Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by GHP Investment Advisors Inc.

GHP Investment Advisors Inc. lowered its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 12.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,949 shares of the semiconductor company's stock after selling 3,664 shares during the quarter. GHP Investment Advisors Inc.'s holdings in Synopsys were worth $13,362,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp increased its position in shares of Synopsys by 2.6% in the 1st quarter. State Street Corp now owns 6,498,958 shares of the semiconductor company's stock worth $2,510,213,000 after purchasing an additional 166,992 shares during the last quarter. FMR LLC increased its position in shares of Synopsys by 8.9% in the 3rd quarter. FMR LLC now owns 4,032,059 shares of the semiconductor company's stock worth $1,850,594,000 after purchasing an additional 330,206 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Synopsys by 1.6% in the 1st quarter. Geode Capital Management LLC now owns 3,245,659 shares of the semiconductor company's stock worth $1,250,869,000 after purchasing an additional 52,624 shares during the last quarter. Norges Bank bought a new stake in shares of Synopsys in the 4th quarter worth about $891,507,000. Finally, T. Rowe Price Investment Management Inc. increased its position in shares of Synopsys by 6.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,150,257 shares of the semiconductor company's stock worth $686,556,000 after purchasing an additional 133,703 shares during the last quarter. Institutional investors own 85.47% of the company's stock.

Insider Transactions at Synopsys

In other news, insider John F. Runkel, Jr. sold 1,219 shares of the company's stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total value of $711,835.05. Following the completion of the sale, the insider now directly owns 26,780 shares of the company's stock, valued at approximately $15,638,181. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the completion of the sale, the chief executive officer now directly owns 61,863 shares of the company's stock, valued at $35,726,501.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John F. Runkel, Jr. sold 1,219 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total transaction of $711,835.05. Following the sale, the insider now directly owns 26,780 shares of the company's stock, valued at $15,638,181. The disclosure for this sale can be found here. In the last three months, insiders sold 26,832 shares of company stock valued at $15,464,992. Company insiders own 0.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SNPS shares. Wells Fargo & Company boosted their target price on shares of Synopsys from $620.00 to $630.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 13th. Piper Sandler assumed coverage on shares of Synopsys in a research report on Thursday, April 4th. They set an "overweight" rating and a $665.00 price objective for the company. Rosenblatt Securities reaffirmed a "buy" rating and set a $615.00 price objective on shares of Synopsys in a research report on Thursday, March 21st. Robert W. Baird boosted their price objective on shares of Synopsys from $624.00 to $640.00 and gave the company an "outperform" rating in a research report on Thursday, February 22nd. Finally, StockNews.com raised shares of Synopsys from a "hold" rating to a "buy" rating in a research report on Monday, March 18th. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $601.00.

Synopsys Stock Down 1.4 %

NASDAQ SNPS traded down $7.76 on Wednesday, hitting $561.23. The stock had a trading volume of 726,896 shares, compared to its average volume of 1,266,069. The company's 50-day moving average is $568.74 and its two-hundred day moving average is $529.99. The stock has a market cap of $85.59 billion, a price-to-earnings ratio of 61.81, a P/E/G ratio of 3.37 and a beta of 1.06. Synopsys, Inc. has a one year low of $360.36 and a one year high of $629.38.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, topping analysts' consensus estimates of $3.43 by $0.13. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The business's revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.75 EPS. On average, sell-side analysts anticipate that Synopsys, Inc. will post 9.78 earnings per share for the current year.

About Synopsys

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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