Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Ninety One UK Ltd

Ninety One UK Ltd cut its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 9.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 439,281 shares of the semiconductor company’s stock after selling 43,622 shares during the period. Ninety One UK Ltd owned about 0.29% of Synopsys worth $226,190,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Cibc World Market Inc. boosted its stake in Synopsys by 58.8% during the 1st quarter. Cibc World Market Inc. now owns 11,893 shares of the semiconductor company’s stock valued at $3,964,000 after purchasing an additional 4,402 shares during the period. Prudential PLC purchased a new position in Synopsys during the first quarter valued at approximately $993,000. Sequoia Financial Advisors LLC bought a new stake in Synopsys in the first quarter worth approximately $240,000. Covestor Ltd lifted its stake in shares of Synopsys by 18.9% in the first quarter. Covestor Ltd now owns 271 shares of the semiconductor company’s stock worth $90,000 after buying an additional 43 shares during the last quarter. Finally, Mather Group LLC. lifted its stake in shares of Synopsys by 64.4% in the first quarter. Mather Group LLC. now owns 1,680 shares of the semiconductor company’s stock worth $560,000 after buying an additional 658 shares during the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Stock Performance

SNPS traded down $6.61 during trading on Thursday, reaching $520.97. 636,938 shares of the company’s stock were exchanged, compared to its average volume of 1,235,373. The company’s fifty day moving average price is $568.97 and its 200-day moving average price is $533.52. Synopsys, Inc. has a fifty-two week low of $360.36 and a fifty-two week high of $629.38. The firm has a market capitalization of $79.45 billion, a PE ratio of 58.10, a P/E/G ratio of 3.16 and a beta of 1.06.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.13. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.75 EPS. Research analysts forecast that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal year.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the transaction, the chief executive officer now directly owns 61,863 shares of the company’s stock, valued at $35,726,501.13. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Roy Vallee sold 10,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $572.66, for a total value of $5,726,600.00. Following the sale, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $11,453,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the completion of the sale, the chief executive officer now directly owns 61,863 shares in the company, valued at $35,726,501.13. The disclosure for this sale can be found here. Insiders have sold a total of 26,832 shares of company stock valued at $15,464,992 over the last three months. 0.66% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SNPS has been the subject of a number of recent research reports. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $615.00 target price on shares of Synopsys in a report on Thursday, March 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $660.00 target price on shares of Synopsys in a report on Friday, March 22nd. Piper Sandler initiated coverage on shares of Synopsys in a report on Thursday, April 4th. They set an “overweight” rating and a $665.00 price objective on the stock. Finally, Robert W. Baird increased their price objective on shares of Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, Synopsys has an average rating of “Buy” and a consensus price target of $601.00.

Synopsys Company 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.