Synopsys, Inc. (NASDAQ:SNPS) Stock Position Lowered by Cim LLC

Cim LLC trimmed its position in Synopsys, Inc. (NASDAQ:SNPS) by 0.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,646 shares of the semiconductor company’s stock after selling 135 shares during the period. Synopsys makes up approximately 3.6% of Cim LLC’s holdings, making the stock its 7th biggest holding. Cim LLC’s holdings in Synopsys were worth $24,187,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SNPS. Vanguard Group Inc. increased its stake in shares of Synopsys by 2.1% during the first quarter. Vanguard Group Inc. now owns 13,829,357 shares of the semiconductor company’s stock worth $7,903,478,000 after purchasing an additional 278,265 shares in the last quarter. Capital World Investors increased its holdings in shares of Synopsys by 12.5% in 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 acquiring an additional 818,485 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 acquiring an additional 1,514,449 shares during the period. GQG Partners LLC increased its stake in Synopsys by 91.6% in 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 buying an additional 1,001,371 shares during the period. Finally, Swedbank AB boosted its position in shares of Synopsys by 1.4% during the 2nd quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock worth $1,110,461,000 after purchasing an additional 25,999 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Synopsys news, insider Geus Aart De sold 27,753 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $618.58, for a total transaction of $17,167,450.74. Following the transaction, the insider now owns 106,983 shares in the company, valued at $66,177,544.14. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Synopsys news, insider Geus Aart De sold 27,753 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $618.58, for a total value of $17,167,450.74. Following the sale, the insider now directly owns 106,983 shares in the company, valued at $66,177,544.14. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total value of $5,701,189.77. Following the sale, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,635 shares of company stock valued at $31,921,800. 0.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SNPS has been the topic of several recent research reports. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research report on Friday, August 23rd. KeyCorp upped their price target on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Piper Sandler reiterated an “overweight” rating and set a $687.00 target price on shares of Synopsys in a research note on Thursday, August 22nd. JPMorgan Chase & Co. raised their price objective on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note 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 research report on Thursday, August 22nd. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, Synopsys currently has a consensus rating of “Buy” and an average price target of $638.00.

Synopsys Trading Down 2.1 %

NASDAQ SNPS opened at $495.56 on Wednesday. The company has a market cap of $76.12 billion, a PE ratio of 53.87, a PEG ratio of 3.39 and a beta of 1.08. Synopsys, Inc. has a 12 month low of $448.26 and a 12 month high of $629.38. The stock has a 50 day moving average of $515.05 and a 200-day moving average of $553.60.

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. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the firm earned $2.17 earnings per share. The company’s revenue was up 12.7% on a year-over-year basis. As a group, sell-side analysts predict that Synopsys, Inc. will post 9.45 EPS for the current fiscal 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.