Meiji Yasuda Asset Management Co Ltd. Sells 2,863 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Meiji Yasuda Asset Management Co Ltd. lessened its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 16.3% in the second quarter, Holdings Channel.com reports. The fund owned 14,686 shares of the semiconductor company’s stock after selling 2,863 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Synopsys were worth $8,739,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SNPS. ORG Partners LLC grew its stake in shares of Synopsys by 600.0% during the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 36 shares during the period. University of Texas Texas AM Investment Managment Co. acquired a new position in Synopsys in the fourth quarter valued at about $28,000. Chris Bulman Inc bought a new position in Synopsys during the second quarter worth about $30,000. Jones Financial Companies Lllp grew its position in shares of Synopsys by 233.3% during the 4th quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock worth $31,000 after buying an additional 42 shares during the period. Finally, Fortitude Family Office LLC increased its stake in shares of Synopsys by 66.7% in the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 24 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

SNPS stock opened at $502.25 on Wednesday. The stock has a market capitalization of $76.95 billion, a P/E ratio of 54.59, a P/E/G ratio of 3.23 and a beta of 1.08. Synopsys, Inc. has a fifty-two week low of $440.62 and a fifty-two week high of $629.38. The business has a 50-day moving average of $532.47 and a 200-day moving average of $558.06.

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SNPS. JPMorgan Chase & Co. lifted their price objective 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. Robert W. Baird lifted their price target on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Needham & Company LLC reissued a “buy” rating and issued a $640.00 price target on shares of Synopsys in a report on Thursday, August 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $687.00 price objective on shares of Synopsys in a research note on Thursday, August 22nd. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Synopsys presently has an average rating of “Buy” and a consensus target price of $630.09.

Insider Activity at Synopsys

In related 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 completion of the transaction, the chief executive officer now directly 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 the SEC website. In related news, insider Geus Aart De sold 8,158 shares of the business’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 transaction, the insider now directly owns 106,983 shares in the company, valued at $64,466,885.97. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sassine Ghazi sold 10,293 shares of the 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 completion of the sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,687 shares of company stock valued at $44,616,637. 0.66% of the stock is owned by insiders.

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.