Virtu Financial LLC Sells 4,329 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Virtu Financial LLC reduced its position in Synopsys, Inc. (NASDAQ:SNPS) by 65.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,328 shares of the semiconductor company’s stock after selling 4,329 shares during the quarter. Virtu Financial LLC’s holdings in Synopsys were worth $1,385,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Swedbank AB acquired a new position in Synopsys during the first quarter worth $1,051,637,000. Price T Rowe Associates Inc. MD increased its position in shares of Synopsys by 39.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock worth $3,050,441,000 after purchasing an additional 1,514,449 shares in the last quarter. GQG Partners LLC increased its position in shares of Synopsys by 91.6% during the 1st quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock worth $1,197,350,000 after purchasing an additional 1,001,371 shares in the last quarter. Sustainable Growth Advisers LP bought a new position in Synopsys during the 2nd quarter valued at about $572,050,000. Finally, Capital World Investors boosted its position in Synopsys by 12.5% in the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock valued at $4,211,892,000 after buying an additional 818,485 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SNPS shares. Piper Sandler reiterated an “overweight” rating and issued a $687.00 target price on shares of Synopsys in a research note on Thursday, August 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research report on Friday, August 23rd. Needham & Company LLC restated a “buy” rating and set a $640.00 target price on shares of Synopsys in a report on Thursday, August 22nd. JPMorgan Chase & Co. lifted their price target on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, KeyCorp increased their price objective on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Synopsys has a consensus rating of “Buy” and a consensus target price of $630.09.

Synopsys Price Performance

Shares of NASDAQ:SNPS opened at $495.95 on Thursday. The company has a 50 day moving average of $530.00 and a 200-day moving average of $557.62. Synopsys, Inc. has a one year low of $440.62 and a one year high of $629.38. The stock has a market cap of $75.99 billion, a price-to-earnings ratio of 53.91, a P/E/G ratio of 3.23 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, beating the consensus estimate of $3.28 by $0.15. The company 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 business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.17 EPS. Equities research analysts anticipate that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Insider Buying and Selling at Synopsys

In other news, insider Geus Aart De sold 5,448 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $620.95, for a total transaction of $3,382,935.60. Following the completion of the transaction, the insider now directly owns 106,983 shares in the company, valued at approximately $66,431,093.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Synopsys news, insider Geus Aart De sold 5,448 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $620.95, for a total value of $3,382,935.60. Following the sale, the insider now directly owns 106,983 shares in the company, valued at $66,431,093.85. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction 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 completion of 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. Over the last quarter, insiders have sold 73,687 shares of company stock valued at $44,616,637. 0.66% of the stock is currently owned by company insiders.

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.