Busey Bank Has $332,000 Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Busey Bank lessened its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 3.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 558 shares of the semiconductor company’s stock after selling 20 shares during the quarter. Busey Bank’s holdings in Synopsys were worth $332,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SNPS. Fifth Third Wealth Advisors LLC acquired a new position in Synopsys during the 2nd quarter worth $802,000. Prossimo Advisors LLC acquired a new position in shares of Synopsys during the second quarter valued at about $946,000. Security National Bank increased its stake in Synopsys by 0.8% during the second quarter. Security National Bank now owns 9,725 shares of the semiconductor company’s stock valued at $5,787,000 after acquiring an additional 78 shares during the period. Aaron Wealth Advisors LLC raised its holdings in Synopsys by 38.0% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 505 shares of the semiconductor company’s stock valued at $301,000 after acquiring an additional 139 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Synopsys by 1.0% during the second quarter. Fifth Third Bancorp now owns 211,226 shares of the semiconductor company’s stock valued at $125,692,000 after purchasing an additional 2,139 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $582.41, for a total value of $5,995,328.54. Following the completion of the transaction, the chief executive officer now owns 62,568 shares in the company, valued at $36,440,228.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Synopsys news, insider Geus Aart De sold 493 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $620.60, for a total transaction of $305,955.80. Following the transaction, the insider now owns 106,983 shares of the company’s stock, valued at $66,393,649.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $582.41, for a total value 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 $36,440,228.88. The disclosure for this sale can be found here. Insiders have sold a total of 81,363 shares of company stock valued at $49,361,263 over the last 90 days. 0.66% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on SNPS. Robert W. Baird boosted their price target on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday. KeyCorp boosted their target price on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Needham & Company LLC restated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research report on Thursday. JPMorgan Chase & Co. lifted their target price on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $687.00 price target on shares of Synopsys in a report on Thursday. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $630.09.

Synopsys Trading Down 1.2 %

Shares of SNPS traded down $7.00 on Thursday, reaching $557.68. 604,194 shares of the company’s stock were exchanged, compared to its average volume of 1,060,739. The business has a 50 day moving average price of $572.65 and a two-hundred day moving average price of $566.66. Synopsys, Inc. has a 12 month low of $434.14 and a 12 month high of $629.38. The stock has a market capitalization of $85.45 billion, a P/E ratio of 61.48, a price-to-earnings-growth ratio of 3.58 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $3.00 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 firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the company earned $1.76 EPS. Synopsys’s quarterly revenue was up 15.2% on a year-over-year basis. Equities research analysts predict that Synopsys, Inc. will post 9.55 EPS for the current year.

About Synopsys

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.