Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. reduced its position in Synopsys, Inc. (NASDAQ:SNPS) by 7.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 212,205 shares of the semiconductor company’s stock after selling 15,977 shares during the quarter. Russell Investments Group Ltd. owned about 0.14% of Synopsys worth $109,378,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. FMR LLC increased its stake in shares of Synopsys by 8.9% in the 3rd quarter. FMR LLC now owns 4,032,059 shares of the semiconductor company’s stock worth $1,850,594,000 after acquiring an additional 330,206 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Synopsys by 20.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company’s stock worth $925,744,000 after purchasing an additional 344,430 shares during the period. Northern Trust Corp grew its holdings in shares of Synopsys by 4.9% during the 3rd quarter. Northern Trust Corp now owns 1,687,602 shares of the semiconductor company’s stock worth $774,559,000 after purchasing an additional 78,848 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Synopsys by 4.3% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 885,083 shares of the semiconductor company’s stock valued at $406,227,000 after acquiring an additional 36,470 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Synopsys by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 826,010 shares of the semiconductor company’s stock valued at $379,114,000 after acquiring an additional 7,294 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Synopsys

In other news, insider John F. Runkel, Jr. sold 1,219 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $583.95, for a total transaction of $711,835.05. Following the sale, the insider now owns 26,780 shares of the company’s stock, valued at approximately $15,638,181. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Synopsys news, insider John F. Runkel, Jr. sold 1,219 shares of Synopsys stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $583.95, for a total transaction of $711,835.05. Following the transaction, the insider now owns 26,780 shares of the company’s stock, valued at $15,638,181. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Marc N. Casper purchased 750 shares of the business’s stock in a transaction on Monday, March 25th. The shares were purchased at an average cost of $585.45 per share, for a total transaction of $439,087.50. Following the transaction, the director now owns 1,736 shares of the company’s stock, valued at $1,016,341.20. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 26,832 shares of company stock valued at $15,464,992. Corporate insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on SNPS. Rosenblatt Securities restated a “buy” rating and set a $615.00 target price on shares of Synopsys in a report on Thursday, March 21st. Needham & Company LLC restated a “buy” rating and set a $660.00 target price on shares of Synopsys in a report on Friday, March 22nd. Robert W. Baird raised their target price on Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. StockNews.com upgraded Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Finally, Piper Sandler initiated coverage on Synopsys in a report on Thursday, April 4th. They set an “overweight” rating and a $665.00 target price for the company. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $601.00.

Synopsys Price Performance

Shares of NASDAQ SNPS traded up $13.55 during midday trading on Friday, hitting $543.66. 997,562 shares of the company’s stock were exchanged, compared to its average volume of 908,153. Synopsys, Inc. has a twelve month low of $362.06 and a twelve month high of $629.38. The company has a market cap of $82.91 billion, a PE ratio of 59.87, a P/E/G ratio of 3.18 and a beta of 1.06. The firm’s fifty day simple moving average is $563.73 and its 200-day simple moving average is $536.29.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.13. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the company earned $1.75 EPS. The business’s quarterly revenue was up 21.1% on a year-over-year basis. Equities analysts anticipate that Synopsys, Inc. will post 9.78 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.