Bank of Montreal Can Sells 14,382 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Bank of Montreal Can lessened its stake in Synopsys, Inc. (NASDAQ:SNPS) by 6.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 223,846 shares of the semiconductor company’s stock after selling 14,382 shares during the period. Bank of Montreal Can owned about 0.15% of Synopsys worth $134,370,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. 9258 Wealth Management LLC boosted its stake in Synopsys by 1.1% in the fourth quarter. 9258 Wealth Management LLC now owns 2,908 shares of the semiconductor company’s stock worth $1,497,000 after purchasing an additional 32 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Synopsys by 49.0% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 5,782 shares of the semiconductor company’s stock worth $2,977,000 after purchasing an additional 1,901 shares during the last quarter. Commerce Bank boosted its holdings in Synopsys by 0.5% in the fourth quarter. Commerce Bank now owns 8,044 shares of the semiconductor company’s stock valued at $4,142,000 after acquiring an additional 37 shares during the last quarter. Team Hewins LLC acquired a new position in shares of Synopsys in the 4th quarter valued at $200,000. Finally, Orion Portfolio Solutions LLC lifted its holdings in shares of Synopsys by 3.6% during the 4th quarter. Orion Portfolio Solutions LLC now owns 5,377 shares of the semiconductor company’s stock valued at $2,689,000 after purchasing an additional 187 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on SNPS. Needham & Company LLC reissued a “buy” rating and set a $640.00 target price on shares of Synopsys in a research note on Thursday, August 22nd. Robert W. Baird upped 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. Piper Sandler reiterated an “overweight” rating and set a $687.00 target price on shares of Synopsys in a research note 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, KeyCorp raised their price target on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $630.09.

Synopsys Stock Performance

Shares of SNPS opened at $505.79 on Tuesday. The stock has a fifty day moving average of $523.75 and a 200-day moving average of $555.97. The stock has a market capitalization of $77.50 billion, a price-to-earnings ratio of 54.98, a PEG ratio of 3.29 and a beta of 1.08. Synopsys, Inc. has a 52 week low of $440.62 and a 52 week high of $629.38.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (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 analyst estimates of $1.52 billion. During the same quarter in the previous year, the business earned $2.17 earnings per share. Synopsys’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, equities analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current year.

Insiders Place Their Bets

In other news, insider Geus Aart De sold 8,158 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $602.59, for a total value of $4,915,929.22. Following the completion of the sale, the insider now owns 106,983 shares in the company, valued at $64,466,885.97. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Synopsys news, insider Geus Aart De sold 8,158 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $602.59, for a total value of $4,915,929.22. Following the completion of the transaction, the insider now owns 106,983 shares in the company, valued at approximately $64,466,885.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of the sale, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,475 shares of company stock worth $42,089,227. 0.66% of the stock is owned by corporate insiders.

About Synopsys

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.