Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Dodge & Cox

Dodge & Cox cut its position in Synopsys, Inc. (NASDAQ:SNPS) by 4.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,550 shares of the semiconductor company’s stock after selling 600 shares during the quarter. Dodge & Cox’s holdings in Synopsys were worth $5,947,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Coldstream Capital Management Inc. lifted its holdings in Synopsys by 0.8% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,195 shares of the semiconductor company’s stock worth $1,130,000 after buying an additional 18 shares in the last quarter. Mission Wealth Management LP boosted its holdings in Synopsys by 2.5% in the fourth quarter. Mission Wealth Management LP now owns 780 shares of the semiconductor company’s stock valued at $401,000 after purchasing an additional 19 shares during the period. Fred Alger Management LLC grew its stake in Synopsys by 1.8% during the 3rd quarter. Fred Alger Management LLC now owns 1,150 shares of the semiconductor company’s stock worth $528,000 after purchasing an additional 20 shares in the last quarter. Allstate Corp increased its holdings in Synopsys by 4.7% during the 4th quarter. Allstate Corp now owns 468 shares of the semiconductor company’s stock worth $241,000 after purchasing an additional 21 shares during the period. Finally, Mather Group LLC. raised its position in Synopsys by 0.7% in the 4th quarter. Mather Group LLC. now owns 3,155 shares of the semiconductor company’s stock valued at $1,625,000 after purchasing an additional 22 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SNPS shares. Piper Sandler reissued an “overweight” rating and set a $672.00 price objective (up from $665.00) on shares of Synopsys in a research report on Thursday, May 23rd. Needham & Company LLC reissued a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research report on Thursday, May 23rd. Rosenblatt Securities reaffirmed a “buy” rating and set a $615.00 price objective on shares of Synopsys in a research report on Thursday, May 23rd. JPMorgan Chase & Co. increased their target price on Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Finally, Robert W. Baird lifted their price target on Synopsys from $640.00 to $645.00 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $616.18.

Synopsys Stock Performance

Synopsys stock opened at $590.21 on Friday. The company has a market capitalization of $90.43 billion, a P/E ratio of 64.15, a PEG ratio of 3.81 and a beta of 1.08. Synopsys, Inc. has a fifty-two week low of $416.87 and a fifty-two week high of $629.38. The stock has a 50-day simple moving average of $558.20 and a 200-day simple moving average of $552.03.

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

Insider Buying and Selling

In other Synopsys news, insider John F. Runkel, Jr. sold 5,319 shares of Synopsys stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total value of $3,081,669.03. Following the transaction, the insider now directly owns 20,000 shares in the company, valued at $11,587,400. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider John F. Runkel, Jr. sold 1,239 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $582.90, for a total transaction of $722,213.10. Following the completion of the sale, the insider now directly owns 20,000 shares of the company’s stock, valued at $11,658,000. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John F. Runkel, Jr. sold 5,319 shares of Synopsys 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 completion of the transaction, the insider now owns 20,000 shares in the company, valued at $11,587,400. The disclosure for this sale can be found here. Insiders sold a total of 23,288 shares of company stock worth $13,527,485 in the last 90 days. Company insiders own 0.66% of the company’s stock.

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.