RMB Capital Management LLC Sells 15,914 Shares of Synopsys, Inc. (NASDAQ:SNPS)

RMB Capital Management LLC decreased its position in Synopsys, Inc. (NASDAQ:SNPS) by 15.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,867 shares of the semiconductor company’s stock after selling 15,914 shares during the quarter. Synopsys makes up approximately 1.4% of RMB Capital Management LLC’s portfolio, making the stock its 11th largest holding. RMB Capital Management LLC owned 0.06% of Synopsys worth $44,729,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Janney Montgomery Scott LLC grew its stake in shares of Synopsys by 73.1% in the third quarter. Janney Montgomery Scott LLC now owns 8,224 shares of the semiconductor company’s stock worth $3,775,000 after acquiring an additional 3,472 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of Synopsys by 8.0% in the third quarter. HighTower Advisors LLC now owns 39,241 shares of the semiconductor company’s stock worth $17,894,000 after acquiring an additional 2,903 shares during the last quarter. Greenleaf Trust grew its stake in shares of Synopsys by 0.7% in the third quarter. Greenleaf Trust now owns 5,962 shares of the semiconductor company’s stock worth $2,736,000 after acquiring an additional 44 shares during the last quarter. WBI Investments Inc. acquired a new stake in Synopsys during the third quarter worth $3,809,000. Finally, Valley Wealth Managers Inc. boosted its stake in Synopsys by 4.0% during the third quarter. Valley Wealth Managers Inc. now owns 652 shares of the semiconductor company’s stock worth $299,000 after buying an additional 25 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SNPS shares. Rosenblatt Securities reiterated a “buy” rating and set a $615.00 price target on shares of Synopsys in a research note on Thursday, May 23rd. Robert W. Baird lifted their price target on shares of Synopsys from $640.00 to $645.00 and gave the stock an “outperform” rating in a research note on Thursday, May 23rd. Needham & Company LLC reiterated a “buy” rating and set a $660.00 price target on shares of Synopsys in a research note on Thursday, May 23rd. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Finally, Piper Sandler reiterated an “overweight” rating and set a $672.00 price target (up previously from $665.00) on shares of Synopsys in a research note on Thursday, May 23rd. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $616.18.

Insiders Place Their Bets

In other news, Director Marc N. Casper acquired 750 shares of the company’s stock in a transaction on Monday, March 25th. The stock was purchased at an average cost of $585.45 per share, with a total value of $439,087.50. Following the acquisition, the director now owns 1,736 shares of the company’s stock, valued at approximately $1,016,341.20. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the completion of the sale, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at approximately $36,440,228.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marc N. Casper acquired 750 shares of the company’s stock in a transaction on Monday, March 25th. The shares were purchased at an average cost of $585.45 per share, with a total value of $439,087.50. Following the completion of the acquisition, the director now directly owns 1,736 shares in the company, valued at approximately $1,016,341.20. The disclosure for this purchase can be found here. In the last three months, insiders sold 22,352 shares of company stock valued at $12,996,801. 0.66% of the stock is currently owned by insiders.

Synopsys Trading Up 0.6 %

Shares of Synopsys stock traded up $3.56 during trading on Tuesday, reaching $579.74. The company’s stock had a trading volume of 351,634 shares, compared to its average volume of 1,119,846. The stock has a 50-day moving average price of $557.08 and a two-hundred day moving average price of $550.86. Synopsys, Inc. has a one year low of $416.87 and a one year high of $629.38. The stock has a market capitalization of $88.83 billion, a P/E ratio of 62.63, a price-to-earnings-growth ratio of 3.69 and a beta of 1.08.

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