Sycomore Asset Management Trims Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Sycomore Asset Management lowered its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 18.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,340 shares of the semiconductor company's stock after selling 2,542 shares during the quarter. Synopsys accounts for 1.3% of Sycomore Asset Management's investment portfolio, making the stock its 25th largest holding. Sycomore Asset Management's holdings in Synopsys were worth $5,875,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. Fred Alger Management LLC boosted its stake in shares of Synopsys by 1.8% during the 3rd quarter. Fred Alger Management LLC now owns 1,150 shares of the semiconductor company's stock worth $528,000 after purchasing an additional 20 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Synopsys by 1.3% during the 3rd quarter. UMB Bank n.a. now owns 1,719 shares of the semiconductor company's stock worth $789,000 after purchasing an additional 22 shares during the last quarter. Obermeyer Wood Investment Counsel Lllp boosted its stake in shares of Synopsys by 2.6% during the 3rd quarter. Obermeyer Wood Investment Counsel Lllp now owns 859 shares of the semiconductor company's stock worth $394,000 after purchasing an additional 22 shares during the last quarter. Synovus Financial Corp boosted its stake in shares of Synopsys by 0.7% during the 3rd quarter. Synovus Financial Corp now owns 3,370 shares of the semiconductor company's stock worth $1,547,000 after purchasing an additional 23 shares during the last quarter. Finally, CENTRAL TRUST Co boosted its stake in shares of Synopsys by 4.0% during the 3rd quarter. CENTRAL TRUST Co now owns 653 shares of the semiconductor company's stock worth $300,000 after purchasing an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SNPS. Needham & Company LLC reiterated a "buy" rating and set a $660.00 price objective on shares of Synopsys in a report on Friday, March 22nd. Piper Sandler began coverage on shares of Synopsys in a report on Thursday, April 4th. They set an "overweight" rating and a $665.00 price objective on the stock. Robert W. Baird increased their price objective on shares of Synopsys from $624.00 to $640.00 and gave the stock an "outperform" rating in a report on Thursday, February 22nd. StockNews.com upgraded shares of Synopsys from a "hold" rating to a "buy" rating in a report on Monday, March 18th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $615.00 price objective on shares of Synopsys in a report on Thursday, March 21st. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $601.00.

Synopsys Stock Up 0.0 %

Shares of SNPS traded up $0.02 during mid-day trading on Wednesday, reaching $527.52. 1,429,053 shares of the stock traded hands, compared to its average volume of 1,244,363. The firm has a market cap of $80.45 billion, a price-to-earnings ratio of 58.10, a P/E/G ratio of 3.01 and a beta of 1.06. The stock has a fifty day simple moving average of $564.47 and a 200 day simple moving average of $535.56. Synopsys, Inc. has a 12-month low of $360.36 and a 12-month high of $629.38.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.43 by $0.13. The company had revenue of $1.65 billion for 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 quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.75 earnings per share. On average, equities research analysts expect that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Sassine Ghazi sold 10,294 shares of the firm's 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 owns 61,863 shares of the company's stock, valued at $35,726,501.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Roy Vallee sold 10,000 shares of the firm's stock in a transaction that occurred 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 owns 20,000 shares of the company's stock, valued at $11,453,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the completion of the transaction, the chief executive officer now directly owns 61,863 shares of the company's stock, valued at approximately $35,726,501.13. The disclosure for this sale can be found here. Insiders have sold 26,832 shares of company stock worth $15,464,992 over the last 90 days. 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.

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