Bank Julius Baer & Co. Ltd Zurich trimmed its position in Synopsys, Inc. (NASDAQ:SNPS) by 7.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,966 shares of the semiconductor company’s stock after selling 2,385 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Synopsys were worth $13,278,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SNPS. Ameriflex Group Inc. bought a new position in shares of Synopsys in the fourth quarter worth approximately $29,000. Cornerstone Planning Group LLC increased its holdings in shares of Synopsys by 275.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company’s stock worth $25,000 after buying an additional 44 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Synopsys in the 4th quarter worth $34,000. Cloud Capital Management LLC purchased a new stake in shares of Synopsys during the 1st quarter valued at $36,000. Finally, Hazlett Burt & Watson Inc. lifted its holdings in shares of Synopsys by 28.6% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 20 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SNPS has been the subject of several recent research reports. Piper Sandler boosted their price target on shares of Synopsys from $615.00 to $660.00 and gave the stock an “overweight” rating in a research note on Monday. Bank of America increased their price objective on Synopsys from $575.00 to $625.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Rosenblatt Securities decreased their target price on shares of Synopsys from $660.00 to $625.00 and set a “buy” rating on the stock in a research note on Thursday, May 29th. Mizuho dropped their price target on shares of Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Finally, Needham & Company LLC restated a “buy” rating and issued a $660.00 price objective (up previously from $650.00) on shares of Synopsys in a research report on Tuesday, July 15th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $620.67.

Insiders Place Their Bets

In other Synopsys news, CFO Shelagh Glaser sold 7,310 shares of Synopsys stock in a transaction 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 directly owned 15,291 shares of the company’s stock, valued at $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 available at this link. Also, CRO Richard S. Mahoney sold 9,010 shares of the company’s stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the sale, the executive owned 1,485 shares in the company, valued at $699,746.85. This represents a 85.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,686 shares of company stock worth $13,001,048 in the last 90 days. 0.62% of the stock is currently owned by corporate insiders.

Synopsys Stock Performance

SNPS stock opened at $615.13 on Wednesday. The stock’s fifty day moving average price is $508.54 and its 200-day moving average price is $482.95. Synopsys, Inc. has a 1 year low of $365.74 and a 1 year high of $617.00. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85. The company has a market cap of $95.44 billion, a P/E ratio of 44.41, a price-to-earnings-growth ratio of 3.91 and a beta of 1.12.

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

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.