Massmutual Trust Co. FSB ADV Raises Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Massmutual Trust Co. FSB ADV grew its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 19.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 651 shares of the semiconductor company’s stock after acquiring an additional 105 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Synopsys were worth $387,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in Synopsys by 73.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,592 shares of the semiconductor company’s stock valued at $947,000 after buying an additional 673 shares in the last quarter. Transcend Capital Advisors LLC bought a new position in Synopsys in the 2nd quarter valued at approximately $828,000. Jackson Wealth Management LLC boosted its stake in Synopsys by 8.4% during the 1st quarter. Jackson Wealth Management LLC now owns 7,646 shares of the semiconductor company’s stock valued at $4,370,000 after purchasing an additional 595 shares during the last quarter. American Trust increased its holdings in shares of Synopsys by 2.1% in the 1st quarter. American Trust now owns 1,490 shares of the semiconductor company’s stock worth $852,000 after purchasing an additional 30 shares in the last quarter. Finally, Cypress Asset Management Inc. TX raised its stake in shares of Synopsys by 21.6% in the first quarter. Cypress Asset Management Inc. TX now owns 2,740 shares of the semiconductor company’s stock worth $1,626,000 after purchasing an additional 487 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $582.41, for a total value of $5,995,328.54. Following the completion of the transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $36,440,228.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Geus Aart De sold 5,448 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $620.95, for a total value of $3,382,935.60. Following the sale, the insider now directly owns 106,983 shares in the company, valued at $66,431,093.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $582.41, for a total value of $5,995,328.54. Following the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $36,440,228.88. The disclosure for this sale can be found here. Insiders have sold a total of 81,363 shares of company stock valued at $49,361,263 over the last ninety days. 0.66% of the stock is currently owned by company insiders.

Synopsys Stock Performance

Shares of NASDAQ SNPS traded down $17.94 during trading on Monday, hitting $487.84. The company had a trading volume of 2,050,325 shares, compared to its average volume of 1,076,169. The stock has a 50 day simple moving average of $584.85 and a 200 day simple moving average of $567.42. The firm has a market capitalization of $74.75 billion, a P/E ratio of 52.69, a price-to-earnings-growth ratio of 3.26 and a beta of 1.07. Synopsys, Inc. has a 12 month low of $418.51 and a 12 month high of $629.38.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share for the quarter, missing the consensus estimate of $3.03 by ($0.03). The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Synopsys had a net margin of 23.05% and a return on equity of 22.66%. Synopsys’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.76 EPS. As a group, analysts predict that Synopsys, Inc. will post 9.66 EPS for the current year.

Wall Street Analysts Forecast Growth

SNPS has been the subject of a number of recent analyst reports. Piper Sandler boosted their target price on Synopsys from $672.00 to $687.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Needham & Company LLC restated a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research report on Thursday, May 23rd. Rosenblatt Securities restated a “buy” rating and issued a $615.00 target price on shares of Synopsys in a report on Thursday, May 23rd. Robert W. Baird boosted their target price on shares of Synopsys from $645.00 to $661.00 and gave the company an “outperform” rating in a research note on Tuesday, July 2nd. Finally, KeyCorp raised their price target on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $627.18.

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.