Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd decreased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 32.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,909 shares of the semiconductor company’s stock after selling 12,043 shares during the period. Mediolanum International Funds Ltd’s holdings in Synopsys were worth $12,765,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SNPS. Vanguard Group Inc. increased its position in shares of Synopsys by 2.1% in the first 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 in the last quarter. Capital World Investors increased its position in shares of Synopsys by 12.5% in the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock worth $4,211,892,000 after acquiring an additional 818,485 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Synopsys by 39.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock worth $3,050,441,000 after acquiring an additional 1,514,449 shares in the last quarter. GQG Partners LLC increased its position in shares of Synopsys by 91.6% in the first 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 in the last quarter. Finally, Swedbank AB increased its position in shares of Synopsys by 1.4% in the second quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock worth $1,110,461,000 after acquiring an additional 25,999 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Price Performance

NASDAQ SNPS opened at $501.58 on Friday. Synopsys, Inc. has a 12 month low of $448.91 and a 12 month high of $629.38. The company has a market capitalization of $77.05 billion, a price-to-earnings ratio of 52.03, a price-to-earnings-growth ratio of 3.44 and a beta of 1.08. The company’s fifty day moving average price is $509.38 and its two-hundred day moving average price is $545.88.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the prior year, the firm posted $2.17 EPS. The firm’s revenue was up 12.7% compared to the same quarter last year. As a group, analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current year.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of the firm’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 transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SNPS shares. JPMorgan Chase & Co. increased their price objective on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Berenberg Bank started coverage on shares of Synopsys in a research report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective for the company. Piper Sandler decreased their target price on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research note on Thursday. Robert W. Baird upped their target price on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Finally, Rosenblatt Securities restated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research note on Friday, August 23rd. Twelve analysts have rated the stock with a buy rating, According to MarketBeat, Synopsys presently has an average rating of “Buy” and a consensus price target of $643.00.

Synopsys Company 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.