AMF Tjanstepension AB Lowers Position in Synopsys, Inc. (NASDAQ:SNPS)

AMF Tjanstepension AB cut its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 34.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,255 shares of the semiconductor company’s stock after selling 10,670 shares during the quarter. AMF Tjanstepension AB’s holdings in Synopsys were worth $11,576,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in Synopsys by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 13,551,092 shares of the semiconductor company’s stock valued at $6,977,593,000 after purchasing an additional 203,601 shares in the last quarter. Capital World Investors grew its stake in shares of Synopsys by 0.5% in the 4th quarter. Capital World Investors now owns 6,551,405 shares of the semiconductor company’s stock valued at $3,373,384,000 after purchasing an additional 32,430 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Synopsys by 6.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,565,534 shares of the semiconductor company’s stock valued at $1,321,019,000 after purchasing an additional 153,053 shares during the last quarter. Norges Bank purchased a new position in shares of Synopsys in the 4th quarter valued at approximately $1,272,143,000. Finally, Ameriprise Financial Inc. raised its holdings in Synopsys by 20.3% during the third quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company’s stock worth $925,744,000 after purchasing an additional 344,430 shares during the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Synopsys news, insider Geus Aart De sold 4,212 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $600.05, for a total value of $2,527,410.60. Following the completion of the sale, the insider now owns 106,983 shares of the company’s stock, valued at $64,195,149.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the completion of the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $36,440,228.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Geus Aart De sold 4,212 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $600.05, for a total value of $2,527,410.60. Following the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $64,195,149.15. The disclosure for this sale can be found here. Insiders sold 35,658 shares of company stock valued at $20,970,824 over the last quarter. Insiders own 0.66% of the company’s stock.

Synopsys Trading Up 0.0 %

Shares of SNPS stock opened at $595.06 on Friday. Synopsys, Inc. has a 1-year low of $418.51 and a 1-year high of $629.38. The company has a market capitalization of $91.18 billion, a price-to-earnings ratio of 64.68, a P/E/G ratio of 3.84 and a beta of 1.08. The stock’s fifty day simple moving average is $569.90 and its 200-day simple moving average is $556.47.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.50 billion. Synopsys had a net margin of 23.05% and a return on equity of 22.66%. Synopsys’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.76 EPS. On average, sell-side analysts predict that Synopsys, Inc. will post 9.66 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SNPS. Piper Sandler reissued an “overweight” rating and issued a $672.00 price target (up from $665.00) on shares of Synopsys in a report on Thursday, May 23rd. Robert W. Baird lifted their price objective on Synopsys from $640.00 to $645.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. StockNews.com raised Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $615.00 price objective on shares of Synopsys in a research report on Thursday, May 23rd. Finally, JPMorgan Chase & Co. boosted their price target on Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $624.36.

Synopsys 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.