Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 9.3% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,409,940 shares of the semiconductor company’s stock after selling 143,818 shares during the period. Ameriprise Financial Inc. owned 0.92% of Synopsys worth $838,930,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. APG Asset Management N.V. grew its stake in shares of Synopsys by 32.3% in the 2nd quarter. APG Asset Management N.V. now owns 159,541 shares of the semiconductor company’s stock valued at $88,581,000 after purchasing an additional 38,972 shares during the last quarter. APG Asset Management US Inc. raised its position in Synopsys by 2.2% during the 2nd quarter. APG Asset Management US Inc. now owns 47,487 shares of the semiconductor company’s stock worth $28,575,000 after buying an additional 1,012 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Synopsys by 61.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 29,221 shares of the semiconductor company’s stock worth $17,388,000 after acquiring an additional 11,075 shares during the period. Resources Management Corp CT ADV increased its stake in shares of Synopsys by 189.0% during the second quarter. Resources Management Corp CT ADV now owns 341 shares of the semiconductor company’s stock worth $203,000 after acquiring an additional 223 shares during the period. Finally, Morse Asset Management Inc raised its holdings in Synopsys by 7.1% during the second quarter. Morse Asset Management Inc now owns 2,420 shares of the semiconductor company’s stock worth $1,440,000 after purchasing an additional 160 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SNPS. KeyCorp boosted their target price on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. JPMorgan Chase & Co. increased their price objective on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Robert W. Baird boosted their target price on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a report on Friday, August 23rd. Finally, Piper Sandler reissued an “overweight” rating and set a $687.00 price objective on shares of Synopsys in a report on Thursday, August 22nd. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $630.09.

Insider Buying and Selling

In other Synopsys news, insider Geus Aart De sold 27,753 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $618.58, for a total value of $17,167,450.74. Following the transaction, the insider now directly owns 106,983 shares in the company, valued at approximately $66,177,544.14. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction that occurred 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 completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Geus Aart De sold 27,753 shares of the 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 transaction, the insider now directly owns 106,983 shares in the company, valued at approximately $66,177,544.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,317 shares of company stock worth $37,173,297. 0.66% of the stock is owned by corporate insiders.

Synopsys Price Performance

Shares of NASDAQ SNPS opened at $510.36 on Thursday. The firm’s 50-day moving average is $521.63 and its two-hundred day moving average is $555.52. Synopsys, Inc. has a 12-month low of $440.62 and a 12-month high of $629.38. The company has a market capitalization of $78.20 billion, a PE ratio of 55.47, a price-to-earnings-growth ratio of 3.34 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last announced its 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 return on equity of 22.09% and a net margin of 24.06%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the prior year, the firm earned $2.17 EPS. Synopsys’s quarterly revenue was up 12.7% on a year-over-year basis. On average, analysts forecast 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.