Synopsys, Inc. (NASDAQ:SNPS) Stock Holdings Lowered by Strs Ohio

Strs Ohio cut its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 29.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,528 shares of the semiconductor company's stock after selling 87,331 shares during the period. Strs Ohio owned about 0.14% of Synopsys worth $107,373,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. OFI Invest Asset Management purchased a new position in shares of Synopsys during the third quarter worth about $26,000. Freedom Wealth Alliance LLC acquired a new stake in Synopsys in the fourth quarter valued at about $26,000. Venturi Wealth Management LLC acquired a new stake in Synopsys in the third quarter valued at about $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Synopsys in the third quarter valued at about $29,000. Finally, VitalStone Financial LLC acquired a new stake in Synopsys in the first quarter valued at about $30,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Synopsys news, insider John F. Runkel, Jr. sold 5,319 shares of Synopsys stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total value of $3,081,669.03. Following the completion of the sale, the insider now directly owns 20,000 shares of the company's stock, valued at approximately $11,587,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Roy Vallee sold 10,000 shares of the business's stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the completion of the sale, the director now directly owns 20,000 shares of the company's stock, valued at approximately $11,453,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John F. Runkel, Jr. sold 5,319 shares of the business's stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the sale, the insider now directly owns 20,000 shares of the company's stock, valued at $11,587,400. 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.

Analyst Ratings Changes

A number of brokerages recently commented on SNPS. Piper Sandler began coverage on shares of Synopsys in a research report on Thursday, April 4th. They issued an "overweight" rating and a $665.00 price objective for the company. Rosenblatt Securities reiterated a "buy" rating and set a $615.00 price target on shares of Synopsys in a research report on Thursday, March 21st. StockNews.com upgraded shares of Synopsys from a "hold" rating to a "buy" rating in a research report on Monday, March 18th. Robert W. Baird lifted their price target 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, Needham & Company LLC reiterated a "buy" rating and set a $660.00 price target on shares of Synopsys in a research report on Friday, March 22nd. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $601.00.

Synopsys Stock Down 0.9 %

Shares of Synopsys stock traded down $4.81 during trading on Friday, hitting $557.16. 810,870 shares of the company were exchanged, compared to its average volume of 980,433. Synopsys, Inc. has a fifty-two week low of $360.36 and a fifty-two week high of $629.38. The stock has a market capitalization of $84.97 billion, a price-to-earnings ratio of 61.36, a P/E/G ratio of 3.25 and a beta of 1.06. The firm has a 50 day moving average price of $569.84 and a 200 day moving average price of $532.40.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.13. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the firm posted $1.75 EPS. The company's quarterly revenue was up 21.1% compared to the same quarter last year. Analysts predict 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.