Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 0.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,287 shares of the semiconductor company’s stock after selling 310 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Synopsys were worth $18,882,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Synopsys by 39.6% in the first 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 last quarter. Swedbank AB raised its stake in Synopsys by 1.4% in the 2nd quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock worth $1,110,461,000 after acquiring an additional 25,999 shares during the last quarter. Van ECK Associates Corp grew its stake in Synopsys by 26.5% during the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after purchasing an additional 335,993 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Synopsys by 6.5% in the first quarter. Janus Henderson Group PLC now owns 1,055,290 shares of the semiconductor company’s stock valued at $603,016,000 after purchasing an additional 63,966 shares during the period. Finally, Vontobel Holding Ltd. raised its stake in shares of Synopsys by 4.7% in the third quarter. Vontobel Holding Ltd. now owns 965,256 shares of the semiconductor company’s stock worth $488,796,000 after purchasing an additional 43,228 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SNPS has been the subject of a number of recent research reports. Berenberg Bank initiated coverage on shares of Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target for the company. Piper Sandler lowered their target price on Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Robert W. Baird lifted their price target on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Needham & Company LLC restated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research report on Tuesday, October 22nd. Finally, Mizuho initiated coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price for the company. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $649.82.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. The trade was a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.66% of the stock is owned by corporate insiders.

Synopsys Stock Up 1.4 %

SNPS stock opened at $541.56 on Thursday. The stock has a market capitalization of $83.19 billion, a P/E ratio of 56.18, a P/E/G ratio of 3.18 and a beta of 1.08. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. The firm has a 50-day simple moving average of $517.91 and a 200-day simple moving average of $545.47.

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. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The business’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.17 earnings per share. On average, analysts expect that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Synopsys 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.