UMB Bank n.a. Lowers Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

UMB Bank n.a. reduced its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 81.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,810 shares of the semiconductor company’s stock after selling 12,264 shares during the period. UMB Bank n.a.’s holdings in Synopsys were worth $1,423,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. ORG Partners LLC boosted its holdings in Synopsys by 600.0% in the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 36 shares during the period. Chris Bulman Inc purchased a new position in Synopsys in the second quarter valued at $30,000. Pacifica Partners Inc. purchased a new position in Synopsys in the third quarter valued at $25,000. University of Texas Texas AM Investment Managment Co. purchased a new position in Synopsys in the fourth quarter valued at $28,000. Finally, Fortitude Family Office LLC boosted its holdings in Synopsys by 66.7% in the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 24 shares during the period. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on SNPS shares. JPMorgan Chase & Co. lifted their target price on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. KeyCorp lifted their target price on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Needham & Company LLC restated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Thursday, August 22nd. Robert W. Baird raised their price target on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Finally, Piper Sandler restated an “overweight” rating and issued a $687.00 price target on shares of Synopsys in a research note on Thursday, August 22nd. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $642.22.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the sale, the chief executive officer now owns 62,568 shares in the company, valued at approximately $34,655,789.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Sassine Ghazi sold 10,293 shares of the business’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 transaction, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Geus Aart De sold 493 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $620.60, for a total value of $305,955.80. Following the completion of the transaction, the insider now owns 106,983 shares in the company, valued at $66,393,649.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Synopsys Stock Performance

SNPS opened at $539.92 on Friday. The business’s 50-day simple moving average is $510.15 and its 200-day simple moving average is $550.32. Synopsys, Inc. has a one year low of $448.91 and a one year high of $629.38. The stock has a market capitalization of $82.72 billion, a P/E ratio of 58.69, a price-to-earnings-growth ratio of 3.49 and a beta of 1.08.

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