Massachusetts Financial Services Co. MA Has $1.46 Billion Position in Synopsys, Inc. (NASDAQ:SNPS)

Massachusetts Financial Services Co. MA cut its stake in Synopsys, Inc. (NASDAQ:SNPS) by 0.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,450,569 shares of the semiconductor company’s stock after selling 21,345 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Synopsys were worth $1,458,236,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of SNPS. 9258 Wealth Management LLC lifted its position in Synopsys by 1.1% during the fourth quarter. 9258 Wealth Management LLC now owns 2,908 shares of the semiconductor company’s stock worth $1,497,000 after purchasing an additional 32 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Synopsys by 105.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 16,858 shares of the semiconductor company’s stock worth $8,680,000 after acquiring an additional 8,634 shares in the last quarter. Brown Advisory Inc. increased its stake in Synopsys by 6.4% in the fourth quarter. Brown Advisory Inc. now owns 2,104 shares of the semiconductor company’s stock valued at $1,083,000 after acquiring an additional 127 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Synopsys by 0.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 17,651 shares of the semiconductor company’s stock valued at $9,089,000 after purchasing an additional 104 shares in the last quarter. Finally, 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. 85.47% of the stock is currently owned by institutional investors.

Insider Transactions at Synopsys

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. KeyCorp lifted their price target on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Needham & Company LLC reissued a “buy” rating and set a $640.00 target price on shares of Synopsys in a research note on Thursday, August 22nd. JPMorgan Chase & Co. increased their target price on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Robert W. Baird lifted their price target on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $630.09.

Synopsys Stock Performance

Shares of NASDAQ SNPS opened at $490.07 on Monday. The firm has a 50 day moving average price of $536.92 and a two-hundred day moving average price of $559.22. The stock has a market cap of $75.09 billion, a P/E ratio of 53.27, a price-to-earnings-growth ratio of 3.23 and a beta of 1.08. Synopsys, Inc. has a 52-week low of $440.62 and a 52-week high of $629.38.

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