NN Investment Partners Holdings N.V. Sells 4,222 Shares of Synopsys, Inc. (NASDAQ:SNPS)

NN Investment Partners Holdings N.V. cut its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 12.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,979 shares of the semiconductor company’s stock after selling 4,222 shares during the period. NN Investment Partners Holdings N.V.’s holdings in Synopsys were worth $8,677,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SNPS. Jupiter Asset Management Ltd. acquired a new position in shares of Synopsys during the third quarter worth $8,451,000. Systematic Alpha Investments LLC bought a new stake in Synopsys during the third quarter valued at $684,000. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Synopsys by 33.2% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 39,409 shares of the semiconductor company’s stock worth $11,799,000 after purchasing an additional 9,830 shares in the last quarter. Sawtooth Solutions LLC boosted its position in shares of Synopsys by 16.0% during the 3rd quarter. Sawtooth Solutions LLC now owns 920 shares of the semiconductor company’s stock worth $275,000 after purchasing an additional 127 shares in the last quarter. Finally, Inspire Investing LLC boosted its position in shares of Synopsys by 48.2% during the 3rd quarter. Inspire Investing LLC now owns 18,160 shares of the semiconductor company’s stock worth $5,437,000 after purchasing an additional 5,906 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

In related news, CEO Geus Aart De sold 96,277 shares of the company’s stock in a transaction on Friday, December 10th. The stock was sold at an average price of $359.55, for a total transaction of $34,616,395.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Chi-Foon Chan sold 12,318 shares of the stock in a transaction dated Friday, December 3rd. The shares were sold at an average price of $343.13, for a total value of $4,226,675.34. The disclosure for this sale can be found here. Insiders have sold a total of 236,722 shares of company stock worth $85,114,661 over the last 90 days. 1.56% of the stock is owned by company insiders.

Several equities analysts recently weighed in on SNPS shares. Robert W. Baird raised their price target on shares of Synopsys from $350.00 to $402.00 and gave the company an “outperform” rating in a research report on Thursday, December 2nd. Needham & Company LLC raised their price target on shares of Synopsys from $360.00 to $370.00 and gave the stock a “buy” rating in a research note on Thursday, December 2nd. Bank of America raised their price target on shares of Synopsys from $330.00 to $355.00 and gave the stock an “underperform” rating in a research note on Monday, January 10th. Rosenblatt Securities raised their price target on shares of Synopsys from $365.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, December 2nd. Finally, Credit Suisse Group lifted their price objective on shares of Synopsys from $300.00 to $360.00 and gave the company an “outperform” rating in a research note on Monday, November 29th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $363.00.

SNPS stock opened at $326.16 on Friday. The company’s 50 day moving average price is $351.21 and its 200 day moving average price is $321.06. Synopsys, Inc. has a fifty-two week low of $217.69 and a fifty-two week high of $377.60. The firm has a market capitalization of $50.05 billion, a price-to-earnings ratio of 67.67, a PEG ratio of 4.20 and a beta of 1.13.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, December 1st. The semiconductor company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.04. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.15 billion. Synopsys had a return on equity of 14.83% and a net margin of 18.02%. Synopsys’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.26 earnings per share. As a group, sell-side analysts forecast that Synopsys, Inc. will post 5.43 earnings per share for the current fiscal year.

Synopsys announced that its board has authorized a share buyback plan on Friday, December 10th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the semiconductor company to repurchase up to 1.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Synopsys Company Profile

Synopsys, Inc engages in the provision of software products and consulting services in the electronic design automation industry. It operates through the following segments: Semiconductor and System Design, and Software Integrity. The Semiconductor and System Design segment includes the EDA, IP and System Integration.

Recommended Story: Why do companies issue convertible shares?

Want to see what other hedge funds are holding SNPS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synopsys, Inc. (NASDAQ:SNPS).

Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

Receive News & Ratings for Synopsys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synopsys and related companies with MarketBeat.com's FREE daily email newsletter.