Shell Asset Management Co. Cuts Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Shell Asset Management Co. decreased its position in shares of Synopsys, Inc. (NASDAQ:SNPSFree Report) by 19.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,951 shares of the semiconductor company’s stock after selling 729 shares during the quarter. Shell Asset Management Co.’s holdings in Synopsys were worth $1,519,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC boosted its holdings in Synopsys by 73.1% in the third quarter. Janney Montgomery Scott LLC now owns 8,224 shares of the semiconductor company’s stock worth $3,775,000 after purchasing an additional 3,472 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Synopsys by 8.0% in the third quarter. HighTower Advisors LLC now owns 39,241 shares of the semiconductor company’s stock worth $17,894,000 after purchasing an additional 2,903 shares during the last quarter. Greenleaf Trust boosted its holdings in Synopsys by 0.7% in the third quarter. Greenleaf Trust now owns 5,962 shares of the semiconductor company’s stock worth $2,736,000 after purchasing an additional 44 shares during the last quarter. WBI Investments Inc. purchased a new position in shares of Synopsys during the 3rd quarter worth $3,809,000. Finally, Valley Wealth Managers Inc. boosted its stake in shares of Synopsys by 4.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 652 shares of the semiconductor company’s stock worth $299,000 after acquiring an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Activity

In related news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $582.41, for a total value of $5,995,328.54. Following the completion of the transaction, the chief executive officer now owns 62,568 shares in the company, valued at $36,440,228.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the completion of the transaction, the chief executive officer now owns 62,568 shares in the company, valued at approximately $36,440,228.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mercedes Johnson sold 5,500 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $581.38, for a total transaction of $3,197,590.00. Following the completion of the transaction, the director now owns 1,543 shares of the company’s stock, valued at approximately $897,069.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,352 shares of company stock valued at $12,996,801. Company insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

SNPS has been the topic of several analyst reports. Robert W. Baird lifted their price target on shares of Synopsys from $640.00 to $645.00 and gave the stock an “outperform” rating in a research note on Thursday, May 23rd. Piper Sandler restated an “overweight” rating and set a $672.00 price objective (up from $665.00) on shares of Synopsys in a research report on Thursday, May 23rd. JPMorgan Chase & Co. raised their price objective on shares of Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Rosenblatt Securities restated a “buy” rating and set a $615.00 price objective on shares of Synopsys in a research report on Thursday, May 23rd. Finally, StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Eleven equities 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 an average target price of $616.18.

View Our Latest Stock Analysis on SNPS

Synopsys Stock Up 0.8 %

Shares of NASDAQ SNPS opened at $576.18 on Tuesday. The firm has a 50-day simple moving average of $557.08 and a 200-day simple moving average of $550.86. The stock has a market capitalization of $88.28 billion, a price-to-earnings ratio of 62.63, a price-to-earnings-growth ratio of 3.69 and a beta of 1.08. Synopsys, Inc. has a 52 week low of $416.87 and a 52 week high of $629.38.

Synopsys (NASDAQ:SNPSGet Free Report) last released its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.03 by ($0.03). Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the business posted $1.76 earnings per share. Synopsys’s revenue for the quarter was up 15.2% on a year-over-year basis. As a group, equities research analysts expect that Synopsys, Inc. will post 9.66 EPS for the current year.

Synopsys Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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