Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Avanza Fonder AB

Avanza Fonder AB reduced its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 11.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,875 shares of the semiconductor company's stock after selling 1,419 shares during the period. Avanza Fonder AB's holdings in Synopsys were worth $4,769,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Ameriflex Group Inc. acquired a new position in Synopsys in the fourth quarter valued at approximately $29,000. Whipplewood Advisors LLC acquired a new position in Synopsys during the fourth quarter worth $33,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Synopsys during the fourth quarter worth $34,000. Sierra Ocean LLC purchased a new stake in shares of Synopsys during the fourth quarter worth $39,000. Finally, Hazlett Burt & Watson Inc. increased its position in shares of Synopsys by 28.6% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after acquiring an additional 20 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Performance

Shares of SNPS stock traded down $16.13 during mid-day trading on Friday, hitting $478.86. 1,162,459 shares of the stock were exchanged, compared to its average volume of 1,158,402. The stock's fifty day simple moving average is $466.31 and its two-hundred day simple moving average is $481.83. The stock has a market capitalization of $74.30 billion, a price-to-earnings ratio of 32.98, a P/E/G ratio of 3.23 and a beta of 1.11. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $624.80.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.27. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.60 billion. Synopsys had a return on equity of 20.48% and a net margin of 36.12%. The business's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the company posted $3.00 earnings per share. On average, research analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

SNPS has been the topic of a number of recent research reports. KeyCorp set a $540.00 price objective on Synopsys in a research report on Tuesday, June 3rd. Needham & Company LLC reaffirmed a "buy" rating and set a $650.00 price objective on shares of Synopsys in a research report on Thursday, May 29th. Piper Sandler reissued an "overweight" rating and issued a $615.00 target price (down previously from $653.00) on shares of Synopsys in a report on Thursday, May 29th. Mizuho dropped their target price on Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, Wells Fargo & Company dropped their target price on Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $607.14.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $457.93, for a total transaction of $5,204,832.38. Following the transaction, the chief executive officer now owns 71,589 shares of the company's stock, valued at $32,782,750.77. This trade represents a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Shelagh Glaser sold 7,310 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $485.72, for a total value of $3,550,613.20. Following the transaction, the chief financial officer now directly owns 15,291 shares in the company, valued at approximately $7,427,144.52. This represents a 32.34% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company's stock.

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.