William Blair Investment Management LLC Has $43.30 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

William Blair Investment Management LLC lessened its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 34.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,772 shares of the semiconductor company’s stock after selling 38,957 shares during the period. William Blair Investment Management LLC’s holdings in Synopsys were worth $43,304,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in SNPS. Coldstream Capital Management Inc. lifted its stake 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 during the last quarter. Andina Capital Management LLC lifted its position in shares of Synopsys by 2.8% during the 2nd 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 last quarter. Cascade Financial Partners LLC boosted its stake 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 buying an additional 18 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its stake in Synopsys by 40.0% in 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 grew its position in Synopsys by 3.5% in the first quarter. Ignite Planners LLC now owns 596 shares of the semiconductor company’s stock valued at $344,000 after acquiring an additional 20 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. KeyCorp increased their target price on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Rosenblatt Securities restated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research report on Friday, August 23rd. JPMorgan Chase & Co. boosted their target price on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Thursday, August 22nd. Finally, Piper Sandler restated an “overweight” rating and set a $687.00 price objective 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, Synopsys has a consensus rating of “Buy” and an average target price of $630.09.

Synopsys Trading Up 0.2 %

NASDAQ SNPS opened at $490.07 on Friday. The firm has a market capitalization of $75.28 billion, a PE ratio of 53.27, a price-to-earnings-growth ratio of 3.18 and a beta of 1.08. The business’s 50-day moving average price is $536.92 and its two-hundred day moving average price is $559.29. Synopsys, Inc. has a 12 month low of $440.62 and a 12 month high of $629.38.

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

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction 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 owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Geus Aart De sold 8,158 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $602.59, for a total transaction of $4,915,929.22. Following the sale, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $64,466,885.97. The disclosure for this sale can be found here. Insiders sold 73,687 shares of company stock valued at $44,616,637 over the last quarter. Insiders own 0.66% of the company’s stock.

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.