GF Fund Management CO. LTD. Buys Shares of 85,353 Synopsys, Inc. (NASDAQ:SNPS)

GF Fund Management CO. LTD. bought a new stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 85,353 shares of the semiconductor company's stock, valued at approximately $41,427,000. Synopsys accounts for about 0.9% of GF Fund Management CO. LTD.'s portfolio, making the stock its 18th biggest position. GF Fund Management CO. LTD. owned 0.06% of Synopsys at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Advisory Alpha LLC grew its stake in Synopsys by 3.8% during the fourth quarter. Advisory Alpha LLC now owns 691 shares of the semiconductor company's stock worth $335,000 after buying an additional 25 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in Synopsys by 8.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 50,278 shares of the semiconductor company's stock worth $24,403,000 after buying an additional 3,771 shares during the last quarter. Mutual Advisors LLC grew its stake in Synopsys by 3.6% during the fourth quarter. Mutual Advisors LLC now owns 968 shares of the semiconductor company's stock worth $499,000 after buying an additional 34 shares during the last quarter. Brighton Jones LLC grew its stake in Synopsys by 5.7% during the fourth quarter. Brighton Jones LLC now owns 921 shares of the semiconductor company's stock worth $447,000 after buying an additional 50 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its stake in Synopsys by 78.3% during the fourth quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 21,305 shares of the semiconductor company's stock worth $10,370,000 after buying an additional 9,357 shares during the last quarter. Institutional investors own 85.47% of the company's stock.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the transaction, the chief executive officer now directly owns 70,922 shares in the company, valued at approximately $32,890,077.50. This represents a 13.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Geus Aart De sold 15,705 shares of the company's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the completion of the sale, the insider now directly owns 116,671 shares in the company, valued at approximately $51,850,925.82. This represents a 11.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by insiders.

Synopsys Stock Down 3.0%

NASDAQ SNPS traded down $13.69 during trading hours on Thursday, hitting $448.74. The company's stock had a trading volume of 1,510,209 shares, compared to its average volume of 1,124,196. The stock has a fifty day moving average of $453.45 and a 200 day moving average of $487.42. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $624.80. The firm has a market capitalization of $69.38 billion, a P/E ratio of 31.92, a PEG ratio of 3.23 and a beta of 1.16.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SNPS shares. Piper Sandler reduced their target price on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. KeyCorp set a $575.00 target price on shares of Synopsys and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. Mizuho reduced their target price on shares of Synopsys from $650.00 to $600.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Needham & Company LLC reiterated a "buy" rating and set a $650.00 target price on shares of Synopsys in a research report on Thursday. Finally, Rosenblatt Securities reduced their target price on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating on the stock in a research report on Thursday. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $612.36.

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.