First Trust Advisors LP Decreases Position in Synopsys, Inc. (NASDAQ:SNPS)

First Trust Advisors LP decreased its position in shares of Synopsys, Inc. (NASDAQ:SNPSFree Report) by 7.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 270,291 shares of the semiconductor company’s stock after selling 20,836 shares during the period. First Trust Advisors LP’s holdings in Synopsys were worth $139,175,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Coldstream Capital Management Inc. raised its position in shares of Synopsys by 0.8% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,195 shares of the semiconductor company’s stock worth $1,130,000 after purchasing an additional 18 shares during the last quarter. Mission Wealth Management LP boosted its position in Synopsys by 2.5% during the fourth quarter. Mission Wealth Management LP now owns 780 shares of the semiconductor company’s stock worth $401,000 after acquiring an additional 19 shares during the last quarter. Fred Alger Management LLC grew its stake in Synopsys by 1.8% during the 3rd quarter. Fred Alger Management LLC now owns 1,150 shares of the semiconductor company’s stock valued at $528,000 after acquiring an additional 20 shares in the last quarter. Allstate Corp boosted its holdings in shares of Synopsys by 4.7% during the 4th quarter. Allstate Corp now owns 468 shares of the semiconductor company’s stock worth $241,000 after purchasing an additional 21 shares during the last quarter. Finally, Obermeyer Wood Investment Counsel Lllp increased its holdings 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 purchasing an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on SNPS. Robert W. Baird boosted their target price on shares of Synopsys from $640.00 to $645.00 and gave the company an “outperform” rating in a report on Thursday, May 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research report on Thursday, May 23rd. Piper Sandler restated an “overweight” rating and set a $672.00 price target (up from $665.00) on shares of Synopsys in a research report on Thursday, May 23rd. StockNews.com upgraded Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Synopsys has an average rating of “Buy” and a consensus target price of $616.18.

View Our Latest Analysis on SNPS

Synopsys Trading Up 1.2 %

Shares of Synopsys stock traded up $6.62 during trading hours on Wednesday, hitting $568.35. 56,131 shares of the company were exchanged, compared to its average volume of 1,128,427. The business has a 50-day moving average of $556.75 and a 200-day moving average of $549.84. Synopsys, Inc. has a 1 year low of $416.87 and a 1 year high of $629.38. The stock has a market capitalization of $87.08 billion, a price-to-earnings ratio of 61.06, a P/E/G ratio of 3.62 and a beta of 1.08.

Synopsys (NASDAQ:SNPSGet Free Report) last issued its earnings results 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 company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The company’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period last year, the business posted $1.76 earnings per share. As a group, research analysts anticipate that Synopsys, Inc. will post 9.66 earnings per share for the current fiscal year.

Insider Transactions at Synopsys

In other Synopsys news, Director Mercedes Johnson sold 5,500 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $581.38, for a total transaction of $3,197,590.00. Following the completion of the transaction, the director now directly owns 1,543 shares in the company, valued at approximately $897,069.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Synopsys news, insider John F. Runkel, Jr. sold 5,319 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the transaction, the insider now owns 20,000 shares of the company’s stock, valued at $11,587,400. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mercedes Johnson sold 5,500 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $581.38, for a total transaction of $3,197,590.00. Following the sale, the director now directly owns 1,543 shares of the company’s stock, valued at $897,069.34. The disclosure for this sale can be found here. Insiders sold 22,352 shares of company stock valued at $12,996,801 in the last 90 days. 0.66% of the stock is currently owned by insiders.

Synopsys Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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