DekaBank Deutsche Girozentrale Sells 13,724 Shares of Synopsys, Inc. (NASDAQ:SNPS)

DekaBank Deutsche Girozentrale lowered its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 8.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 146,449 shares of the semiconductor company’s stock after selling 13,724 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.10% of Synopsys worth $87,444,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Ratings Changes

Several research firms recently weighed in on SNPS. JPMorgan Chase & Co. lifted their price objective on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. KeyCorp lifted their price objective on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Piper Sandler restated an “overweight” rating and issued a $687.00 price objective on shares of Synopsys in a report on Thursday, August 22nd. Needham & Company LLC restated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a report on Thursday, August 22nd. Finally, Robert W. Baird boosted their target price on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $630.09.

Synopsys Stock Performance

Shares of SNPS stock opened at $490.07 on Friday. Synopsys, Inc. has a fifty-two week low of $440.62 and a fifty-two week high of $629.38. The firm has a market capitalization of $75.28 billion, a price-to-earnings ratio of 53.27, a PEG ratio of 3.18 and a beta of 1.08. The stock’s 50-day simple moving average is $536.92 and its 200-day simple moving average is $559.39.

Synopsys (NASDAQ:SNPS) last issued 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 business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the previous year, the firm earned $2.17 earnings per share. The company’s revenue was up 12.7% on a year-over-year basis. As a group, equities analysts forecast that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Insider Activity at Synopsys

In related news, insider Geus Aart De sold 4,212 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $600.05, for a total value of $2,527,410.60. Following the sale, the insider now owns 106,983 shares in the company, valued at $64,195,149.15. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Geus Aart De sold 4,212 shares of the firm’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $600.05, for a total value of $2,527,410.60. Following the completion of the sale, the insider now directly owns 106,983 shares of the company’s stock, valued at $64,195,149.15. The disclosure for this sale can be found here. Insiders have sold a total of 73,687 shares of company stock worth $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.