Ninety One UK Ltd Sells 43,622 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Ninety One UK Ltd reduced its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 9.0% in the fourth quarter, Holdings Channel reports. The firm owned 439,281 shares of the semiconductor company’s stock after selling 43,622 shares during the quarter. Ninety One UK Ltd’s holdings in Synopsys were worth $226,190,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp increased its stake in Synopsys by 2.6% during the 1st quarter. State Street Corp now owns 6,498,958 shares of the semiconductor company’s stock valued at $2,510,213,000 after purchasing an additional 166,992 shares in the last quarter. FMR LLC increased its stake in Synopsys by 8.9% during the 3rd quarter. FMR LLC now owns 4,032,059 shares of the semiconductor company’s stock valued at $1,850,594,000 after purchasing an additional 330,206 shares in the last quarter. Geode Capital Management LLC increased its stake in Synopsys by 1.6% during the 1st quarter. Geode Capital Management LLC now owns 3,245,659 shares of the semiconductor company’s stock valued at $1,250,869,000 after purchasing an additional 52,624 shares in the last quarter. Norges Bank purchased a new stake in shares of Synopsys during the 4th quarter valued at about $891,507,000. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in shares of Synopsys by 6.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,150,257 shares of the semiconductor company’s stock valued at $686,556,000 after acquiring an additional 133,703 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider John F. Runkel, Jr. sold 1,219 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total transaction of $711,835.05. Following the completion of the sale, the insider now directly owns 26,780 shares of the company’s stock, valued at $15,638,181. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider John F. Runkel, Jr. sold 1,219 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total transaction of $711,835.05. Following the completion of the sale, the insider now directly owns 26,780 shares of the company’s stock, valued at $15,638,181. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $577.51, for a total transaction 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,832 shares of company stock valued at $15,464,992. 0.66% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a report on Friday, March 22nd. Robert W. Baird lifted their price objective on shares of Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Rosenblatt Securities reiterated a “buy” rating and set a $615.00 price objective on shares of Synopsys in a research report on Thursday, March 21st. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Finally, Piper Sandler began coverage on shares of Synopsys in a research report on Thursday, April 4th. They set an “overweight” rating and a $665.00 price objective on the stock. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $601.00.

Synopsys Stock Performance

NASDAQ SNPS traded down $6.61 on Thursday, hitting $520.97. 636,938 shares of the stock were exchanged, compared to its average volume of 1,235,373. The stock has a fifty day moving average price of $568.97 and a two-hundred day moving average price of $533.52. The firm has a market capitalization of $79.45 billion, a P/E ratio of 58.10, a P/E/G ratio of 3.16 and a beta of 1.06. Synopsys, Inc. has a 52-week low of $360.36 and a 52-week high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 EPS for the quarter, topping the consensus estimate of $3.43 by $0.13. The company had revenue of $1.65 billion during 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%. Synopsys’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.75 earnings per share. Sell-side analysts expect that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal year.

Synopsys Profile

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.