Legal & General Group Plc Decreases Stake in Synopsys, Inc. (NASDAQ:SNPS)

Legal & General Group Plc reduced its stake in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 0.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,403,898 shares of the semiconductor company's stock after selling 3,315 shares during the period. Legal & General Group Plc owned approximately 0.92% of Synopsys worth $835,404,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Synopsys by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 13,829,357 shares of the semiconductor company's stock worth $7,903,478,000 after acquiring an additional 278,265 shares during the period. Capital World Investors raised its stake in shares of Synopsys by 12.5% in the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company's stock worth $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 shares of Synopsys by 39.6% during 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 purchasing an additional 1,514,449 shares during the period. GQG Partners LLC boosted its position in Synopsys by 91.6% in the first quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company's stock valued at $1,197,350,000 after buying an additional 1,001,371 shares during the last quarter. Finally, Swedbank AB boosted its position in Synopsys by 1.4% in 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 last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Stock Up 1.0 %

NASDAQ:SNPS opened at $515.40 on Friday. Synopsys, Inc. has a 52 week low of $442.00 and a 52 week high of $629.38. The stock's 50-day moving average price is $520.43 and its 200-day moving average price is $555.20. The stock has a market capitalization of $78.97 billion, a PE ratio of 56.02, a price-to-earnings-growth ratio of 3.34 and a beta of 1.08.

Synopsys (NASDAQ:SNPS - Get Free Report) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, beating the consensus estimate of $3.28 by $0.15. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. Synopsys's quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the company earned $2.17 earnings per share. Sell-side analysts expect that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Needham & Company LLC reissued a "buy" rating and set a $640.00 price target on shares of Synopsys in a research report on Thursday, August 22nd. Piper Sandler reissued an "overweight" rating and set a $687.00 target price on shares of Synopsys in a report on Thursday, August 22nd. JPMorgan Chase & Co. upped their price target on shares of Synopsys from $655.00 to $685.00 and gave the company an "overweight" rating in a report on Thursday, August 22nd. KeyCorp increased their price target on Synopsys from $675.00 to $690.00 and gave the stock an "overweight" rating in a research report on Thursday, June 27th. Finally, Robert W. Baird boosted their price objective on Synopsys from $661.00 to $663.00 and gave the company an "outperform" rating in a report on Thursday, August 22nd. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $630.09.

Insider Buying and Selling

In other Synopsys news, insider Geus Aart De sold 2,789 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $610.94, for a total transaction of $1,703,911.66. Following the transaction, the insider now directly owns 106,983 shares of the company's stock, valued at $65,360,194.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction dated 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 sale, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Geus Aart De sold 2,789 shares of the business's stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $610.94, for a total value of $1,703,911.66. Following the sale, the insider now owns 106,983 shares of the company's stock, valued at $65,360,194.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,317 shares of company stock valued at $37,173,297. 0.66% of the stock is owned by corporate 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.

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