Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC trimmed its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 6.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 702 shares of the semiconductor company’s stock after selling 47 shares during the quarter. Summit Trail Advisors LLC’s holdings in Synopsys were worth $361,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Gotham Asset Management LLC lifted its position in shares of Synopsys by 35.9% in the 3rd quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock worth $3,868,000 after buying an additional 2,227 shares during the last quarter. abrdn plc raised its stake in Synopsys by 56.9% during the fourth quarter. abrdn plc now owns 84,369 shares of the semiconductor company’s stock worth $43,442,000 after acquiring an additional 30,581 shares during the period. Simplicity Solutions LLC lifted its holdings in Synopsys by 55.5% in the fourth quarter. Simplicity Solutions LLC now owns 4,310 shares of the semiconductor company’s stock worth $2,219,000 after acquiring an additional 1,539 shares during the last quarter. Comerica Bank acquired a new position in Synopsys in the third quarter valued at approximately $14,203,000. Finally, DNB Asset Management AS grew its holdings in shares of Synopsys by 18.6% during the fourth quarter. DNB Asset Management AS now owns 52,711 shares of the semiconductor company’s stock valued at $27,141,000 after purchasing an additional 8,259 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on SNPS. Robert W. Baird boosted their price objective on 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 issued a $615.00 price objective on shares of Synopsys in a research report on Thursday, March 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $660.00 target price on shares of Synopsys in a research note on Friday, March 22nd. Piper Sandler initiated coverage on shares of Synopsys in a report on Thursday, April 4th. They issued an “overweight” rating and a $665.00 price target for the company. Finally, StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, Synopsys currently has a consensus rating of “Buy” and a consensus target price of $601.00.

Synopsys Price Performance

Shares of NASDAQ SNPS opened at $546.00 on Wednesday. Synopsys, Inc. has a one year low of $365.46 and a one year high of $629.38. The business’s 50-day moving average price is $559.77 and its two-hundred day moving average price is $539.03. The company has a market capitalization of $83.27 billion, a P/E ratio of 60.53, a price-to-earnings-growth ratio of 3.14 and a beta of 1.07.

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

Insider Buying and Selling at Synopsys

In related news, Director Marc N. Casper acquired 750 shares of the stock in a transaction dated 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 acquisition, the director now owns 1,736 shares in the company, valued at approximately $1,016,341.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Marc N. Casper bought 750 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were purchased at an average price of $585.45 per share, for a total transaction of $439,087.50. Following the acquisition, the director now directly owns 1,736 shares of the company’s stock, valued at approximately $1,016,341.20. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were 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. Insiders have sold a total of 26,832 shares of company stock worth $15,464,992 over the last three months. Corporate insiders own 0.66% of the company’s stock.

Synopsys Company 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.