Axa S.A. Sells 36,565 Shares of Synopsys, Inc. $SNPS

Axa S.A. cut its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 38.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,389 shares of the semiconductor company’s stock after selling 36,565 shares during the period. Axa S.A.’s holdings in Synopsys were worth $29,422,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SNPS. Independence Bank of Kentucky grew its holdings in Synopsys by 120.0% during the second quarter. Independence Bank of Kentucky now owns 55 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 30 shares during the last quarter. Saudi Central Bank bought a new stake in shares of Synopsys during the 1st quarter worth $26,000. Princeton Global Asset Management LLC grew its stake in Synopsys by 481.8% in the 2nd quarter. Princeton Global Asset Management LLC now owns 64 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 53 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd raised its holdings in Synopsys by 441.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 53 shares during the period. Finally, AlphaQuest LLC raised its holdings in Synopsys by 423.1% in the 2nd quarter. AlphaQuest LLC now owns 68 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 55 shares during the period. 85.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SNPS has been the subject of several research analyst reports. Robert W. Baird reissued a “neutral” rating and set a $535.00 price objective (down previously from $670.00) on shares of Synopsys in a research report on Wednesday, September 10th. Stifel Nicolaus cut their target price on Synopsys from $650.00 to $550.00 and set a “buy” rating for the company in a research note on Wednesday, September 10th. Bank of America upgraded Synopsys from an “underperform” rating to a “neutral” rating and dropped their price objective for the stock from $525.00 to $500.00 in a research note on Monday. Wall Street Zen downgraded Synopsys from a “hold” rating to a “sell” rating in a report on Saturday, September 13th. Finally, BNP Paribas initiated coverage on shares of Synopsys in a report on Thursday, October 2nd. They set an “underperform” rating and a $425.00 price objective on the stock. Eleven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $550.67.

Insider Buying and Selling at Synopsys

In other news, CAO Sudhindra Kankanwadi sold 9,873 shares of the business’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $500.90, for a total value of $4,945,385.70. Following the sale, the chief accounting officer directly owned 20,520 shares in the company, valued at $10,278,468. The trade was a 32.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert G. Painter acquired 350 shares of Synopsys stock in a transaction dated Thursday, September 11th. The shares were purchased at an average cost of $425.44 per share, with a total value of $148,904.00. Following the completion of the transaction, the director directly owned 2,291 shares of the company’s stock, valued at $974,683.04. This trade represents a 18.03% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.62% of the stock is owned by corporate insiders.

Synopsys Stock Performance

SNPS stock opened at $465.85 on Wednesday. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $651.73. The company has a current ratio of 1.62, a quick ratio of 1.51 and a debt-to-equity ratio of 0.52. The firm has a market cap of $86.53 billion, a PE ratio of 36.57, a P/E/G ratio of 5.34 and a beta of 1.16. The business’s 50-day moving average price is $436.17 and its two-hundred day moving average price is $504.88.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Tuesday, September 9th. The semiconductor company reported $2.30 earnings per share for the quarter, missing the consensus estimate of $3.75 by ($1.45). Synopsys had a net margin of 31.04% and a return on equity of 10.82%. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the firm earned $3.43 EPS. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. As a group, research analysts forecast that Synopsys, Inc. will post 10.64 earnings per share for the current 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.