Hartford Investment Management Co. Sells 133 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Hartford Investment Management Co. lowered its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,643 shares of the semiconductor company’s stock after selling 133 shares during the period. Hartford Investment Management Co.’s holdings in Synopsys were worth $4,883,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Kingsview Wealth Management LLC purchased a new position in Synopsys during the first quarter valued at approximately $239,000. Concurrent Investment Advisors LLC purchased a new position in Synopsys during the first quarter valued at approximately $218,000. Jacobs & Co. CA purchased a new position in Synopsys during the third quarter valued at approximately $10,554,000. Vontobel Holding Ltd. grew its stake in Synopsys by 4.7% during the third quarter. Vontobel Holding Ltd. now owns 965,256 shares of the semiconductor company’s stock valued at $488,796,000 after acquiring an additional 43,228 shares in the last quarter. Finally, Axxcess Wealth Management LLC grew its stake in Synopsys by 44.9% in the 1st quarter. Axxcess Wealth Management LLC now owns 4,030 shares of the semiconductor company’s stock worth $2,303,000 after buying an additional 1,249 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 62,568 shares in the company, valued at $34,655,789.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.66% of the stock is currently owned by company insiders.

Synopsys Stock Performance

Shares of SNPS opened at $493.41 on Thursday. 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, Inc. has a fifty-two week low of $448.91 and a fifty-two week high of $629.38. The firm has a 50 day moving average price of $510.44 and a 200-day moving average price of $546.23.

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. 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. Needham & Company LLC reissued a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Tuesday. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research note on Friday, August 23rd. Piper Sandler reissued an “overweight” rating and issued a $687.00 price target on shares of Synopsys in a research note on Thursday, August 22nd. Finally, Robert W. Baird boosted their price target on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently 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.