Fiera Capital Corp Sells 576 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Fiera Capital Corp decreased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 0.4% in the third quarter, HoldingsChannel reports. The fund owned 146,738 shares of the semiconductor company’s stock after selling 576 shares during the quarter. Fiera Capital Corp’s holdings in Synopsys were worth $74,307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of SNPS. Swedbank AB bought a new stake in Synopsys during the 1st quarter worth approximately $1,051,637,000. Price T Rowe Associates Inc. MD increased its stake in shares of Synopsys by 39.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock worth $3,050,441,000 after purchasing an additional 1,514,449 shares in the last quarter. GQG Partners LLC raised its position in shares of Synopsys by 91.6% during the 1st quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock valued at $1,197,350,000 after purchasing an additional 1,001,371 shares during the period. Sustainable Growth Advisers LP purchased a new position in shares of Synopsys during the 2nd quarter valued at $572,050,000. Finally, Capital World Investors lifted its stake in shares of Synopsys by 12.5% during the 1st quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock valued at $4,211,892,000 after buying an additional 818,485 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Trading Down 1.7 %

SNPS traded down $9.84 during trading hours on Friday, hitting $563.75. The company’s stock had a trading volume of 255,830 shares, compared to its average volume of 1,064,358. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The business’s 50-day moving average price is $505.80 and its 200-day moving average price is $544.28. The stock has a market cap of $86.60 billion, a price-to-earnings ratio of 58.64, a P/E/G ratio of 3.37 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, topping analysts’ consensus estimates of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the firm posted $2.17 EPS. The business’s quarterly revenue was up 12.7% on a year-over-year basis. On average, analysts forecast that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SNPS shares. Robert W. Baird raised their price target on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Piper Sandler cut their target price on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price target on shares of Synopsys in a report on Friday, August 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price objective on shares of Synopsys in a report on Tuesday, October 22nd. Finally, Berenberg Bank assumed coverage on shares of Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective on the stock. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $643.00.

Insider Buying and Selling at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value of $5,701,189.77. Following the completion of the sale, the chief executive officer now directly owns 62,568 shares in the company, valued at $34,655,789.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.66% of the company’s stock.

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.