Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Natixis

Natixis trimmed its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 46.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,470 shares of the semiconductor company’s stock after selling 15,832 shares during the quarter. Natixis’ holdings in Synopsys were worth $10,556,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in SNPS. Norges Bank acquired a new stake in Synopsys during the 4th quarter worth approximately $1,272,143,000. GQG Partners LLC lifted its position in Synopsys by 91.6% during the 1st quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock worth $1,197,350,000 after acquiring an additional 1,001,371 shares during the period. Global Assets Advisory LLC acquired a new stake in Synopsys during the 1st quarter worth approximately $282,876,000. Vanguard Group Inc. lifted its position in Synopsys by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 13,829,357 shares of the semiconductor company’s stock worth $7,903,478,000 after acquiring an additional 278,265 shares during the period. Finally, Van ECK Associates Corp lifted its position in Synopsys by 25.0% during the 1st quarter. Van ECK Associates Corp now owns 1,162,107 shares of the semiconductor company’s stock worth $664,145,000 after acquiring an additional 232,731 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SNPS has been the subject of several recent analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $615.00 price target on shares of Synopsys in a report on Thursday, May 23rd. Needham & Company LLC reissued a “buy” rating and issued a $660.00 price target on shares of Synopsys in a report on Thursday, May 23rd. Robert W. Baird raised their price target on Synopsys from $645.00 to $661.00 and gave the company an “outperform” rating in a report on Tuesday, July 2nd. JPMorgan Chase & Co. raised their price target on Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Finally, Piper Sandler raised their price target on Synopsys from $672.00 to $687.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Synopsys currently has a consensus rating of “Buy” and an average target price of $627.18.

Insiders Place Their Bets

In other Synopsys news, insider Geus Aart De sold 493 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $620.60, for a total transaction of $305,955.80. Following the completion of the transaction, the insider now owns 106,983 shares of the company’s stock, valued at $66,393,649.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction on Friday, May 24th. The stock was sold at an average price of $582.41, for a total value of $5,995,328.54. Following the completion of the sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $36,440,228.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Geus Aart De sold 493 shares of Synopsys stock in a transaction on Monday, July 15th. The shares were sold at an average price of $620.60, for a total value of $305,955.80. Following the completion of the sale, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $66,393,649.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 81,363 shares of company stock valued at $49,361,263. Corporate insiders own 0.66% of the company’s stock.

Synopsys Stock Down 2.6 %

NASDAQ SNPS traded down $14.61 during mid-day trading on Thursday, hitting $538.72. The stock had a trading volume of 1,269,010 shares, compared to its average volume of 1,060,069. Synopsys, Inc. has a 52-week low of $418.51 and a 52-week high of $629.38. The company has a market cap of $82.54 billion, a price-to-earnings ratio of 59.29, a P/E/G ratio of 3.80 and a beta of 1.07. The company has a 50 day simple moving average of $590.16 and a 200 day simple moving average of $565.19.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share for the quarter, missing the consensus estimate of $3.03 by ($0.03). The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The business’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.76 EPS. As a group, equities analysts anticipate that Synopsys, Inc. will post 9.66 earnings per share for the current fiscal 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.