NewEdge Advisors LLC Sells 3,120 Shares of Synopsys, Inc. (NASDAQ:SNPS)

NewEdge Advisors LLC decreased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 45.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,771 shares of the semiconductor company’s stock after selling 3,120 shares during the period. NewEdge Advisors LLC’s holdings in Synopsys were worth $2,244,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Swedbank AB purchased a new stake in shares of Synopsys in the first quarter worth about $1,051,637,000. Price T Rowe Associates Inc. MD boosted its holdings in Synopsys by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock valued at $3,050,441,000 after purchasing an additional 1,514,449 shares during the period. GQG Partners LLC grew its position in shares of Synopsys by 91.6% during the 1st quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock valued at $1,197,350,000 after purchasing an additional 1,001,371 shares in the last quarter. Sustainable Growth Advisers LP bought a new position in shares of Synopsys in the second quarter worth $572,050,000. Finally, Capital World Investors raised its position in shares of Synopsys by 12.5% in the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock worth $4,211,892,000 after buying an additional 818,485 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the transaction, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Geus Aart De sold 8,648 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $620.29, for a total value of $5,364,267.92. Following the completion of the transaction, the insider now owns 106,983 shares in the company, valued at $66,360,485.07. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,882 shares of company stock worth $14,754,349. 0.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SNPS has been the subject of several recent analyst reports. Piper Sandler reissued an “overweight” rating and set a $687.00 price objective on shares of Synopsys in a report on Thursday, August 22nd. JPMorgan Chase & Co. boosted their price target on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Robert W. Baird raised their price objective on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. KeyCorp upped their target price 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, Needham & Company LLC reissued a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research note on Thursday, August 22nd. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $638.00.

Synopsys Price Performance

SNPS opened at $499.12 on Friday. Synopsys, Inc. has a 1 year low of $448.91 and a 1 year high of $629.38. The stock’s 50 day simple moving average is $512.11 and its 200 day simple moving average is $552.38. The firm has a market cap of $76.47 billion, a price-to-earnings ratio of 54.25, a PEG ratio of 3.39 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter last year, the business earned $2.17 earnings per share. The business’s revenue was up 12.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current year.

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.