Federated Hermes Inc. Sells 255 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Federated Hermes Inc. cut its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,174 shares of the semiconductor company’s stock after selling 255 shares during the period. Federated Hermes Inc.’s holdings in Synopsys were worth $15,022,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Venturi Wealth Management LLC bought a new position in shares of Synopsys during the third quarter valued at approximately $27,000. OFI Invest Asset Management purchased a new stake in Synopsys during the third quarter valued at approximately $26,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Synopsys during the third quarter valued at approximately $29,000. Keener Financial Planning LLC purchased a new stake in Synopsys during the fourth quarter valued at approximately $56,000. Finally, Catalyst Capital Advisors LLC lifted its position in Synopsys by 34.5% during the third quarter. Catalyst Capital Advisors LLC now owns 113 shares of the semiconductor company’s stock valued at $52,000 after acquiring an additional 29 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Price Performance

NASDAQ:SNPS opened at $515.49 on Tuesday. The firm has a market capitalization of $78.61 billion, a P/E ratio of 56.77, a PEG ratio of 2.98 and a beta of 1.06. Synopsys, Inc. has a 1-year low of $360.36 and a 1-year high of $629.38. The company’s fifty day moving average price is $565.59 and its 200-day moving average price is $535.24.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.13. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.75 earnings per share. Equities analysts anticipate that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the sale, the chief executive officer now owns 61,863 shares in the company, valued at $35,726,501.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the sale, the chief executive officer now owns 61,863 shares in the company, valued at $35,726,501.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Roy Vallee sold 10,000 shares of Synopsys stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the completion of the sale, the director now owns 20,000 shares in the company, valued at approximately $11,453,200. The disclosure for this sale can be found here. Insiders have sold 26,832 shares of company stock worth $15,464,992 over the last 90 days. 0.66% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SNPS shares. Piper Sandler started coverage on shares of Synopsys in a research report on Thursday, April 4th. They set an “overweight” rating and a $665.00 target price for the company. Robert W. Baird increased their target price on shares of Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Rosenblatt Securities reissued a “buy” rating and set a $615.00 target price on shares of Synopsys in a research report on Thursday, March 21st. StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $660.00 price target on shares of Synopsys in a report on Friday, March 22nd. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Synopsys has a consensus rating of “Buy” and a consensus price target of $601.00.

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.