Northcape Capital Pty Ltd Lowers Position in Synopsys, Inc. (NASDAQ:SNPS)

Northcape Capital Pty Ltd lessened its stake in Synopsys, Inc. (NASDAQ:SNPS) by 8.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,038 shares of the semiconductor company’s stock after selling 90 shares during the quarter. Synopsys makes up about 0.1% of Northcape Capital Pty Ltd’s holdings, making the stock its 29th largest position. Northcape Capital Pty Ltd’s holdings in Synopsys were worth $534,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. State Street Corp grew its position in Synopsys by 2.9% in the 2nd quarter. State Street Corp now owns 6,685,758 shares of the semiconductor company’s stock worth $2,911,046,000 after purchasing an additional 186,800 shares in the last quarter. FMR LLC grew its holdings in shares of Synopsys by 8.9% in the third quarter. FMR LLC now owns 4,032,059 shares of the semiconductor company’s stock valued at $1,850,594,000 after acquiring an additional 330,206 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Synopsys by 1.6% in the first quarter. Geode Capital Management LLC now owns 3,245,659 shares of the semiconductor company’s stock valued at $1,250,869,000 after acquiring an additional 52,624 shares in the last quarter. Norges Bank purchased a new stake in shares of Synopsys during the fourth quarter valued at approximately $891,507,000. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in Synopsys by 6.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,150,257 shares of the semiconductor company’s stock worth $686,556,000 after acquiring an additional 133,703 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insiders Place Their Bets

In other news, CRO Richard S. Mahoney sold 9,065 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $494.70, for a total value of $4,484,455.50. Following the completion of the transaction, the executive now directly owns 1,617 shares in the company, valued at $799,929.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Mercedes Johnson sold 3,500 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $494.70, for a total transaction of $1,731,450.00. Following the completion of the transaction, the director now directly owns 1,697 shares in the company, valued at $839,505.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CRO Richard S. Mahoney sold 9,065 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $494.70, for a total value of $4,484,455.50. Following the completion of the transaction, the executive now owns 1,617 shares in the company, valued at $799,929.90. The disclosure for this sale can be found here. Insiders sold a total of 36,586 shares of company stock worth $19,868,728 in the last quarter. 0.66% of the stock is owned by company insiders.

Synopsys Trading Up 0.0 %

Shares of NASDAQ SNPS traded up $0.17 during midday trading on Thursday, hitting $573.52. The company’s stock had a trading volume of 227,585 shares, compared to its average volume of 1,316,169. The firm has a market capitalization of $87.48 billion, a price-to-earnings ratio of 63.14, a P/E/G ratio of 3.32 and a beta of 1.07. The stock has a fifty day moving average price of $560.11 and a 200 day moving average price of $521.79. Synopsys, Inc. has a one year low of $360.36 and a one year high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.13. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.65 billion. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The business’s quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.75 earnings per share. On average, equities research analysts predict that Synopsys, Inc. will post 10.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SNPS has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research note on Friday, March 22nd. Wells Fargo & Company increased their price target on shares of Synopsys from $620.00 to $630.00 and gave the company an “overweight” rating in a research report on Wednesday, December 13th. StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Rosenblatt Securities reissued a “buy” rating and set a $615.00 target price on shares of Synopsys in a research report on Thursday, March 21st. Finally, Robert W. Baird lifted their price target on shares of Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $594.60.

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.