Skandinaviska Enskilda Banken AB publ Sells 17,903 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Skandinaviska Enskilda Banken AB publ cut its position in Synopsys, Inc. (NASDAQ:SNPS) by 31.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,704 shares of the semiconductor company’s stock after selling 17,903 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Synopsys were worth $23,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of SNPS. Swedbank AB purchased a new stake in Synopsys in the 1st quarter worth $1,051,637,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Synopsys by 39.6% in the first 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 acquiring an additional 1,514,449 shares during the period. GQG Partners LLC grew its position 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 purchasing an additional 1,001,371 shares in the last quarter. Sustainable Growth Advisers LP purchased a new stake in shares of Synopsys during the second quarter worth about $572,050,000. Finally, Capital World Investors raised its stake in Synopsys by 12.5% during 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 during the period. 85.47% of the stock is currently owned by institutional investors.

Insider Activity

In related 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 transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction 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 in the company, valued at approximately $34,655,789.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 owns 106,983 shares in the company, valued at approximately $66,431,093.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,687 shares of company stock valued at $44,616,637. 0.66% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

Synopsys Stock Down 1.5 %

Synopsys stock opened at $506.65 on Friday. The company’s 50-day moving average price is $525.96 and its 200-day moving average price is $556.71. The company 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 twelve month low of $440.62 and a twelve month high of $629.38.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, topping the consensus estimate 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 posted $2.17 earnings per share. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, sell-side analysts expect that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

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.