Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 7.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 212,205 shares of the semiconductor company's stock after selling 15,977 shares during the period. Russell Investments Group Ltd. owned about 0.14% of Synopsys worth $109,378,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Gotham Asset Management LLC raised its stake 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 acquiring an additional 2,227 shares in the last quarter. abrdn plc raised its stake in shares of Synopsys by 56.9% during the fourth quarter. abrdn plc now owns 84,369 shares of the semiconductor company's stock valued at $43,442,000 after acquiring an additional 30,581 shares in the last quarter. Comerica Bank bought a new position in Synopsys in the third quarter worth approximately $14,203,000. Simplicity Solutions LLC raised its stake in Synopsys by 55.5% in the fourth quarter. Simplicity Solutions LLC now owns 4,310 shares of the semiconductor company's stock worth $2,219,000 after buying an additional 1,539 shares in the last quarter. Finally, Moody Lynn & Lieberson LLC bought a new position in Synopsys in the third quarter worth approximately $1,606,000. Institutional investors own 85.47% of the company's stock.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the company's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $577.51, for a total value of $5,944,887.94. Following 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 filing with the SEC, which is available through the SEC website. In related news, Director Roy Vallee sold 10,000 shares of the company's stock in a transaction dated 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 transaction, the director now owns 20,000 shares in the company, valued at approximately $11,453,200. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 10,294 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer now 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. Over the last three months, insiders have sold 26,832 shares of company stock valued at $15,464,992. 0.66% of the stock is owned by insiders.

Synopsys Stock Up 2.6 %

Shares of SNPS traded up $13.55 during trading hours on Friday, reaching $543.66. 997,562 shares of the company traded hands, compared to its average volume of 908,153. The stock has a market capitalization of $82.91 billion, a P/E ratio of 59.87, a P/E/G ratio of 3.18 and a beta of 1.06. Synopsys, Inc. has a 12-month low of $362.06 and a 12-month high of $629.38. The business has a fifty day moving average price of $563.73 and a 200-day moving average price of $536.58.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, beating analysts' consensus estimates of $3.43 by $0.13. The firm 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% compared to the same quarter last year. During the same period in the previous year, the company earned $1.75 earnings per share. As a group, research analysts predict that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Needham & Company LLC reissued a "buy" rating and issued a $660.00 price objective on shares of Synopsys in a research note on Friday, March 22nd. Piper Sandler assumed coverage on shares of Synopsys in a research note on Thursday, April 4th. They issued an "overweight" rating and a $665.00 price objective 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. StockNews.com raised shares of Synopsys from a "hold" rating to a "buy" rating in a report on Monday, March 18th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $615.00 price target on shares of Synopsys in a report on Thursday, March 21st. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $601.00.

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.