Synopsys, Inc. (NASDAQ:SNPS) Stock Position Trimmed by ING Groep NV

ING Groep NV trimmed its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 54.0% in the third quarter, HoldingsChannel reports. The firm owned 9,215 shares of the semiconductor company’s stock after selling 10,806 shares during the period. ING Groep NV’s holdings in Synopsys were worth $4,666,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Andina Capital Management LLC raised its stake in shares of Synopsys by 2.8% during the second quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock valued at $395,000 after purchasing an additional 18 shares in the last quarter. Cascade Financial Partners LLC lifted its stake in shares of Synopsys by 4.9% in the 2nd quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock worth $232,000 after acquiring an additional 18 shares during the period. Tocqueville Asset Management L.P. boosted its holdings in shares of Synopsys by 0.9% in the first quarter. Tocqueville Asset Management L.P. now owns 2,134 shares of the semiconductor company’s stock valued at $1,220,000 after acquiring an additional 20 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its holdings in shares of Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 20 shares in the last quarter. Finally, Hilltop National Bank increased its stake in shares of Synopsys by 6.0% during the second quarter. Hilltop National Bank now owns 370 shares of the semiconductor company’s stock valued at $220,000 after acquiring an additional 21 shares during the period. Institutional investors own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value of $5,701,189.77. Following the completion of the sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The trade was a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.66% of the stock is currently owned by company insiders.

Synopsys Trading Down 5.0 %

SNPS opened at $520.75 on Friday. The stock has a fifty day moving average price of $513.01 and a 200 day moving average price of $545.41. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38. The stock has a market cap of $79.99 billion, a price-to-earnings ratio of 54.02, a PEG ratio of 3.40 and a beta of 1.08.

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SNPS shares. Loop Capital assumed coverage on Synopsys in a research note on Monday, November 11th. They set a “buy” rating and a $675.00 price target for the company. JPMorgan Chase & Co. lifted their price target on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Piper Sandler dropped their price target on Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. Finally, Berenberg Bank initiated coverage on shares of Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective on the stock. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $649.82.

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.