Public Employees Retirement Association of Colorado Decreases Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Public Employees Retirement Association of Colorado lessened its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 2.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,200 shares of the semiconductor company’s stock after selling 506 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Synopsys were worth $12,615,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of SNPS. Vanguard Group Inc. boosted its holdings in shares of Synopsys by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 13,829,357 shares of the semiconductor company’s stock valued at $7,903,478,000 after buying an additional 278,265 shares in the last quarter. Capital World Investors grew its holdings in shares of Synopsys by 12.5% during the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock worth $4,211,892,000 after purchasing an additional 818,485 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of 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 worth $3,050,441,000 after purchasing an additional 1,514,449 shares in the last quarter. GQG Partners LLC lifted its holdings in shares of Synopsys by 91.6% in the 1st quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock valued at $1,197,350,000 after purchasing an additional 1,001,371 shares during the last quarter. Finally, Swedbank AB boosted its position in shares of Synopsys by 1.4% in the 2nd quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock valued at $1,110,461,000 after purchasing an additional 25,999 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SNPS. Robert W. Baird boosted their price objective on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. increased their price target on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Piper Sandler restated an “overweight” rating and issued a $687.00 price objective on shares of Synopsys in a research note on Thursday, August 22nd. Needham & Company LLC reiterated a “buy” rating and set a $640.00 target price on shares of Synopsys in a research note on Thursday, August 22nd. Finally, Rosenblatt Securities restated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research report on Friday, August 23rd. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $630.09.

Synopsys Trading Down 1.5 %

NASDAQ:SNPS opened at $506.65 on Friday. The firm has a market cap of $77.63 billion, a price-to-earnings ratio of 55.07, a price-to-earnings-growth ratio of 3.29 and a beta of 1.08. Synopsys, Inc. has a 12-month low of $440.62 and a 12-month high of $629.38. The company’s 50-day moving average is $525.96 and its two-hundred day moving average is $556.65.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share 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 the consensus estimate of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. Synopsys’s revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.17 EPS. On average, equities research analysts forecast that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Synopsys

In other news, 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 sale, the chief executive officer now directly owns 62,568 shares of the company’s stock, 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. In other Synopsys news, insider Geus Aart De sold 4,212 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $600.05, for a total value of $2,527,410.60. Following the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at $64,195,149.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value of $5,701,189.77. Following the completion of the sale, 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. Insiders sold 73,687 shares of company stock worth $44,616,637 in the last 90 days. 0.66% of the stock is 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.