Custom Index Systems LLC Trims Stake in Synopsys, Inc. (NASDAQ:SNPS)

Custom Index Systems LLC cut its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 38.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,199 shares of the semiconductor company’s stock after selling 744 shares during the period. Custom Index Systems LLC’s holdings in Synopsys were worth $713,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SNPS. Coldstream Capital Management Inc. lifted its stake in Synopsys by 0.8% in the fourth quarter. Coldstream Capital Management Inc. now owns 2,195 shares of the semiconductor company’s stock worth $1,130,000 after purchasing an additional 18 shares during the last quarter. Andina Capital Management LLC grew its stake in shares of Synopsys by 2.8% during the second quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock valued at $395,000 after buying an additional 18 shares during the last quarter. Cascade Financial Partners LLC raised its holdings in shares of Synopsys by 4.9% in the second quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock worth $232,000 after buying an additional 18 shares during the period. Hazlett Burt & Watson Inc. lifted its stake in shares of Synopsys by 40.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 20 shares during the last quarter. Finally, Ignite Planners LLC boosted its holdings in Synopsys by 3.5% during the 1st quarter. Ignite Planners LLC now owns 596 shares of the semiconductor company’s stock valued at $344,000 after acquiring an additional 20 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Synopsys news, insider Geus Aart De sold 493 shares of Synopsys stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $620.60, for a total value of $305,955.80. Following the transaction, the insider now owns 106,983 shares in the company, valued at $66,393,649.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Geus Aart De sold 493 shares of the 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 sale, the insider now owns 106,983 shares of the company’s stock, valued at $66,393,649.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the completion of the sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The disclosure for this sale can be found here. Insiders sold 74,623 shares of company stock worth $45,147,321 in the last three months. 0.66% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SNPS. Piper Sandler reiterated an “overweight” rating and issued a $687.00 target price on shares of Synopsys in a research note on Thursday, August 22nd. KeyCorp raised their price target 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. Needham & Company LLC reissued a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research report on Thursday, August 22nd. Robert W. Baird upped their target price on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 price target on shares of Synopsys in a research note on Friday, August 23rd. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $630.09.

Synopsys Stock Performance

NASDAQ:SNPS opened at $463.97 on Friday. The firm has a 50-day simple moving average of $550.05 and a 200-day simple moving average of $562.51. Synopsys, Inc. has a one year low of $440.62 and a one year high of $629.38. The firm has a market cap of $71.27 billion, a P/E ratio of 50.43, a P/E/G ratio of 3.15 and a beta of 1.08.

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