Synopsys, Inc. (NASDAQ:SNPS) Position Decreased by Amalgamated Bank

Amalgamated Bank trimmed its position in Synopsys, Inc. (NASDAQ:SNPS – Get Rating) by 5.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,898 shares of the semiconductor company’s stock after selling 2,414 shares during the quarter. Amalgamated Bank’s holdings in Synopsys were worth $13,378,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Kistler Tiffany Companies LLC acquired a new stake in shares of Synopsys during the fourth quarter worth approximately $32,000. Altshuler Shaham Ltd bought a new position in Synopsys during the third quarter valued at approximately $35,000. Raleigh Capital Management Inc. raised its position in Synopsys by 78.6% during the fourth quarter. Raleigh Capital Management Inc. now owns 125 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 55 shares in the last quarter. TCI Wealth Advisors Inc. raised its position in Synopsys by 166.2% during the fourth quarter. TCI Wealth Advisors Inc. now owns 173 shares of the semiconductor company’s stock valued at $55,000 after acquiring an additional 108 shares in the last quarter. Finally, Glass Jacobson Investment Advisors llc bought a new position in Synopsys during the fourth quarter valued at approximately $57,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Trading Up 3.1 %

Shares of Synopsys stock traded up $13.46 during trading on Friday, reaching $447.66. The company’s stock had a trading volume of 582,754 shares, compared to its average volume of 785,989. The stock has a 50-day moving average price of $378.67 and a two-hundred day moving average price of $354.04. Synopsys, Inc. has a one year low of $267.00 and a one year high of $450.00. The stock has a market capitalization of $68.12 billion, a P/E ratio of 73.86, a price-to-earnings-growth ratio of 3.51 and a beta of 1.18.

Synopsys (NASDAQ:SNPS – Get Rating) last announced its quarterly earnings data on Wednesday, May 17th. The semiconductor company reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.07. The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Synopsys had a return on equity of 16.29% and a net margin of 17.41%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.89 EPS. As a group, sell-side analysts anticipate that Synopsys, Inc. will post 7.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Needham & Company LLC lifted their price target on shares of Synopsys from $420.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, February 16th. Wells Fargo & Company boosted their target price on shares of Synopsys from $410.00 to $420.00 in a research report on Thursday, May 18th. Robert W. Baird boosted their target price on shares of Synopsys from $445.00 to $447.00 in a research report on Thursday, May 18th. StockNews.com assumed coverage on shares of Synopsys in a research report on Thursday, May 18th. They set a “buy” rating on the stock. Finally, Rosenblatt Securities lifted their price target on shares of Synopsys from $420.00 to $448.00 in a research note on Thursday, May 18th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $434.70.

Insider Activity at Synopsys

In other Synopsys news, CAO Sudhindra Kankanwadi sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 4th. The stock was sold at an average price of $391.43, for a total transaction of $1,565,720.00. Following the completion of the transaction, the chief accounting officer now owns 16,758 shares of the company’s stock, valued at approximately $6,559,583.94. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CAO Sudhindra Kankanwadi sold 4,000 shares of the stock in a transaction that occurred on Tuesday, April 4th. The stock was sold at an average price of $391.43, for a total value of $1,565,720.00. Following the completion of the sale, the chief accounting officer now owns 16,758 shares of the company’s stock, valued at approximately $6,559,583.94. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John F. Runkel, Jr. sold 2,142 shares of the stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $413.03, for a total value of $884,710.26. Following the completion of the sale, the insider now directly owns 25,147 shares of the company’s stock, valued at approximately $10,386,465.41. The disclosure for this sale can be found here. 0.69% of the stock is owned by insiders.

About Synopsys

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Synopsys, Inc engages in the provision of software products and consulting services in the electronic design automation industry. It operates through the following segments: Semiconductor and System Design, and Software Integrity. The Semiconductor and System Design segment includes the EDA, IP and System Integration.