Chevy Chase Trust Holdings LLC Increases Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Chevy Chase Trust Holdings LLC grew its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 0.6% during the first quarter, Holdings Channel reports. The firm owned 81,371 shares of the semiconductor company’s stock after purchasing an additional 456 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Synopsys were worth $34,896,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Dynamic Advisor Solutions LLC acquired a new stake in Synopsys during the 1st quarter worth approximately $1,000,000. Bancreek Capital Management LP purchased a new stake in shares of Synopsys during the fourth quarter worth $3,827,000. Cullen Frost Bankers Inc. raised its stake in shares of Synopsys by 5.4% in the fourth quarter. Cullen Frost Bankers Inc. now owns 15,319 shares of the semiconductor company’s stock valued at $7,435,000 after acquiring an additional 791 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Synopsys by 3.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 20,172 shares of the semiconductor company’s stock valued at $8,651,000 after purchasing an additional 655 shares during the period. Finally, Andra AP fonden grew its stake in Synopsys by 61.1% during the 4th quarter. Andra AP fonden now owns 11,600 shares of the semiconductor company’s stock worth $5,630,000 after purchasing an additional 4,400 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of SNPS opened at $478.98 on Wednesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.02 and a quick ratio of 6.85. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $624.80. The stock has a market cap of $74.32 billion, a PE ratio of 34.58, a price-to-earnings-growth ratio of 3.11 and a beta of 1.11. The firm has a fifty day moving average price of $474.47 and a 200 day moving average price of $477.62.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.40 by $0.27. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the business earned $3.00 EPS. As a group, sell-side analysts anticipate that Synopsys, Inc. will post 10.64 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SNPS shares. Mizuho decreased their price objective on Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. KeyCorp set a $540.00 price target on shares of Synopsys in a research note on Tuesday, June 3rd. Rosenblatt Securities dropped their price objective on shares of Synopsys from $660.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, May 29th. Stifel Nicolaus set a $550.00 price objective on shares of Synopsys in a report on Monday, April 28th. Finally, Bank of America dropped their target price on Synopsys from $630.00 to $560.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $607.14.

Insider Activity

In other Synopsys news, CFO Shelagh Glaser sold 7,310 shares of Synopsys stock in a transaction on Friday, June 6th. The shares were sold at an average price of $485.72, for a total value of $3,550,613.20. Following the transaction, the chief financial officer now directly owns 15,291 shares in the company, valued at approximately $7,427,144.52. The trade was a 32.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sassine Ghazi sold 11,366 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the sale, the chief executive officer now owns 71,589 shares of the company’s stock, valued at $32,782,750.77. This trade represents a 13.70% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,686 shares of company stock valued at $13,001,048. 0.62% of the stock is currently owned by company insiders.

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.