Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. lowered its stake in shares of Synopsys, Inc. (NASDAQ:SNPSFree Report) by 19.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,951 shares of the semiconductor company’s stock after selling 729 shares during the period. Shell Asset Management Co.’s holdings in Synopsys were worth $1,519,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Gotham Asset Management LLC raised its stake in Synopsys by 35.9% during the 3rd quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock worth $3,868,000 after acquiring an additional 2,227 shares in the last quarter. abrdn plc raised its position in shares of Synopsys by 56.9% in the fourth quarter. abrdn plc now owns 84,369 shares of the semiconductor company’s stock valued at $43,442,000 after buying an additional 30,581 shares during the last quarter. Simplicity Solutions LLC raised its position in shares of Synopsys by 55.5% in the fourth quarter. Simplicity Solutions LLC now owns 4,310 shares of the semiconductor company’s stock valued at $2,219,000 after buying an additional 1,539 shares during the last quarter. Comerica Bank acquired a new position in shares of Synopsys in the third quarter valued at approximately $14,203,000. Finally, APG Asset Management US Inc. acquired a new position in Synopsys during the fourth quarter worth approximately $15,681,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

NASDAQ SNPS opened at $576.18 on Tuesday. Synopsys, Inc. has a 12 month low of $416.87 and a 12 month high of $629.38. The company has a market capitalization of $88.28 billion, a price-to-earnings ratio of 62.63, a price-to-earnings-growth ratio of 3.69 and a beta of 1.08. The company’s fifty day moving average price is $557.08 and its two-hundred day moving average price is $550.86.

Synopsys (NASDAQ:SNPSGet Free Report) last posted 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 company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the company earned $1.76 earnings per share. The company’s revenue was up 15.2% compared to the same quarter last year. As a group, analysts anticipate that Synopsys, Inc. will post 9.66 EPS for the current year.

Insider Buying and Selling at Synopsys

In other Synopsys news, insider John F. Runkel, Jr. sold 5,319 shares of the stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the sale, the insider now directly owns 20,000 shares of the company’s stock, valued at $11,587,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Synopsys news, Director Marc N. Casper bought 750 shares of the company’s stock in a transaction on Monday, March 25th. The shares were bought 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 owns 1,736 shares of the company’s stock, valued at $1,016,341.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John F. Runkel, Jr. sold 5,319 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the sale, the insider now directly owns 20,000 shares in the company, valued at $11,587,400. The disclosure for this sale can be found here. Insiders have sold 22,352 shares of company stock worth $12,996,801 in the last ninety days. 0.66% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $672.00 price target (up previously from $665.00) on shares of Synopsys in a research report on Thursday, May 23rd. Rosenblatt Securities reaffirmed a “buy” rating and set a $615.00 price target on shares of Synopsys in a research report on Thursday, May 23rd. Robert W. Baird boosted their price objective 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 objective on shares of Synopsys in a research note on Thursday, May 23rd. Finally, StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Synopsys presently has an average rating of “Buy” and a consensus target price of $616.18.

Get Our Latest Analysis on Synopsys

Synopsys Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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