Federated Hermes Inc. Sells 904 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Federated Hermes Inc. lowered its stake in Synopsys, Inc. (NASDAQ:SNPS) by 33.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,771 shares of the semiconductor company’s stock after selling 904 shares during the quarter. Federated Hermes Inc.’s holdings in Synopsys were worth $1,054,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SNPS. ORG Partners LLC lifted its position in Synopsys by 600.0% in the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 36 shares in the last quarter. Chris Bulman Inc acquired a new position in shares of Synopsys during the second quarter worth about $30,000. University of Texas Texas AM Investment Managment Co. bought a new position in shares of Synopsys during the fourth quarter worth about $28,000. Jones Financial Companies Lllp raised its position in Synopsys by 233.3% in the 4th quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 42 shares during the last quarter. Finally, Fortitude Family Office LLC lifted its stake in Synopsys by 66.7% in the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 24 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Geus Aart De sold 4,212 shares of the stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $600.05, for a total transaction of $2,527,410.60. Following the sale, the insider now owns 106,983 shares in the company, valued at approximately $64,195,149.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The disclosure for this sale can be found here. Over the last ninety days, 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 Price Performance

SNPS opened at $506.65 on Friday. The company has a market capitalization of $77.63 billion, a PE ratio of 55.07, a price-to-earnings-growth ratio of 3.29 and a beta of 1.08. The business has a fifty day simple moving average of $525.96 and a 200 day simple moving average of $556.65. Synopsys, Inc. has a 1 year low of $440.62 and a 1 year high of $629.38.

Synopsys (NASDAQ:SNPS) last released its quarterly 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. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the prior year, the company posted $2.17 earnings per share. Synopsys’s revenue was up 12.7% compared to the same quarter last year. Equities analysts anticipate that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Synopsys Company 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.