Acadian Asset Management LLC Sells 143,616 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Acadian Asset Management LLC lowered its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 97.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,212 shares of the semiconductor company’s stock after selling 143,616 shares during the period. Acadian Asset Management LLC’s holdings in Synopsys were worth $2,504,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SNPS. ORG Partners LLC raised its position in shares of Synopsys by 600.0% in the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 36 shares in the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of Synopsys in the 4th quarter valued at approximately $28,000. Chris Bulman Inc acquired a new position in shares of Synopsys in the 2nd quarter valued at approximately $30,000. Jones Financial Companies Lllp raised its position in shares of Synopsys by 233.3% in the 4th quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 42 shares in the last quarter. Finally, Activest Wealth Management acquired a new position in shares of Synopsys in the 1st quarter valued at approximately $35,000. Institutional investors own 85.47% of the company’s stock.

Insider Activity

In other Synopsys news, insider Geus Aart De sold 4,212 shares of Synopsys stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $600.05, for a total transaction of $2,527,410.60. Following the completion of the transaction, the insider now owns 106,983 shares in the company, valued at approximately $64,195,149.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Geus Aart De sold 4,212 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $600.05, for a total value of $2,527,410.60. Following the transaction, the insider now owns 106,983 shares in the company, valued at approximately $64,195,149.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value of $5,701,189.77. Following the completion of the transaction, the chief executive officer now owns 62,568 shares in the company, valued at approximately $34,655,789.52. The disclosure for this sale can be found here. Insiders sold a total of 73,687 shares of company stock worth $44,616,637 in the last three months. Company insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SNPS. Rosenblatt Securities restated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research report on Friday, August 23rd. JPMorgan Chase & Co. boosted their target price on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Needham & Company LLC reiterated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research report on Thursday, August 22nd. KeyCorp upped their price objective on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Finally, Piper Sandler reiterated an “overweight” rating and set a $687.00 price objective on shares of Synopsys in a research report on Thursday, August 22nd. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $630.09.

Synopsys Price Performance

SNPS opened at $490.07 on Friday. Synopsys, Inc. has a fifty-two week low of $440.62 and a fifty-two week high of $629.38. The firm has a market capitalization of $75.28 billion, a price-to-earnings ratio of 53.27, a PEG ratio of 3.18 and a beta of 1.08. The company’s 50 day moving average price is $536.92 and its two-hundred day moving average price is $559.39.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, topping analysts’ consensus estimates of $3.28 by $0.15. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.17 EPS. As a group, equities research analysts predict that Synopsys, Inc. will post 9.45 EPS for the current year.

About Synopsys

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.