Two Sigma Investments LP Trims Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Two Sigma Investments LP lessened its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 85.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 6,000 shares of the semiconductor company's stock after selling 34,213 shares during the period. Two Sigma Investments LP's holdings in Synopsys were worth $2,912,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Whipplewood Advisors LLC purchased a new position in shares of Synopsys during the fourth quarter valued at approximately $33,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Synopsys in the fourth quarter worth about $34,000. Sierra Ocean LLC purchased a new position in Synopsys in the fourth quarter valued at about $39,000. Hazlett Burt & Watson Inc. grew its position in shares of Synopsys by 28.6% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock valued at $44,000 after acquiring an additional 20 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of Synopsys by 50.8% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 98 shares of the semiconductor company's stock worth $48,000 after purchasing an additional 33 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SNPS has been the subject of a number of recent research reports. Morgan Stanley decreased their target price on Synopsys from $625.00 to $590.00 and set an "overweight" rating for the company in a research report on Monday, February 24th. Piper Sandler restated an "overweight" rating and issued a $615.00 price objective (down from $653.00) on shares of Synopsys in a research note on Thursday, May 29th. Rosenblatt Securities reduced their target price on shares of Synopsys from $660.00 to $625.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Bank of America lowered their price target on shares of Synopsys from $630.00 to $560.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Finally, Wells Fargo & Company cut their price target on Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $609.64.

Insider Activity

In other news, insider Geus Aart De sold 15,705 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the transaction, the insider now directly owns 116,671 shares of the company's stock, valued at $51,850,925.82. This represents a 11.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the business's 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 completion of the transaction, the chief executive officer now directly owns 71,589 shares of the company's stock, valued at approximately $32,782,750.77. This trade represents a 13.70% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company's stock.

Synopsys Price Performance

Synopsys stock traded up $3.19 during mid-day trading on Wednesday, hitting $469.45. The company's stock had a trading volume of 174,786 shares, compared to its average volume of 1,138,936. The business has a 50 day moving average price of $454.18 and a 200-day moving average price of $484.63. Synopsys, Inc. has a 12 month low of $365.74 and a 12 month high of $624.80. The stock has a market cap of $72.84 billion, a price-to-earnings ratio of 32.32, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced 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. Synopsys had a return on equity of 20.48% and a net margin of 36.12%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the company earned $3.00 earnings per share. The firm's revenue for the quarter was up 10.3% on a year-over-year basis. On average, equities research analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current fiscal year.

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.