Mackenzie Financial Corp Sells 174,169 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Mackenzie Financial Corp trimmed its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 17.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 816,629 shares of the semiconductor company's stock after selling 174,169 shares during the period. Mackenzie Financial Corp owned about 0.54% of Synopsys worth $420,490,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Gotham Asset Management LLC lifted its position in shares of Synopsys by 35.9% during the third quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company's stock valued at $3,868,000 after purchasing an additional 2,227 shares in the last quarter. Comerica Bank bought a new position in shares of Synopsys during the 3rd quarter worth approximately $14,203,000. Moody Lynn & Lieberson LLC purchased a new position in shares of Synopsys in the 3rd quarter worth approximately $1,606,000. DNB Asset Management AS grew its holdings in shares of Synopsys by 18.6% in the fourth quarter. DNB Asset Management AS now owns 52,711 shares of the semiconductor company's stock valued at $27,141,000 after acquiring an additional 8,259 shares in the last quarter. Finally, Advisor Resource Council increased its position in shares of Synopsys by 525.4% during the fourth quarter. Advisor Resource Council now owns 3,402 shares of the semiconductor company's stock valued at $1,752,000 after acquiring an additional 2,858 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Trading Down 2.4 %

Shares of NASDAQ SNPS traded down $13.25 during mid-day trading on Monday, hitting $543.91. The company had a trading volume of 940,035 shares, compared to its average volume of 1,250,339. Synopsys, Inc. has a 1 year low of $360.36 and a 1 year high of $629.38. The company has a market capitalization of $82.95 billion, a price-to-earnings ratio of 59.90, a P/E/G ratio of 3.25 and a beta of 1.06. The stock's 50-day moving average price is $569.53 and its 200-day moving average price is $532.98.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 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 business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the company earned $1.75 EPS. The firm's revenue was up 21.1% compared to the same quarter last year. As a group, equities research analysts forecast that Synopsys, Inc. will post 9.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SNPS has been the topic of a number of recent analyst reports. StockNews.com upgraded Synopsys from a "hold" rating to a "buy" rating in a research note on Monday, March 18th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $615.00 price objective on shares of Synopsys in a research report on Thursday, March 21st. 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 target price for the company. Robert W. Baird lifted their price target on shares of Synopsys from $624.00 to $640.00 and gave the stock an "outperform" rating in a report on Thursday, February 22nd. Finally, Needham & Company LLC reissued a "buy" rating and set a $660.00 price objective on shares of Synopsys in a report on Friday, March 22nd. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $601.00.

Insider Buying and Selling

In other Synopsys news, insider John F. Runkel, Jr. sold 5,319 shares of the firm's stock in a transaction 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 transaction, the insider now directly owns 20,000 shares of the company's stock, valued at approximately $11,587,400. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Synopsys news, insider John F. Runkel, Jr. sold 5,319 shares of the firm's stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total value of $3,081,669.03. Following the sale, the insider now owns 20,000 shares of the company's stock, valued at approximately $11,587,400. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John F. Runkel, Jr. sold 1,219 shares of Synopsys stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $583.95, for a total value of $711,835.05. Following the sale, the insider now owns 26,780 shares of the company's stock, valued at approximately $15,638,181. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,832 shares of company stock valued at $15,464,992. Company insiders own 0.66% of the company's stock.

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.