Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Johnson Financial Group Inc.

Johnson Financial Group Inc. cut its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 21.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,427 shares of the semiconductor company’s stock after selling 397 shares during the quarter. Johnson Financial Group Inc.’s holdings in Synopsys were worth $735,000 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 company. Coldstream Capital Management Inc. increased its stake in Synopsys by 0.8% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,195 shares of the semiconductor company’s stock worth $1,130,000 after acquiring an additional 18 shares during the last quarter. Mission Wealth Management LP grew its stake in shares of Synopsys by 2.5% in the fourth quarter. Mission Wealth Management LP now owns 780 shares of the semiconductor company’s stock valued at $401,000 after buying an additional 19 shares in the last quarter. Fred Alger Management LLC grew its stake in shares of Synopsys by 1.8% in the third quarter. Fred Alger Management LLC now owns 1,150 shares of the semiconductor company’s stock valued at $528,000 after buying an additional 20 shares in the last quarter. Allstate Corp grew its stake in shares of Synopsys by 4.7% in the fourth quarter. Allstate Corp now owns 468 shares of the semiconductor company’s stock valued at $241,000 after buying an additional 21 shares in the last quarter. Finally, Obermeyer Wood Investment Counsel Lllp grew its stake in shares of Synopsys by 2.6% in the third quarter. Obermeyer Wood Investment Counsel Lllp now owns 859 shares of the semiconductor company’s stock valued at $394,000 after buying an additional 22 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Synopsys news, Director Marc N. Casper bought 750 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were purchased at an average cost of $585.45 per share, for a total transaction of $439,087.50. Following the transaction, the director now directly owns 1,736 shares in the company, valued at $1,016,341.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Synopsys news, Director Marc N. Casper bought 750 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were purchased at an average cost of $585.45 per share, for a total transaction of $439,087.50. Following the transaction, the director now directly owns 1,736 shares in the company, valued at $1,016,341.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John F. Runkel, Jr. sold 5,319 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total value of $3,081,669.03. Following the completion of the sale, the insider now owns 20,000 shares in the company, valued at $11,587,400. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Synopsys Stock Up 0.2 %

NASDAQ:SNPS traded up $1.10 during trading hours on Friday, reaching $587.40. 725,828 shares of the stock were exchanged, compared to its average volume of 755,899. The firm has a 50 day simple moving average of $558.67 and a 200-day simple moving average of $547.28. Synopsys, Inc. has a 52 week low of $409.83 and a 52 week high of $629.38. The stock has a market capitalization of $89.58 billion, a P/E ratio of 63.85, a P/E/G ratio of 3.42 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 EPS for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the business earned $1.76 EPS. The company’s quarterly revenue was up 15.2% on a year-over-year basis. As a group, analysts expect that Synopsys, Inc. will post 9.78 earnings per share for the current year.

Wall Street Analyst Weigh In

SNPS has been the subject of a number of recent research reports. StockNews.com upgraded Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Rosenblatt Securities reiterated a “buy” rating and issued a $615.00 target price on shares of Synopsys in a research note on Thursday. JPMorgan Chase & Co. increased their target price on Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research note on Thursday. Robert W. Baird raised their price objective on Synopsys from $640.00 to $645.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Piper Sandler restated an “overweight” rating and set a $672.00 price objective (up previously from $665.00) on shares of Synopsys in a research note on Thursday. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $616.18.

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.