Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lessened its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 8.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 146,449 shares of the semiconductor company’s stock after selling 13,724 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Synopsys were worth $87,444,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. boosted its position in Synopsys by 0.8% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,195 shares of the semiconductor company’s stock worth $1,130,000 after purchasing an additional 18 shares in the last quarter. Andina Capital Management LLC boosted its position in shares of Synopsys by 2.8% in the second quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock worth $395,000 after buying an additional 18 shares during the period. Cascade Financial Partners LLC boosted its holdings in Synopsys by 4.9% in the second quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock valued at $232,000 after purchasing an additional 18 shares during the last quarter. Hazlett Burt & Watson Inc. raised its stake in Synopsys by 40.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $40,000 after buying an additional 20 shares in the last quarter. Finally, Ignite Planners LLC raised its stake in Synopsys by 3.5% during the first quarter. Ignite Planners LLC now owns 596 shares of the semiconductor company’s stock valued at $344,000 after buying an additional 20 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Performance

Shares of NASDAQ:SNPS opened at $490.07 on Friday. Synopsys, Inc. has a 52-week low of $440.62 and a 52-week high of $629.38. The company has a market capitalization of $75.28 billion, a P/E ratio of 53.27, a price-to-earnings-growth ratio of 3.18 and a beta of 1.08. The company has a 50-day simple moving average of $536.92 and a 200 day simple moving average of $559.39.

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

Insider Activity

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were 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 directly owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the sale, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Geus Aart De sold 493 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $620.60, for a total transaction of $305,955.80. Following the sale, the insider now owns 106,983 shares in the company, valued at $66,393,649.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 73,687 shares of company stock worth $44,616,637. Company insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

SNPS has been the topic of a number of research reports. Piper Sandler reiterated an “overweight” rating and set a $687.00 price target on shares of Synopsys in a research report on Thursday, August 22nd. Robert W. Baird increased their price target on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Rosenblatt Securities reiterated a “buy” rating and set a $635.00 price target on shares of Synopsys in a research report on Friday, August 23rd. KeyCorp raised their target price on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Finally, Needham & Company LLC restated a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research report on Thursday, August 22nd. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $630.09.

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.