Sienna Gestion Cuts Position in Synopsys, Inc. (NASDAQ:SNPS)

Sienna Gestion lessened its position in Synopsys, Inc. (NASDAQ:SNPS) by 50.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,336 shares of the semiconductor company’s stock after selling 8,621 shares during the quarter. Sienna Gestion’s holdings in Synopsys were worth $4,958,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in SNPS. Swedbank AB purchased a new position in shares of Synopsys during the 1st quarter valued at about $1,051,637,000. Price T Rowe Associates Inc. MD grew its position in Synopsys by 39.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock valued at $3,050,441,000 after acquiring an additional 1,514,449 shares during the last quarter. GQG Partners LLC raised its stake in shares of Synopsys by 91.6% during the first quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock worth $1,197,350,000 after acquiring an additional 1,001,371 shares in the last quarter. Sustainable Growth Advisers LP bought a new stake in shares of Synopsys in the 2nd quarter worth approximately $572,050,000. Finally, Capital World Investors boosted its stake in shares of Synopsys by 12.5% in the 1st quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock valued at $4,211,892,000 after purchasing an additional 818,485 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insiders Place Their Bets

In other news, insider Geus Aart De sold 5,448 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $620.95, for a total value of $3,382,935.60. Following the completion of the transaction, the insider now owns 106,983 shares in the company, valued at approximately $66,431,093.85. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Synopsys news, insider Geus Aart De sold 5,448 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $620.95, for a total value of $3,382,935.60. Following the completion of the transaction, the insider now owns 106,983 shares in the company, valued at $66,431,093.85. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction 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 approximately $34,655,789.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 73,687 shares of company stock worth $44,616,637. Company insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

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

Synopsys Stock Down 1.3 %

Shares of Synopsys stock opened at $495.95 on Thursday. The company has a market cap of $75.99 billion, a PE ratio of 53.91, a P/E/G ratio of 3.23 and a beta of 1.08. The business has a 50 day moving average of $530.00 and a 200 day moving average of $557.62. Synopsys, Inc. has a 52 week low of $440.62 and a 52 week high of $629.38.

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