Commerce Bank Lowers Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Commerce Bank decreased its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 2.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,386 shares of the semiconductor company’s stock after selling 699 shares during the quarter. Commerce Bank’s holdings in Synopsys were worth $4,041,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Hudock Inc. raised its holdings in shares of Synopsys by 625.0% during the first quarter. Hudock Inc. now owns 203 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 175 shares during the last quarter. Pearl River Capital LLC acquired a new position in shares of Synopsys during the first quarter valued at approximately $29,000. Lion Street Advisors LLC acquired a new position in shares of Synopsys during the first quarter valued at approximately $34,000. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Synopsys by 4,614.3% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 330 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 323 shares during the last quarter. Finally, First Manhattan Co. acquired a new position in shares of Synopsys during the first quarter valued at approximately $52,000. 87.30% of the stock is owned by institutional investors.

In other news, Director Bruce R. Chizen sold 25,000 shares of the firm’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $153.63, for a total transaction of $3,840,750.00. Following the completion of the transaction, the director now directly owns 13,165 shares in the company, valued at $2,022,538.95. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Trac Pham sold 5,000 shares of the firm’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $146.67, for a total value of $733,350.00. Following the transaction, the chief financial officer now owns 6,704 shares of the company’s stock, valued at $983,275.68. The disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock valued at $5,886,250 over the last quarter. 1.84% of the stock is currently owned by company insiders.

SNPS has been the subject of a number of research analyst reports. BidaskClub raised Synopsys from a “buy” rating to a “strong-buy” rating in a report on Friday, February 14th. Atlantic Securities assumed coverage on Synopsys in a research report on Tuesday, February 18th. They issued an “overweight” rating and a $200.00 price target for the company. Royal Bank of Canada upped their price target on Synopsys from $178.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday. Needham & Company LLC restated a “buy” rating and issued a $175.00 price target on shares of Synopsys in a research report on Thursday, April 9th. Finally, Cfra dropped their price target on Synopsys from $163.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $181.69.

Shares of Synopsys stock opened at $171.11 on Friday. The firm has a market capitalization of $25.36 billion, a price-to-earnings ratio of 54.88, a PEG ratio of 3.01 and a beta of 1.14. Synopsys, Inc. has a fifty-two week low of $104.90 and a fifty-two week high of $171.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 0.95. The stock has a 50 day moving average of $149.46 and a 200 day moving average of $142.90.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, May 20th. The semiconductor company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.23. The company had revenue of $861.33 million during the quarter, compared to analyst estimates of $836.52 million. Synopsys had a return on equity of 11.53% and a net margin of 13.96%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.16 earnings per share. Analysts forecast that Synopsys, Inc. will post 3.79 EPS for the current year.

About Synopsys

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits (ICs). It offers Fusion Design Platform, a digital design implementation solution; Verification Continuum Platform, which provides 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.

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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