Fulton Bank N.A. Decreases Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Fulton Bank N.A. reduced its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 3.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,447 shares of the semiconductor company’s stock after selling 50 shares during the quarter. Fulton Bank N.A.’s holdings in Synopsys were worth $733,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised 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 valued at $7,903,478,000 after acquiring an additional 278,265 shares during the last quarter. Capital World Investors raised its position in Synopsys by 12.5% during 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 purchasing an additional 818,485 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in 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 worth $3,050,441,000 after buying an additional 1,514,449 shares during the period. GQG Partners LLC grew its position in shares of Synopsys by 91.6% in the 1st quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock worth $1,197,350,000 after buying an additional 1,001,371 shares during the last quarter. Finally, Swedbank AB increased its stake in shares of Synopsys by 1.4% during the second quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock valued at $1,110,461,000 after buying an additional 25,999 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Performance

SNPS stock opened at $517.76 on Wednesday. The firm has a 50 day moving average price of $511.05 and a 200-day moving average price of $551.13. Synopsys, Inc. has a 52-week low of $448.91 and a 52-week high of $629.38. The firm has a market capitalization of $79.33 billion, a price-to-earnings ratio of 56.28, a PEG ratio of 3.28 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (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 business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the business earned $2.17 earnings per share. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research note on Friday, August 23rd. Robert W. Baird lifted their target price on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. 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. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research report on Thursday, August 22nd. Finally, KeyCorp increased 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. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Synopsys currently has an average rating of “Buy” and a consensus target price of $638.00.

Insider Buying and Selling

In other Synopsys news, insider Geus Aart De sold 493 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $620.60, for a total transaction of $305,955.80. Following the completion of the sale, the insider now directly owns 106,983 shares in the company, valued at approximately $66,393,649.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Synopsys news, insider Geus Aart De sold 493 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $620.60, for a total transaction of $305,955.80. Following the sale, the insider now directly owns 106,983 shares in the company, valued at approximately $66,393,649.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value of $5,701,189.77. Following the completion of the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $34,655,789.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

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.