Mutual of America Capital Management LLC Sells 759 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Mutual of America Capital Management LLC decreased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 3.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,315 shares of the semiconductor company’s stock after selling 759 shares during the period. Mutual of America Capital Management LLC’s holdings in Synopsys were worth $12,089,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Synopsys by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 13,829,357 shares of the semiconductor company’s stock worth $7,903,478,000 after buying an additional 278,265 shares during the last quarter. Capital World Investors boosted its stake in Synopsys by 12.5% during the 1st quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock valued at $4,211,892,000 after purchasing an additional 818,485 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Synopsys by 39.6% during 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 last quarter. GQG Partners LLC boosted its stake in 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 during the last quarter. Finally, Swedbank AB boosted its stake in Synopsys by 1.4% during the 2nd quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock valued at $1,110,461,000 after purchasing an additional 25,999 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Stock Down 1.3 %

Synopsys stock opened at $495.95 on Thursday. The business has a fifty day moving average of $530.00 and a two-hundred day moving average of $557.62. The firm has a market cap of $75.99 billion, a P/E ratio of 53.91, a P/E/G ratio of 3.23 and a beta of 1.08. Synopsys, Inc. has a twelve month low of $440.62 and a twelve month high of $629.38.

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

Analyst Ratings Changes

A number of research firms have recently issued reports on SNPS. KeyCorp raised their price target on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Rosenblatt Securities restated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research note on Friday, August 23rd. JPMorgan Chase & Co. raised their target price on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Robert W. Baird raised their target price on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 target price on shares of Synopsys in a report on Thursday, August 22nd. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Synopsys currently has a consensus rating of “Buy” and a consensus target price of $630.09.

Insider Transactions at Synopsys

In related news, insider Geus Aart De sold 8,158 shares of Synopsys stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $602.59, for a total value of $4,915,929.22. Following the completion of the sale, the insider now owns 106,983 shares in the company, valued at approximately $64,466,885.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 directly owns 62,568 shares in the company, valued at $34,655,789.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Geus Aart De sold 8,158 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $602.59, for a total transaction of $4,915,929.22. Following the transaction, the insider now owns 106,983 shares in the company, valued at $64,466,885.97. The disclosure for this sale can be found here. Insiders sold 73,687 shares of company stock worth $44,616,637 in the last 90 days. Insiders own 0.66% of the company’s stock.

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.