Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by ING Groep NV

ING Groep NV lessened its stake in Synopsys, Inc. (NASDAQ:SNPS) by 54.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,215 shares of the semiconductor company’s stock after selling 10,806 shares during the quarter. ING Groep NV’s holdings in Synopsys were worth $4,666,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in SNPS. ORG Partners LLC raised its holdings in Synopsys by 600.0% in the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 36 shares during the period. Chris Bulman Inc purchased a new position in shares of Synopsys in the 2nd quarter valued at $30,000. Pacifica Partners Inc. purchased a new stake in Synopsys during the 3rd quarter worth $25,000. Tsfg LLC increased its holdings in Synopsys by 75.0% in the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 24 shares in the last quarter. Finally, Fortitude Family Office LLC raised its position in Synopsys by 66.7% in the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 24 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SNPS. Piper Sandler decreased 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. Berenberg Bank began coverage on Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target for the company. Mizuho initiated coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective on the stock. Robert W. Baird boosted their target price on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, Synopsys has an average rating of “Buy” and a consensus target price of $649.82.

Synopsys Price Performance

Shares of SNPS stock opened at $520.75 on Friday. The firm has a fifty day moving average of $513.01 and a two-hundred day moving average of $545.41. The firm has a market cap of $79.99 billion, a P/E ratio of 54.02, a P/E/G ratio of 3.40 and a beta of 1.08. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38.

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

Insider Buying and Selling

In other news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the completion of the transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. This represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.