Hancock Whitney Corp Has $5.76 Million Stake in Synopsys, Inc. (NASDAQ:SNPS)

Hancock Whitney Corp lowered its position in Synopsys, Inc. (NASDAQ:SNPS) by 1.2% in the second quarter, HoldingsChannel.com reports. The fund owned 9,680 shares of the semiconductor company’s stock after selling 121 shares during the quarter. Hancock Whitney Corp’s holdings in Synopsys were worth $5,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Summit Trail Advisors LLC boosted its stake in shares of Synopsys by 37.8% during the 2nd quarter. Summit Trail Advisors LLC now owns 1,061 shares of the semiconductor company’s stock worth $631,000 after acquiring an additional 291 shares during the period. Sei Investments Co. lifted its holdings in Synopsys by 10.2% during the 2nd quarter. Sei Investments Co. now owns 234,623 shares of the semiconductor company’s stock valued at $139,621,000 after purchasing an additional 21,765 shares during the last quarter. Pacer Advisors Inc. boosted its position in Synopsys by 1.7% during the second quarter. Pacer Advisors Inc. now owns 20,614 shares of the semiconductor company’s stock worth $12,267,000 after purchasing an additional 338 shares during the period. AE Wealth Management LLC boosted its position in Synopsys by 4.8% during the second quarter. AE Wealth Management LLC now owns 3,678 shares of the semiconductor company’s stock worth $2,189,000 after purchasing an additional 169 shares during the period. Finally, King Luther Capital Management Corp increased its holdings in shares of Synopsys by 50.6% in the second quarter. King Luther Capital Management Corp now owns 9,313 shares of the semiconductor company’s stock valued at $5,542,000 after purchasing an additional 3,129 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Insider Activity

In related news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total value of $5,701,189.77. Following the transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Geus Aart De sold 4,212 shares of the stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $600.05, for a total value of $2,527,410.60. Following the completion of the transaction, the insider now owns 106,983 shares of the company’s stock, valued at $64,195,149.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the sale, the chief executive officer now directly owns 62,568 shares in the company, valued at $34,655,789.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,687 shares of company stock worth $44,616,637. 0.66% of the stock is currently owned by corporate insiders.

Synopsys Price Performance

Shares of NASDAQ SNPS opened at $506.65 on Friday. The business has a fifty day moving average price of $525.96 and a two-hundred day moving average price of $556.71. The stock has a market capitalization of $77.63 billion, a PE ratio of 55.07, a P/E/G ratio of 3.29 and a beta of 1.08. Synopsys, Inc. has a fifty-two week low of $440.62 and a fifty-two week high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, beating analysts’ consensus estimates of $3.28 by $0.15. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the firm earned $2.17 earnings per share. Synopsys’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, equities analysts expect that Synopsys, Inc. will post 9.45 EPS for the current year.

Analyst Ratings Changes

Several analysts recently commented on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $687.00 target price on shares of Synopsys in a report on Thursday, August 22nd. KeyCorp boosted their price objective on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research report on Thursday, August 22nd. Robert W. Baird lifted their price target on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a report on Friday, August 23rd. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $630.09.

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.