Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by 1832 Asset Management L.P.

1832 Asset Management L.P. lessened its stake in Synopsys, Inc. (NASDAQ:SNPS) by 81.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 41,911 shares of the semiconductor company’s stock after selling 184,335 shares during the quarter. 1832 Asset Management L.P.’s holdings in Synopsys were worth $23,952,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. increased its stake in Synopsys by 0.5% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 8,140 shares of the semiconductor company’s stock worth $4,191,000 after buying an additional 40 shares in the last quarter. Planned Solutions Inc. purchased a new stake in shares of Synopsys in the fourth quarter valued at approximately $108,000. Ritholtz Wealth Management grew its position in shares of Synopsys by 20.0% in the fourth quarter. Ritholtz Wealth Management now owns 1,899 shares of the semiconductor company’s stock valued at $978,000 after purchasing an additional 316 shares in the last quarter. Values First Advisors Inc. grew its position in shares of Synopsys by 8.3% in the fourth quarter. Values First Advisors Inc. now owns 774 shares of the semiconductor company’s stock valued at $399,000 after purchasing an additional 59 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. grew its position in shares of Synopsys by 11.2% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 826 shares of the semiconductor company’s stock valued at $425,000 after purchasing an additional 83 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Trading Up 1.4 %

Shares of NASDAQ:SNPS traded up $7.66 during trading on Friday, hitting $546.38. 677,583 shares of the stock were exchanged, compared to its average volume of 752,132. The company has a fifty day moving average price of $589.14 and a two-hundred day moving average price of $565.77. The company has a market cap of $83.72 billion, a PE ratio of 59.39, a P/E/G ratio of 3.53 and a beta of 1.07. Synopsys, Inc. has a 12-month low of $418.51 and a 12-month high of $629.38.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.76 EPS. Equities research analysts anticipate that Synopsys, Inc. will post 9.66 earnings per share for the current fiscal year.

Insider Activity at Synopsys

In related news, insider Geus Aart De sold 4,212 shares of the stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $600.05, for a total value of $2,527,410.60. Following the completion of the sale, the insider now directly owns 106,983 shares in the company, valued at approximately $64,195,149.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Synopsys news, insider Geus Aart De sold 4,212 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $600.05, for a total value of $2,527,410.60. Following the completion of the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $64,195,149.15. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction dated 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 directly owns 62,568 shares of the company’s stock, valued at $36,440,228.88. The disclosure for this sale can be found here. In the last three months, insiders sold 81,363 shares of company stock worth $49,361,263. Corporate insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on SNPS. Needham & Company LLC restated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research report on Thursday, May 23rd. Piper Sandler raised their target price on Synopsys from $672.00 to $687.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $615.00 price objective on shares of Synopsys in a research note on Thursday, May 23rd. KeyCorp lifted their price objective on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Finally, JPMorgan Chase & Co. lifted their target price on Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $627.18.

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.