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

Mediolanum International Funds Ltd trimmed its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 32.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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 quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SNPS. Swedbank AB acquired a new position in Synopsys during the 1st quarter valued at about $1,051,637,000. Price T Rowe Associates Inc. MD boosted its stake in Synopsys by 39.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock valued at $3,050,441,000 after purchasing an additional 1,514,449 shares during the period. GQG Partners LLC boosted its stake in Synopsys by 91.6% during the 1st quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock valued at $1,197,350,000 after purchasing an additional 1,001,371 shares during the period. Sustainable Growth Advisers LP acquired a new position in Synopsys during the 2nd quarter valued at about $572,050,000. Finally, Capital World Investors boosted its stake in Synopsys by 12.5% during the 1st quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock valued at $4,211,892,000 after purchasing an additional 818,485 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Price Performance

Synopsys stock opened at $501.58 on Friday. The firm’s 50 day simple moving average is $509.38 and its 200-day simple moving average is $545.88. The company has a market cap of $77.05 billion, a P/E ratio of 52.03, a price-to-earnings-growth ratio of 3.44 and a beta of 1.08. Synopsys, Inc. has a fifty-two week low of $448.91 and a fifty-two week high of $629.38.

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

Analyst Upgrades and Downgrades

SNPS has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target 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. Needham & Company LLC restated a “buy” rating and set a $640.00 price target on shares of Synopsys in a research report on Tuesday. Berenberg Bank initiated coverage on shares of Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target on the stock. Rosenblatt Securities restated a “buy” rating and set a $635.00 price target on shares of Synopsys in a research report on Friday, August 23rd. Finally, Robert W. Baird boosted 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. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $643.00.

Insider Activity

In related news, CEO Sassine Ghazi sold 10,293 shares of Synopsys 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 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.66% of the stock is currently owned by corporate 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.