E Fund Management Co. Ltd. Trims Stake in Synopsys, Inc. (NASDAQ:SNPS)

Key Points

• E Fund Management Co. Ltd. reduced its stake in Synopsys, Inc. by 6.0%, selling 462 shares and leaving them with a total of 7,207 shares valued at approximately $3,091,000.
• Numerous institutional investors, including Advisors Capital Management LLC and Trust Asset Management LLC, have recently adjusted their positions in Synopsys, contributing to a total institutional ownership of 85.47%.
• Analysts have varied opinions on Synopsys, with price targets ranging from $600.00 to $660.00 and a consensus rating of "Moderate Buy," indicating strong investor interest in the stock.

E Fund Management Co. Ltd. reduced its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 6.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,207 shares of the semiconductor company's stock after selling 462 shares during the period. E Fund Management Co. Ltd.'s holdings in Synopsys were worth $3,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of Synopsys by 5.7% in the fourth quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company's stock valued at $447,000 after purchasing an additional 50 shares during the period. Rockefeller Capital Management L.P. increased its holdings in shares of Synopsys by 8.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 24,418 shares of the semiconductor company's stock valued at $11,859,000 after purchasing an additional 1,836 shares during the period. Sagespring Wealth Partners LLC acquired a new position in shares of Synopsys in the fourth quarter valued at about $606,000. Advisors Capital Management LLC increased its holdings in shares of Synopsys by 2.3% in the fourth quarter. Advisors Capital Management LLC now owns 840 shares of the semiconductor company's stock valued at $408,000 after purchasing an additional 19 shares during the period. Finally, Mariner LLC increased its holdings in shares of Synopsys by 5.6% in the fourth quarter. Mariner LLC now owns 129,461 shares of the semiconductor company's stock valued at $62,839,000 after purchasing an additional 6,920 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SNPS. Bank of America increased their price objective on Synopsys from $575.00 to $625.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Piper Sandler increased their price objective on Synopsys from $615.00 to $660.00 and gave the company an "overweight" rating in a report on Monday, July 21st. KeyCorp increased their price objective on Synopsys from $540.00 to $610.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Morgan Stanley restated an "overweight" rating and issued a $715.00 target price (up previously from $540.00) on shares of Synopsys in a research note on Monday. Finally, Needham & Company LLC restated a "buy" rating and issued a $660.00 target price (up previously from $650.00) on shares of Synopsys in a research note on Tuesday, July 15th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Synopsys has a consensus rating of "Moderate Buy" and an average target price of $630.67.

Synopsys Stock Down 0.4%

SNPS traded down $2.21 on Thursday, hitting $616.36. 953,716 shares of the company were exchanged, compared to its average volume of 1,788,190. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $651.73. The company has a market cap of $95.63 billion, a price-to-earnings ratio of 44.50, a price-to-earnings-growth ratio of 4.09 and a beta of 1.15. The company has a current ratio of 7.02, a quick ratio of 6.85 and a debt-to-equity ratio of 1.01. The firm has a 50-day moving average price of $556.26 and a two-hundred day moving average price of $497.32.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, topping the consensus estimate of $3.40 by $0.27. Synopsys had a return on equity of 17.09% and a net margin of 34.77%. The firm had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.60 billion. During the same period in the previous year, the firm posted $3.00 EPS. Synopsys's revenue for the quarter was up 10.3% on a year-over-year basis. On average, equities analysts predict that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Insider Buying and Selling

In other Synopsys news, CRO Richard S. Mahoney sold 9,010 shares of Synopsys stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $471.21, for a total transaction of $4,245,602.10. Following the completion of the sale, the executive directly owned 1,485 shares of the company's stock, valued at $699,746.85. The trade was a 85.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sassine Ghazi sold 11,366 shares of Synopsys stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $457.93, for a total value of $5,204,832.38. Following the sale, the chief executive officer directly owned 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 disclosure for this sale can be found here. Insiders sold 27,686 shares of company stock valued at $13,001,048 in the last three months. 0.62% of the stock is 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.