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

Private Advisor Group LLC decreased its position in shares of Synopsys, Inc. (NASDAQ:SNPSFree Report) by 6.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,283 shares of the semiconductor company’s stock after selling 289 shares during the quarter. Private Advisor Group LLC’s holdings in Synopsys were worth $2,447,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SNPS. Norges Bank purchased a new position in shares of Synopsys during the 4th quarter valued at approximately $1,272,143,000. Global Assets Advisory LLC purchased a new position in Synopsys in the 1st quarter valued at $282,876,000. Wellington Management Group LLP lifted its holdings in Synopsys by 228.8% in the 3rd quarter. Wellington Management Group LLP now owns 386,773 shares of the semiconductor company’s stock valued at $177,517,000 after purchasing an additional 269,130 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Synopsys by 25.0% in the 1st quarter. Van ECK Associates Corp now owns 1,162,107 shares of the semiconductor company’s stock valued at $664,145,000 after purchasing an additional 232,731 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Synopsys by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 13,551,092 shares of the semiconductor company’s stock valued at $6,977,593,000 after purchasing an additional 203,601 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Performance

Shares of Synopsys stock opened at $615.49 on Tuesday. Synopsys, Inc. has a one year low of $418.51 and a one year high of $629.38. The company has a market cap of $94.31 billion, a PE ratio of 66.90, a P/E/G ratio of 4.01 and a beta of 1.07. The business has a 50-day simple moving average of $579.36 and a 200-day simple moving average of $558.60.

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

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the completion of the sale, the chief executive officer now owns 62,568 shares in the company, valued at $36,440,228.88. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the completion of the sale, the chief executive officer now owns 62,568 shares in the company, valued at $36,440,228.88. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Geus Aart De sold 2,789 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $610.94, for a total value of $1,703,911.66. Following the completion of the sale, the insider now owns 106,983 shares of the company’s stock, valued at approximately $65,360,194.02. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,021 shares of company stock valued at $23,140,653. 0.66% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Robert W. Baird lifted their price target on Synopsys from $645.00 to $661.00 and gave the stock an “outperform” rating in a report on Tuesday, July 2nd. Piper Sandler reissued 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. Rosenblatt Securities reissued a “buy” rating and set a $615.00 price objective on shares of Synopsys in a research report on Thursday, May 23rd. StockNews.com raised Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Finally, JPMorgan Chase & Co. raised their price objective on Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $625.82.

Check Out Our Latest Report on SNPS

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.

Further Reading

Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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