Intech Investment Management LLC Sells 38,832 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Intech Investment Management LLC cut its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 74.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,432 shares of the semiconductor company’s stock after selling 38,832 shares during the period. Intech Investment Management LLC’s holdings in Synopsys were worth $7,993,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of SNPS. Andina Capital Management LLC lifted its holdings in shares of Synopsys by 2.8% during the 2nd quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock worth $395,000 after acquiring an additional 18 shares during the last quarter. Cascade Financial Partners LLC raised its position in Synopsys by 4.9% in the 2nd quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock worth $232,000 after purchasing an additional 18 shares during the period. Hazlett Burt & Watson Inc. raised its position in Synopsys by 40.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 20 shares during the period. Ignite Planners LLC raised its position in Synopsys by 3.5% in the 1st quarter. Ignite Planners LLC now owns 596 shares of the semiconductor company’s stock worth $344,000 after purchasing an additional 20 shares during the period. Finally, Monument Capital Management raised its position in Synopsys by 1.1% in the 1st quarter. Monument Capital Management now owns 1,880 shares of the semiconductor company’s stock worth $1,074,000 after purchasing an additional 20 shares during the period. 85.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SNPS shares. Rosenblatt Securities restated a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research report on Friday, August 23rd. KeyCorp boosted their price objective on shares of 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 reaffirmed a “buy” rating and set a $640.00 target price on shares of Synopsys in a research note on Thursday, August 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $687.00 target price on shares of Synopsys in a research note on Thursday, August 22nd. Finally, Robert W. Baird lifted their target price on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $630.09.

Synopsys Price Performance

Shares of NASDAQ SNPS opened at $506.65 on Friday. The firm has a fifty day moving average price of $525.96 and a 200-day moving average price of $556.71. The stock has a market cap 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. Synopsys, Inc. has a 1 year low of $440.62 and a 1 year high of $629.38.

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

Insider Activity at Synopsys

In other Synopsys news, insider Geus Aart De sold 5,448 shares of the business’s 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 owns 106,983 shares in the company, valued at approximately $66,431,093.85. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Geus Aart De sold 5,448 shares of Synopsys stock in a transaction dated 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 of the company’s stock, valued at approximately $66,431,093.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,687 shares of company stock valued at $44,616,637. Corporate insiders own 0.66% of the company’s stock.

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.