Synopsys, Inc. (NASDAQ:SNPS) Holdings Cut by AXS Investments LLC

AXS Investments LLC trimmed its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 10.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,640 shares of the semiconductor company’s stock after selling 667 shares during the quarter. Synopsys comprises 0.7% of AXS Investments LLC’s portfolio, making the stock its 22nd largest position. AXS Investments LLC’s holdings in Synopsys were worth $2,904,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in SNPS. FMR LLC grew its position 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 in the last quarter. Massachusetts Financial Services Co. MA raised its position in Synopsys by 6.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,565,534 shares of the semiconductor company’s stock valued at $1,321,019,000 after acquiring an additional 153,053 shares in the last quarter. Norges Bank acquired a new stake in Synopsys in the fourth quarter valued at approximately $1,272,143,000. Ameriprise Financial Inc. grew its position in Synopsys by 20.3% in the third quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company’s stock worth $925,744,000 after acquiring an additional 344,430 shares in the last quarter. Finally, Northern Trust Corp increased its stake 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 worth $774,559,000 after purchasing an additional 78,848 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Stock Up 2.3 %

Shares of Synopsys stock traded up $13.17 during trading on Thursday, reaching $586.30. The company’s stock had a trading volume of 1,726,008 shares, compared to its average volume of 1,140,066. The firm’s 50-day moving average is $557.38 and its two-hundred day moving average is $545.99. Synopsys, Inc. has a 52-week low of $390.20 and a 52-week high of $629.38. The company has a market cap of $89.41 billion, a price-to-earnings ratio of 65.69, a PEG ratio of 3.34 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.50 billion. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. Synopsys’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.76 EPS. On average, equities research analysts anticipate that Synopsys, Inc. will post 9.78 EPS for the current year.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the business’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 of the company’s stock, valued at approximately $35,726,501.13. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Roy Vallee sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $11,453,200. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 61,863 shares of the company’s stock, valued at approximately $35,726,501.13. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,832 shares of company stock worth $15,464,992. Company insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Rosenblatt Securities reiterated a “buy” rating and set a $615.00 price target on shares of Synopsys in a research note on Thursday. JPMorgan Chase & Co. raised their target price on shares of Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research note on Thursday. 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 increased their target price on Synopsys from $640.00 to $645.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $672.00 price target (up previously from $665.00) on shares of Synopsys in a research note on Thursday. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $616.18.

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.