Moody National Bank Trust Division Buys New Shares in Synopsys, Inc. (NASDAQ:SNPS)

Moody National Bank Trust Division bought a new stake in Synopsys, Inc. (NASDAQ:SNPSGet Rating) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,639 shares of the semiconductor company’s stock, valued at approximately $498,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Amalgamated Bank grew its holdings in Synopsys by 0.3% in the first quarter. Amalgamated Bank now owns 41,739 shares of the semiconductor company’s stock valued at $13,910,000 after purchasing an additional 142 shares during the period. Gradient Investments LLC grew its stake in Synopsys by 1.1% during the first quarter. Gradient Investments LLC now owns 29,853 shares of the semiconductor company’s stock worth $9,949,000 after buying an additional 313 shares during the period. Neuberger Berman Group LLC grew its stake in Synopsys by 47.1% during the first quarter. Neuberger Berman Group LLC now owns 10,368 shares of the semiconductor company’s stock worth $3,466,000 after buying an additional 3,322 shares during the period. The Manufacturers Life Insurance Company grew its stake in Synopsys by 36.8% during the first quarter. The Manufacturers Life Insurance Company now owns 184,199 shares of the semiconductor company’s stock worth $61,340,000 after buying an additional 49,579 shares during the period. Finally, Toroso Investments LLC grew its stake in Synopsys by 13.0% during the first quarter. Toroso Investments LLC now owns 5,375 shares of the semiconductor company’s stock worth $1,791,000 after buying an additional 617 shares during the period. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SNPS. Wolfe Research began coverage on shares of Synopsys in a research note on Tuesday, August 16th. They issued an “outperform” rating and a $440.00 target price for the company. Robert W. Baird upped their target price on shares of Synopsys from $409.00 to $444.00 and gave the company an “outperform” rating in a research note on Thursday, August 18th. Wells Fargo & Company upped their target price on shares of Synopsys from $375.00 to $425.00 and gave the company an “overweight” rating in a research note on Thursday, August 11th. Bank of America upgraded shares of Synopsys from an “underperform” rating to a “neutral” rating and upped their target price for the company from $325.00 to $360.00 in a research note on Wednesday, June 29th. Finally, Rosenblatt Securities upped their target price on shares of Synopsys from $390.00 to $405.00 and gave the company a “buy” rating in a research note on Thursday, August 18th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $405.33.

Synopsys Stock Performance

Shares of NASDAQ:SNPS opened at $314.21 on Monday. The stock has a market capitalization of $48.05 billion, a price-to-earnings ratio of 47.68, a price-to-earnings-growth ratio of 3.03 and a beta of 1.23. Synopsys, Inc. has a 1-year low of $255.02 and a 1-year high of $391.17. The company’s fifty day moving average is $347.10 and its two-hundred day moving average is $319.44.

Synopsys (NASDAQ:SNPSGet Rating) last issued its earnings results on Wednesday, August 17th. The semiconductor company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.11. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Synopsys had a net margin of 20.86% and a return on equity of 18.29%. The firm’s revenue was up 18.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.27 earnings per share. Sell-side analysts expect that Synopsys, Inc. will post 6.41 EPS for the current fiscal year.

Synopsys declared that its board has approved a stock repurchase program on Thursday, September 1st that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the semiconductor company to buy up to 2.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other Synopsys news, CFO Trac Pham sold 18,393 shares of the stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $307.03, for a total transaction of $5,647,202.79. Following the sale, the chief financial officer now directly owns 39,811 shares of the company’s stock, valued at $12,223,171.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CRO Joseph W. Logan sold 35,274 shares of the company’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $364.43, for a total transaction of $12,854,903.82. Following the completion of the transaction, the executive now owns 99,907 shares in the company, valued at $36,409,108.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Trac Pham sold 18,393 shares of the company’s stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $307.03, for a total transaction of $5,647,202.79. Following the transaction, the chief financial officer now owns 39,811 shares of the company’s stock, valued at approximately $12,223,171.33. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,182 shares of company stock valued at $22,033,688. Company insiders own 1.20% of the company’s stock.

Synopsys Profile

(Get Rating)

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. The company offers Fusion Design Platform that provides digital design implementation solutions; Verification Continuum Platform that 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.

See Also

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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