Rheos Capital Works Inc. Lowers Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Rheos Capital Works Inc. lowered its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 51.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,000 shares of the semiconductor company's stock after selling 25,000 shares during the quarter. Rheos Capital Works Inc.'s holdings in Synopsys were worth $10,292,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SNPS. Vanguard Group Inc. raised its stake in shares of Synopsys by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,482,776 shares of the semiconductor company's stock valued at $7,029,360,000 after acquiring an additional 120,575 shares during the period. Capital World Investors boosted its stake in shares of Synopsys by 1.6% during the fourth quarter. Capital World Investors now owns 7,280,182 shares of the semiconductor company's stock valued at $3,533,526,000 after purchasing an additional 114,893 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Synopsys by 21.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company's stock valued at $2,864,933,000 after acquiring an additional 1,045,326 shares during the period. Geode Capital Management LLC raised its holdings in Synopsys by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,357,165 shares of the semiconductor company's stock worth $1,625,230,000 after purchasing an additional 75,298 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Synopsys by 26.2% during the fourth quarter. Ameriprise Financial Inc. now owns 1,888,181 shares of the semiconductor company's stock valued at $916,441,000 after acquiring an additional 391,681 shares during the last quarter. Institutional investors own 85.47% of the company's stock.

Synopsys Stock Performance

NASDAQ SNPS opened at $486.00 on Monday. The business has a fifty day moving average price of $456.95 and a 200 day moving average price of $483.02. The company has a market cap of $75.41 billion, a P/E ratio of 33.47, a P/E/G ratio of 3.23 and a beta of 1.11. Synopsys, Inc. has a one year low of $365.74 and a one year high of $624.80.

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

Insiders Place Their Bets

In other Synopsys news, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 71,589 shares of the company's stock, valued at $32,782,750.77. This trade represents a 13.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.62% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC restated a "buy" rating and set a $650.00 price target on shares of Synopsys in a research note on Thursday, May 29th. Rosenblatt Securities reduced their price target on Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. Morgan Stanley decreased their price objective on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research report on Monday, February 24th. Stifel Nicolaus set a $550.00 price target on Synopsys in a research report on Monday, April 28th. Finally, Bank of America dropped their price objective on Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $607.14.

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.

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