Merlin Capital Inc Sells 95 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Merlin Capital Inc decreased its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 8.7% in the 4th quarter, HoldingsChannel reports. The firm owned 1,001 shares of the semiconductor company’s stock after selling 95 shares during the quarter. Merlin Capital Inc’s holdings in Synopsys were worth $515,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of SNPS. DAVENPORT & Co LLC acquired a new position in Synopsys in the third quarter valued at about $208,000. Ballentine Partners LLC grew its position in Synopsys by 10.4% during the third quarter. Ballentine Partners LLC now owns 617 shares of the semiconductor company’s stock worth $283,000 after buying an additional 58 shares in the last quarter. Valeo Financial Advisors LLC acquired a new stake in Synopsys during the third quarter worth approximately $243,000. Commonwealth Equity Services LLC lifted its stake in Synopsys by 5.6% during the third quarter. Commonwealth Equity Services LLC now owns 6,387 shares of the semiconductor company’s stock worth $2,932,000 after purchasing an additional 337 shares during the last quarter. Finally, Accurate Wealth Management LLC lifted its stake in shares of Synopsys by 16.2% in the 3rd quarter. Accurate Wealth Management LLC now owns 689 shares of the semiconductor company’s stock valued at $339,000 after acquiring an additional 96 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling

In other Synopsys news, insider John F. Runkel, Jr. sold 1,219 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total transaction of $711,835.05. Following the transaction, the insider now owns 26,780 shares in the company, valued at approximately $15,638,181. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider John F. Runkel, Jr. sold 1,219 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total transaction of $711,835.05. Following the sale, the insider now directly owns 26,780 shares of the company’s stock, valued at $15,638,181. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following 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 sold a total of 26,832 shares of company stock worth $15,464,992 in the last 90 days. 0.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SNPS shares. StockNews.com raised Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Robert W. Baird raised their price target on shares of Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Piper Sandler started coverage on shares of Synopsys in a report on Thursday, April 4th. They issued an “overweight” rating and a $665.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research note on Friday, March 22nd. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $615.00 price objective on shares of Synopsys in a research note on Thursday, March 21st. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $601.00.

Synopsys Stock Down 1.7 %

NASDAQ:SNPS traded down $9.15 during mid-day trading on Tuesday, hitting $535.61. 272,636 shares of the stock traded hands, compared to its average volume of 1,218,418. The stock has a market capitalization of $81.68 billion, a price-to-earnings ratio of 60.00, a PEG ratio of 3.18 and a beta of 1.06. Synopsys, Inc. has a 52 week low of $365.46 and a 52 week high of $629.38. The firm’s 50 day moving average is $563.56 and its two-hundred day moving average is $536.92.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.13. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the previous year, the company earned $1.75 EPS. The firm’s quarterly revenue was up 21.1% on a year-over-year basis. As a group, research analysts predict that Synopsys, Inc. will post 9.78 EPS for the current year.

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.