University of Texas Texas AM Investment Management Co. Sells 167 Shares of Synopsys, Inc. (NASDAQ:SNPS)

University of Texas Texas AM Investment Management Co. trimmed its position in Synopsys, Inc. (NASDAQ:SNPS) by 8.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,806 shares of the semiconductor company’s stock after selling 167 shares during the quarter. University of Texas Texas AM Investment Management Co.’s holdings in Synopsys were worth $1,075,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Andina Capital Management LLC raised 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 acquiring an additional 18 shares in the last quarter. Cascade Financial Partners LLC lifted its holdings in shares of Synopsys by 4.9% in the 2nd 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. Ignite Planners LLC lifted its holdings in shares of Synopsys by 3.5% in the 1st quarter. Ignite Planners LLC now owns 596 shares of the semiconductor company’s stock worth $344,000 after buying an additional 20 shares during the period. Monument Capital Management increased its stake in shares of Synopsys by 1.1% during the first quarter. Monument Capital Management now owns 1,880 shares of the semiconductor company’s stock valued at $1,074,000 after buying an additional 20 shares during the period. Finally, Hazlett Burt & Watson Inc. increased its stake in shares of Synopsys by 40.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $40,000 after buying an additional 20 shares during the period. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value of $5,701,189.77. Following the completion of the transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at $34,655,789.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Synopsys news, insider Geus Aart De sold 27,753 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $618.58, for a total transaction of $17,167,450.74. Following the transaction, the insider now owns 106,983 shares in the company, valued at $66,177,544.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 10,293 shares of the business’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 value 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. Over the last quarter, insiders sold 52,635 shares of company stock valued at $31,921,800. Insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. JPMorgan Chase & Co. upped their price target on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Robert W. Baird lifted their price objective on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Needham & Company LLC restated a “buy” rating and set a $640.00 target price on shares of Synopsys in a report on Thursday, August 22nd. Finally, KeyCorp increased their target price on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $638.00.

Synopsys Trading Down 2.1 %

Shares of SNPS stock opened at $495.56 on Wednesday. Synopsys, Inc. has a 12-month low of $448.26 and a 12-month high of $629.38. The business’s fifty day simple moving average is $515.05 and its 200-day simple moving average is $553.60. The company has a market cap of $76.12 billion, a PE ratio of 53.87, a PEG ratio of 3.39 and a beta of 1.08.

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