Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Ascent Group LLC

Ascent Group LLC decreased its position in Synopsys, Inc. (NASDAQ:SNPS) by 27.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,442 shares of the semiconductor company’s stock after selling 536 shares during the quarter. Ascent Group LLC’s holdings in Synopsys were worth $858,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SNPS. Steward Partners Investment Advisory LLC raised its holdings in Synopsys by 2.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,372 shares of the semiconductor company’s stock valued at $1,221,000 after acquiring an additional 53 shares in the last quarter. Stifel Financial Corp raised its holdings in Synopsys by 22.7% in the fourth quarter. Stifel Financial Corp now owns 28,116 shares of the semiconductor company’s stock valued at $14,477,000 after acquiring an additional 5,205 shares in the last quarter. Dorsey & Whitney Trust CO LLC acquired a new stake in Synopsys in the fourth quarter valued at approximately $219,000. Jones Financial Companies Lllp raised its holdings in Synopsys by 233.3% in the fourth quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 42 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Synopsys by 0.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 166,066 shares of the semiconductor company’s stock valued at $85,513,000 after acquiring an additional 1,498 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Activity at Synopsys

In related news, insider Geus Aart De sold 5,448 shares of Synopsys 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 transaction, the insider now directly owns 106,983 shares in the company, valued at approximately $66,431,093.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total value of $5,701,189.77. Following the transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Geus Aart De sold 5,448 shares of Synopsys stock in a transaction on Monday, July 8th. The shares were sold at an average price of $620.95, for a total transaction of $3,382,935.60. Following the completion of the transaction, the insider now owns 106,983 shares in the company, valued at $66,431,093.85. The disclosure for this sale can be found here. Insiders have sold a total of 55,424 shares of company stock worth $33,625,711 in the last three months. Insiders own 0.66% of the company’s stock.

Synopsys Trading Down 1.3 %

Shares of SNPS opened at $506.39 on Tuesday. The firm has a market cap of $77.59 billion, a PE ratio of 55.04, a price-to-earnings-growth ratio of 3.34 and a beta of 1.08. The company’s 50 day simple moving average is $516.90 and its 200-day simple moving average is $553.99. Synopsys, Inc. has a 12-month low of $448.26 and a 12-month high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.28 by $0.15. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period last year, the firm posted $2.17 earnings per share. As a group, equities research analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Robert W. Baird raised their target price on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Needham & Company LLC reissued a “buy” rating and set a $640.00 price objective on shares of Synopsys in a report on Thursday, August 22nd. Piper Sandler reissued an “overweight” rating and set a $687.00 price objective on shares of Synopsys in a report on Thursday, August 22nd. JPMorgan Chase & Co. raised their price objective on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Finally, Rosenblatt Securities reissued a “buy” rating and set a $635.00 price objective on shares of Synopsys in a report on Friday, August 23rd. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $638.00.

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.