Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Intrust Bank NA

Intrust Bank NA lessened its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,013 shares of the semiconductor company’s stock after selling 89 shares during the quarter. Intrust Bank NA’s holdings in Synopsys were worth $3,611,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. FMR LLC boosted 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 worth $1,850,594,000 after purchasing an additional 330,206 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Synopsys by 20.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company’s stock valued at $925,744,000 after acquiring an additional 344,430 shares during the last quarter. Northern Trust Corp boosted its position in shares of Synopsys by 4.9% during the 3rd quarter. Northern Trust Corp now owns 1,687,602 shares of the semiconductor company’s stock valued at $774,559,000 after acquiring an additional 78,848 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Synopsys by 4.3% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 885,083 shares of the semiconductor company’s stock valued at $406,227,000 after acquiring an additional 36,470 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Synopsys by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 826,010 shares of the semiconductor company’s stock valued at $379,114,000 after acquiring an additional 7,294 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analysts Set New Price Targets

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

Synopsys Price Performance

Shares of Synopsys stock traded up $1.10 on Monday, reaching $544.76. 647,060 shares of the company were exchanged, compared to its average volume of 1,227,784. Synopsys, Inc. has a 1-year low of $365.46 and a 1-year high of $629.38. The company has a market cap of $83.08 billion, a P/E ratio of 59.84, a price-to-earnings-growth ratio of 3.18 and a beta of 1.06. The stock’s 50 day moving average price is $563.73 and its 200-day moving average price is $536.58.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.13. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.65 billion. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The firm’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.75 earnings per share. On average, research analysts predict that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $577.51, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Marc N. Casper acquired 750 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were acquired at an average price of $585.45 per share, with a total value of $439,087.50. Following the completion of the purchase, the director now directly owns 1,736 shares in the company, valued at $1,016,341.20. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was 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 directly owns 61,863 shares in the company, 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.

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.