Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC cut its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 6.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 171,708 shares of the semiconductor company's stock after selling 11,073 shares during the quarter. Natixis Advisors LLC owned approximately 0.11% of Synopsys worth $86,951,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in SNPS. Kingsview Wealth Management LLC acquired a new position in Synopsys during the first quarter worth about $239,000. Davidson Capital Management Inc. grew its position in shares of Synopsys by 33,828.6% in the third quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company's stock valued at $2,405,000 after purchasing an additional 4,736 shares in the last quarter. Harvest Portfolios Group Inc. lifted its position in Synopsys by 3.7% during the third quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company's stock worth $21,330,000 after buying an additional 1,496 shares in the last quarter. Jacobs & Co. CA acquired a new position in Synopsys during the third quarter worth $10,554,000. Finally, Vontobel Holding Ltd. grew its holdings in Synopsys by 4.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 965,256 shares of the semiconductor company's stock valued at $488,796,000 after buying an additional 43,228 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the firm's 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 transaction, the chief executive officer now owns 62,568 shares of the company's stock, valued at $34,655,789.52. This trade represents a 14.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.66% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

SNPS has been the topic of several analyst reports. Loop Capital initiated coverage on Synopsys in a report on Monday, November 11th. They set a "buy" rating and a $675.00 price target on the stock. Piper Sandler decreased their target price on shares of Synopsys from $687.00 to $670.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. Mizuho started coverage on shares of Synopsys in a report on Tuesday, October 22nd. They set an "outperform" rating and a $650.00 price target for the company. Needham & Company LLC reiterated a "buy" rating and issued a $640.00 price objective on shares of Synopsys in a report on Tuesday, October 22nd. Finally, 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. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $649.82.

Synopsys Trading Down 5.0 %

Synopsys stock traded down $27.56 during midday trading on Friday, reaching $520.75. 1,025,738 shares of the stock traded hands, compared to its average volume of 846,867. The firm has a market cap of $79.99 billion, a PE ratio of 54.02, a price-to-earnings-growth ratio of 3.18 and a beta of 1.08. The company has a 50-day simple moving average of $514.14 and a two-hundred day simple moving average of $545.35. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, beating analysts' consensus estimates of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The firm 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 posted $2.17 earnings per share. The business's quarterly revenue was up 12.7% compared to the same quarter last year. Equities research analysts anticipate 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.