ING Groep NV Sells 2,451 Shares of Synopsys, Inc. (NASDAQ:SNPS)

ING Groep NV lessened its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 5.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 40,191 shares of the semiconductor company's stock after selling 2,451 shares during the quarter. ING Groep NV's holdings in Synopsys were worth $20,695,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC bought a new position in Synopsys during the third quarter worth $27,000. OFI Invest Asset Management acquired a new position in shares of Synopsys in the 3rd quarter valued at about $26,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Synopsys during the 3rd quarter valued at about $29,000. Keener Financial Planning LLC acquired a new stake in Synopsys during the fourth quarter worth approximately $56,000. Finally, Catalyst Capital Advisors LLC increased its holdings in Synopsys by 34.5% in the third quarter. Catalyst Capital Advisors LLC now owns 113 shares of the semiconductor company's stock worth $52,000 after purchasing an additional 29 shares in the last quarter. Institutional investors own 85.47% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $660.00 price objective on shares of Synopsys in a research report on Friday, March 22nd. Piper Sandler assumed 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. StockNews.com raised shares of Synopsys from a "hold" rating to a "buy" rating in a research report on Monday, March 18th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $615.00 target price on shares of Synopsys in a research report on Thursday, March 21st. Finally, Robert W. Baird increased their price target on Synopsys from $624.00 to $640.00 and gave the stock an "outperform" rating in a report on Thursday, February 22nd. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $601.00.

Synopsys Price Performance

Shares of NASDAQ SNPS traded down $2.54 during trading on Friday, hitting $566.73. The stock had a trading volume of 561,003 shares, compared to its average volume of 836,956. The firm has a fifty day moving average of $557.07 and a two-hundred day moving average of $544.05. The company has a market capitalization of $86.43 billion, a PE ratio of 62.42, a PEG ratio of 3.33 and a beta of 1.07. Synopsys, Inc. has a 12 month low of $386.50 and a 12 month high of $629.38.

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 analysts' consensus estimates of $3.43 by $0.13. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the firm posted $1.75 EPS. The firm's quarterly revenue was up 21.1% compared to the same quarter last year. On average, equities analysts expect that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 61,863 shares in the company, valued at $35,726,501.13. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider John F. Runkel, Jr. sold 5,319 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the completion of the transaction, the insider now owns 20,000 shares in the company, 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. Also, CEO Sassine Ghazi sold 10,294 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 61,863 shares in the company, valued at $35,726,501.13. The disclosure for this sale can be found here. Insiders sold 26,832 shares of company stock worth $15,464,992 in the last quarter. 0.66% of the stock is currently owned by company insiders.

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.

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