Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 24.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,825 shares of the semiconductor company’s stock after selling 16,968 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Synopsys were worth $27,257,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. ORG Partners LLC boosted its holdings in shares of Synopsys by 600.0% during the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 36 shares during the last quarter. Chris Bulman Inc purchased a new position in Synopsys during the second quarter worth approximately $30,000. Pacifica Partners Inc. acquired a new position in Synopsys during the third quarter worth $25,000. Tsfg LLC grew its holdings in Synopsys by 75.0% in the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 24 shares in the last quarter. Finally, Fortitude Family Office LLC increased its stake in shares of Synopsys by 66.7% in the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Trading Down 1.8 %

SNPS opened at $493.41 on Thursday. The stock’s 50-day moving average price is $510.44 and its 200 day moving average price is $546.23. Synopsys, Inc. has a 12-month low of $448.91 and a 12-month high of $629.38. The firm has a market cap of $75.60 billion, a price-to-earnings ratio of 53.63, a PEG ratio of 3.47 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last issued its quarterly 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. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.17 earnings per share. On average, research analysts forecast that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Insider Buying and Selling at Synopsys

In other news, 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 transaction of $5,701,189.77. Following the sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SNPS. Robert W. Baird boosted their price target 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. Mizuho assumed coverage on shares of Synopsys in a research note on Tuesday. They issued an “outperform” rating and a $650.00 price target for the company. KeyCorp lifted their price target on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Berenberg Bank assumed coverage on Synopsys in a research report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their target price on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $644.55.

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.