Railway Pension Investments Ltd Sells 100 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Railway Pension Investments Ltd decreased its stake in Synopsys, Inc. (NASDAQ:SNPS) by 0.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 153,525 shares of the semiconductor company’s stock after selling 100 shares during the period. Railway Pension Investments Ltd owned about 0.10% of Synopsys worth $87,740,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Kingsview Wealth Management LLC purchased a new stake in shares of Synopsys in the 1st quarter valued at $239,000. abrdn plc grew its stake in shares of Synopsys by 56.9% during the fourth quarter. abrdn plc now owns 84,369 shares of the semiconductor company’s stock valued at $43,442,000 after buying an additional 30,581 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new position in shares of Synopsys in the first quarter worth about $218,000. Bridgefront Capital LLC bought a new stake in shares of Synopsys in the 4th quarter valued at about $951,000. Finally, Vanguard Group Inc. boosted its holdings in Synopsys by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 13,551,092 shares of the semiconductor company’s stock valued at $6,977,593,000 after acquiring an additional 203,601 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SNPS. Needham & Company LLC reaffirmed a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research note on Thursday, May 23rd. Piper Sandler increased their price objective on Synopsys from $672.00 to $687.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. KeyCorp lifted their price objective on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Rosenblatt Securities restated a “buy” rating and set a $615.00 target price on shares of Synopsys in a report on Thursday, May 23rd. Finally, Robert W. Baird lifted their price target on shares of Synopsys from $645.00 to $661.00 and gave the company an “outperform” rating in a report on Tuesday, July 2nd. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $627.18.

Synopsys Stock Down 6.5 %

SNPS traded down $34.89 during midday trading on Friday, hitting $505.78. 2,843,665 shares of the company traded hands, compared to its average volume of 865,666. The company’s 50-day moving average is $584.85 and its 200 day moving average is $566.61. Synopsys, Inc. has a 52 week low of $418.51 and a 52 week high of $629.38. The firm has a market capitalization of $77.50 billion, a PE ratio of 54.98, a price-to-earnings-growth ratio of 3.49 and a beta of 1.07.

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). Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the company earned $1.76 earnings per share. Synopsys’s quarterly revenue was up 15.2% compared to the same quarter last year. On average, sell-side analysts predict that Synopsys, Inc. will post 9.66 earnings per share for the current fiscal year.

Insider Activity

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

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.