Tredje AP fonden Acquires 12,000 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Tredje AP fonden increased its stake in Synopsys, Inc. (NASDAQ:SNPS) by 12.9% during the 2nd quarter, Holdings Channel reports. The firm owned 104,854 shares of the semiconductor company’s stock after purchasing an additional 12,000 shares during the quarter. Tredje AP fonden’s holdings in Synopsys were worth $62,394,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of SNPS. 9258 Wealth Management LLC lifted its holdings in shares of Synopsys by 1.1% during the 4th quarter. 9258 Wealth Management LLC now owns 2,908 shares of the semiconductor company’s stock worth $1,497,000 after acquiring an additional 32 shares during the last quarter. Brown Advisory Inc. lifted its stake in Synopsys by 6.4% during the fourth quarter. Brown Advisory Inc. now owns 2,104 shares of the semiconductor company’s stock worth $1,083,000 after purchasing an additional 127 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Synopsys by 0.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 17,651 shares of the semiconductor company’s stock worth $9,089,000 after purchasing an additional 104 shares in the last quarter. Coldstream Capital Management Inc. increased its position in shares of Synopsys by 0.8% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,195 shares of the semiconductor company’s stock valued at $1,130,000 after purchasing an additional 18 shares during the last quarter. Finally, Balentine LLC raised its holdings in shares of Synopsys by 69.7% during the 4th quarter. Balentine LLC now owns 1,648 shares of the semiconductor company’s stock valued at $849,000 after buying an additional 677 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now 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 available through the SEC website. In other Synopsys 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 transaction of $5,701,189.77. Following the sale, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Geus Aart De sold 4,212 shares of the stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $600.05, for a total value of $2,527,410.60. Following the sale, the insider now directly owns 106,983 shares in the company, valued at $64,195,149.15. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,687 shares of company stock valued at $44,616,637. 0.66% of the stock is currently owned by company insiders.

Synopsys Trading Up 0.7 %

Shares of SNPS opened at $502.25 on Wednesday. Synopsys, Inc. has a 1-year low of $440.62 and a 1-year high of $629.38. The firm has a market capitalization of $76.95 billion, a price-to-earnings ratio of 54.59, a PEG ratio of 3.23 and a beta of 1.08. The firm’s 50-day moving average price is $532.47 and its 200-day moving average price is $558.06.

Synopsys (NASDAQ:SNPS) last posted its 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. The firm had revenue of $1.53 billion for 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%. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.17 EPS. On average, research analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SNPS has been the topic of several research reports. JPMorgan Chase & Co. lifted their price target 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. KeyCorp raised their price objective on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Robert W. Baird increased their target price on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research report on Friday, August 23rd. Finally, Piper Sandler restated an “overweight” rating and issued a $687.00 target price on shares of Synopsys in a report on Thursday, August 22nd. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Synopsys has an average rating of “Buy” and an average price target of $630.09.

Synopsys 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.