Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,858 shares of the semiconductor company’s stock after selling 500 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Synopsys were worth $8,087,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of SNPS. Ameriflex Group Inc. acquired a new position in shares of Synopsys in the 4th quarter worth approximately $29,000. Cornerstone Planning Group LLC lifted 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 purchasing an additional 44 shares during the last quarter. Cloud Capital Management LLC bought a new stake in shares of Synopsys in the 1st quarter worth approximately $36,000. GoalVest Advisory LLC bought a new stake in shares of Synopsys in the 1st quarter worth approximately $50,000. Finally, Washington Trust Advisors Inc. lifted its holdings in shares of Synopsys by 25.0% in the 1st quarter. Washington Trust Advisors Inc. now owns 125 shares of the semiconductor company’s stock worth $54,000 after purchasing an additional 25 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

SNPS has been the topic of several recent research reports. The Goldman Sachs Group initiated coverage on Synopsys in a report on Thursday, July 10th. They issued a “buy” rating and a $620.00 price target on the stock. Mizuho cut their price target on Synopsys from $650.00 to $600.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. KeyCorp lifted their target price on Synopsys from $540.00 to $610.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Piper Sandler lifted their target price on Synopsys from $615.00 to $660.00 and gave the company an “overweight” rating in a research note on Monday, July 21st. Finally, Rosenblatt Securities lifted their target price on Synopsys from $625.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, July 25th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Synopsys currently has a consensus rating of “Moderate Buy” and an average target price of $622.33.

Insider Activity

In other news, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction 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 transaction, the chief executive officer owned 71,589 shares in the company, valued at approximately $32,782,750.77. The trade was a 13.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Richard S. Mahoney sold 9,010 shares of Synopsys stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $471.21, for a total value of $4,245,602.10. Following the transaction, the executive owned 1,485 shares in the company, valued at $699,746.85. This represents a 85.85% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,686 shares of company stock worth $13,001,048. 0.62% of the stock is owned by corporate insiders.

Synopsys Stock Performance

Shares of NASDAQ SNPS opened at $625.88 on Thursday. The company has a quick ratio of 6.85, a current ratio of 7.02 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $97.11 billion, a price-to-earnings ratio of 45.19, a PEG ratio of 4.16 and a beta of 1.15. The stock’s fifty day simple moving average is $537.99 and its 200 day simple moving average is $493.82. Synopsys, Inc. has a 52-week low of $365.74 and a 52-week high of $651.73.

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

Synopsys Company 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.