Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd reduced its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 7.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 42,827 shares of the semiconductor company's stock after selling 3,596 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Synopsys were worth $22,052,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Venturi Wealth Management LLC purchased a new position in shares of Synopsys in the 3rd quarter valued at approximately $27,000. OFI Invest Asset Management purchased a new position in shares of Synopsys in the 3rd quarter valued at approximately $26,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Synopsys in the 3rd quarter valued at approximately $29,000. Freedom Wealth Alliance LLC purchased a new position in shares of Synopsys in the 4th quarter valued at approximately $26,000. Finally, VitalStone Financial LLC purchased a new position in Synopsys during the first quarter valued at $30,000. Hedge funds and other institutional investors own 85.47% of the company's stock.

Insider Buying and Selling

In related news, Director Marc N. Casper purchased 750 shares of the business's stock in a transaction on Monday, March 25th. The stock was acquired at an average price of $585.45 per share, with a total value of $439,087.50. Following the completion of the acquisition, the director now owns 1,736 shares of the company's stock, valued at approximately $1,016,341.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Marc N. Casper acquired 750 shares of the firm's stock in a transaction on Monday, March 25th. The shares were acquired at an average cost of $585.45 per share, for a total transaction of $439,087.50. Following the completion of the transaction, the director now directly owns 1,736 shares in the company, valued at approximately $1,016,341.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the insider now owns 26,780 shares in the company, valued at $15,638,181. The disclosure for this sale can be found here. Insiders sold 26,832 shares of company stock valued at $15,464,992 over the last 90 days. Company insiders own 0.66% of the company's stock.

Synopsys Price Performance

Shares of SNPS traded down $9.00 during trading hours on Friday, hitting $510.71. The stock had a trading volume of 1,192,553 shares, compared to its average volume of 880,871. Synopsys, Inc. has a 12 month low of $360.36 and a 12 month high of $629.38. The firm has a market capitalization of $77.88 billion, a PE ratio of 56.25, a PEG ratio of 3.04 and a beta of 1.06. The stock has a fifty day moving average price of $566.66 and a 200 day moving average price of $534.33.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the company posted $1.75 earnings per share. Synopsys's revenue was up 21.1% compared to the same quarter last year. As a group, analysts anticipate that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SNPS has been the subject of a number of recent research reports. Piper Sandler initiated coverage on Synopsys in a research note on Thursday, April 4th. They set an "overweight" rating and a $665.00 price objective for the company. Rosenblatt Securities reiterated a "buy" rating and set a $615.00 price objective on shares of Synopsys in a research note on Thursday, March 21st. Robert W. Baird lifted their price objective on Synopsys from $624.00 to $640.00 and gave the company an "outperform" rating in a research note on Thursday, February 22nd. Needham & Company LLC reiterated a "buy" rating and set a $660.00 price objective on shares of Synopsys in a research note on Friday, March 22nd. Finally, StockNews.com upgraded Synopsys from a "hold" rating to a "buy" rating in a research note on Monday, March 18th. Eleven investment 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 Company 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.