First Citizens Bank & Trust Co. cut its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 16.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,833 shares of the semiconductor company’s stock after selling 4,195 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Synopsys were worth $1,776,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. QUANTRES ASSET MANAGEMENT Ltd purchased a new position in Synopsys in the fourth quarter valued at about $750,000. Visionary Asset Management Inc. purchased a new position in Synopsys in the third quarter valued at about $234,000. Belpointe Asset Management LLC purchased a new position in Synopsys in the third quarter valued at about $1,752,000. IFM Investors Pty Ltd purchased a new position in Synopsys in the third quarter valued at about $410,000. Finally, Alkeon Capital Management LLC boosted its stake in Synopsys by 0.4% in the third quarter. Alkeon Capital Management LLC now owns 2,460,259 shares of the semiconductor company’s stock valued at $198,125,000 after acquiring an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 90.75% of the company’s stock.

Shares of Synopsys, Inc. (NASDAQ:SNPS) opened at $89.34 on Thursday. The company has a market cap of $13,290.00, a P/E ratio of 103.88, a P/E/G ratio of 3.96 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.04 and a current ratio of 1.04. Synopsys, Inc. has a 52 week low of $59.85 and a 52 week high of $94.80.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, November 29th. The semiconductor company reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.12. The company had revenue of $696.60 million for the quarter, compared to analysts’ expectations of $650.72 million. Synopsys had a net margin of 5.01% and a return on equity of 5.78%. Synopsys’s revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.77 EPS. research analysts predict that Synopsys, Inc. will post 2.24 earnings per share for the current fiscal year.

SNPS has been the topic of a number of research analyst reports. Royal Bank of Canada upgraded shares of Synopsys from an “outperform” rating to a “top pick” rating and boosted their target price for the company from $90.00 to $100.00 in a research note on Wednesday, October 25th. DA Davidson reiterated a “buy” rating and issued a $105.00 target price (up from $91.00) on shares of Synopsys in a research note on Tuesday, November 28th. reiterated an “average” rating on shares of Synopsys in a research note on Thursday, September 14th. BidaskClub cut shares of Synopsys from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Finally, Zacks Investment Research cut shares of Synopsys from a “hold” rating to a “strong sell” rating in a research note on Monday, December 4th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $96.89.

In related news, Director Chrysostomos L. Nikias sold 21,073 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $85.88, for a total transaction of $1,809,749.24. Following the sale, the director now owns 32,466 shares of the company’s stock, valued at approximately $2,788,180.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Chi-Foon Chan sold 3,750 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $89.78, for a total transaction of $336,675.00. The disclosure for this sale can be found here. Insiders have sold a total of 60,897 shares of company stock worth $5,370,098 over the last 90 days. 1.82% of the stock is currently owned by corporate insiders.

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Synopsys Profile

Synopsys, Inc provides software, intellectual property (IP) and services. The Company supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits, also known as chips. It also offers IP products, which are pre-designed circuits that engineers use as components of larger chip designs rather than designing those circuits themselves.

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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