Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by ING Groep NV

ING Groep NV trimmed its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 54.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,215 shares of the semiconductor company's stock after selling 10,806 shares during the quarter. ING Groep NV's holdings in Synopsys were worth $4,666,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swedbank AB acquired a new stake in Synopsys during the first quarter worth about $1,051,637,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Synopsys by 39.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company's stock valued at $3,050,441,000 after purchasing an additional 1,514,449 shares in the last quarter. GQG Partners LLC lifted its stake 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 valued at $1,197,350,000 after purchasing an additional 1,001,371 shares during the period. Sustainable Growth Advisers LP purchased a new stake in Synopsys during the second quarter worth $572,050,000. Finally, Capital World Investors grew its position in Synopsys by 12.5% during the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company's stock valued at $4,211,892,000 after buying an additional 818,485 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on SNPS shares. Rosenblatt Securities reissued a "buy" rating and issued a $635.00 price objective on shares of Synopsys in a report on Friday, August 23rd. Needham & Company LLC reissued a "buy" rating and issued a $640.00 price target on shares of Synopsys in a report on Tuesday, October 22nd. JPMorgan Chase & Co. increased their price objective on shares of Synopsys from $655.00 to $685.00 and gave the company an "overweight" rating in a report on Thursday, August 22nd. Loop Capital initiated coverage on shares of Synopsys in a research report on Monday, November 11th. They set a "buy" rating and a $675.00 price target for the company. Finally, Piper Sandler lowered their price objective on Synopsys from $687.00 to $670.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $649.82.

Synopsys Stock Down 5.0 %

NASDAQ:SNPS traded down $27.56 on Friday, reaching $520.75. The company's stock had a trading volume of 1,025,738 shares, compared to its average volume of 1,060,179. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The stock has a 50 day moving average price of $514.14 and a 200 day moving average price of $545.25. The firm has a market cap of $79.99 billion, a price-to-earnings ratio of 54.02, a price-to-earnings-growth ratio of 3.40 and a beta of 1.08.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its quarterly earnings results 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 net margin of 24.06% and a return on equity of 22.09%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the firm earned $2.17 EPS. The business's revenue was up 12.7% on a year-over-year basis. Equities research analysts expect that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the company's stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the sale, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. This represents a 14.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.66% of the company's stock.

About Synopsys

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.