AMF Tjanstepension AB Has $11.58 Million Stake in Synopsys, Inc. (NASDAQ:SNPS)

AMF Tjanstepension AB trimmed its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 34.5% in the first quarter, Holdings Channel reports. The institutional investor owned 20,255 shares of the semiconductor company’s stock after selling 10,670 shares during the period. AMF Tjanstepension AB’s holdings in Synopsys were worth $11,576,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNPS. O Shaughnessy Asset Management LLC increased its stake in Synopsys by 19.3% in the third quarter. O Shaughnessy Asset Management LLC now owns 11,719 shares of the semiconductor company’s stock valued at $5,379,000 after acquiring an additional 1,895 shares during the last quarter. Mutual Advisors LLC increased its stake in Synopsys by 3.1% in the third quarter. Mutual Advisors LLC now owns 855 shares of the semiconductor company’s stock valued at $392,000 after acquiring an additional 26 shares during the last quarter. Valley National Advisers Inc. grew its stake in shares of Synopsys by 38.1% during the third quarter. Valley National Advisers Inc. now owns 174 shares of the semiconductor company’s stock worth $80,000 after buying an additional 48 shares during the last quarter. Synovus Financial Corp grew its stake in shares of Synopsys by 0.7% during the third quarter. Synovus Financial Corp now owns 3,370 shares of the semiconductor company’s stock worth $1,547,000 after buying an additional 23 shares during the last quarter. Finally, CWA Asset Management Group LLC grew its stake in shares of Synopsys by 32.4% during the third quarter. CWA Asset Management Group LLC now owns 976 shares of the semiconductor company’s stock worth $448,000 after buying an additional 239 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Up 0.0 %

Synopsys stock opened at $595.06 on Friday. Synopsys, Inc. has a twelve month low of $418.51 and a twelve month high of $629.38. The firm has a 50 day moving average price of $569.90 and a 200-day moving average price of $556.47. The company has a market capitalization of $91.18 billion, a P/E ratio of 64.68, a P/E/G ratio of 3.84 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the company earned $1.76 earnings per share. The firm’s revenue was up 15.2% on a year-over-year basis. Equities analysts expect that Synopsys, Inc. will post 9.66 EPS for the current fiscal year.

Insider Activity at Synopsys

In related news, insider Geus Aart De sold 4,212 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $600.05, for a total transaction of $2,527,410.60. Following the sale, the insider now directly owns 106,983 shares in the company, valued at approximately $64,195,149.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider John F. Runkel, Jr. sold 936 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $566.97, for a total value of $530,683.92. Following the transaction, the insider now owns 20,000 shares of the company’s stock, valued at approximately $11,339,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Geus Aart De sold 4,212 shares of the stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $600.05, for a total transaction of $2,527,410.60. Following the completion of the transaction, the insider now directly owns 106,983 shares in the company, valued at approximately $64,195,149.15. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,658 shares of company stock worth $20,970,824. 0.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Robert W. Baird boosted their target price on shares of Synopsys from $640.00 to $645.00 and gave the stock an “outperform” rating in a research note on Thursday, May 23rd. KeyCorp lifted their price target on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday. Needham & Company LLC reiterated a “buy” rating and set a $660.00 price target on shares of Synopsys in a report on Thursday, May 23rd. Rosenblatt Securities reiterated a “buy” rating and set a $615.00 price objective on shares of Synopsys in a report on Thursday, May 23rd. Finally, Piper Sandler reiterated an “overweight” rating and set a $672.00 price objective (up previously from $665.00) on shares of Synopsys in a report on Thursday, May 23rd. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $624.36.

About Synopsys

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.