Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,909 shares of the semiconductor company’s stock after selling 406 shares during the period. Mutual of America Capital Management LLC’s holdings in Synopsys were worth $10,082,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SNPS. ORG Partners LLC grew its holdings in Synopsys by 600.0% during the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 36 shares during the period. Pacifica Partners Inc. purchased a new stake in shares of Synopsys during the 3rd quarter worth $25,000. Tsfg LLC grew its stake in shares of Synopsys by 75.0% during the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 24 shares during the period. Chris Bulman Inc purchased a new position in shares of Synopsys in the 2nd quarter valued at about $30,000. Finally, Hazlett Burt & Watson Inc. lifted its stake 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 purchasing an additional 20 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Trading Down 5.0 %

Synopsys stock opened at $520.75 on Monday. The stock has a 50-day moving average price of $514.14 and a 200 day moving average price of $545.51. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. The stock has a market cap of $79.99 billion, a PE ratio of 54.02, a P/E/G ratio of 3.18 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.15. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.17 earnings per share. On average, equities analysts predict that Synopsys, Inc. will post 9.45 EPS for the current year.

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SNPS has been the topic of several recent analyst reports. Rosenblatt Securities restated a “buy” rating and set a $635.00 target price on shares of Synopsys in a research report on Friday, August 23rd. JPMorgan Chase & Co. raised their price objective on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Piper Sandler decreased their target price on Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Needham & Company LLC restated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research report on Tuesday, October 22nd. Finally, Loop Capital started coverage on shares of Synopsys in a research report on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective on the stock. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Synopsys has an average rating of “Buy” and a consensus target price 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.