Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Desjardins Global Asset Management Inc.

Desjardins Global Asset Management Inc. lowered its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 88.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 996 shares of the semiconductor company’s stock after selling 7,944 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Synopsys were worth $513,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SNPS. Cibc World Market Inc. grew its stake in shares of Synopsys by 58.8% during the first quarter. Cibc World Market Inc. now owns 11,893 shares of the semiconductor company’s stock worth $3,964,000 after purchasing an additional 4,402 shares in the last quarter. Prudential PLC acquired a new position in Synopsys in the first quarter valued at $993,000. Sequoia Financial Advisors LLC acquired a new position in Synopsys in the first quarter valued at $240,000. Covestor Ltd boosted its stake in Synopsys by 18.9% in the first quarter. Covestor Ltd now owns 271 shares of the semiconductor company’s stock valued at $90,000 after acquiring an additional 43 shares in the last quarter. Finally, Mather Group LLC. boosted its stake in Synopsys by 64.4% in the first quarter. Mather Group LLC. now owns 1,680 shares of the semiconductor company’s stock valued at $560,000 after acquiring an additional 658 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Down 2.5 %

Shares of Synopsys stock opened at $527.58 on Thursday. The firm has a market cap of $80.46 billion, a PE ratio of 58.10, a P/E/G ratio of 3.16 and a beta of 1.06. Synopsys, Inc. has a fifty-two week low of $360.36 and a fifty-two week high of $629.38. The business’s fifty day moving average is $568.97 and its two-hundred day moving average is $533.52.

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

Insider Activity at Synopsys

In related news, insider John F. Runkel, Jr. sold 5,319 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total value of $3,081,669.03. Following the completion of the sale, the insider now directly owns 20,000 shares in the company, valued at $11,587,400. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Synopsys news, Director Marc N. Casper acquired 750 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was bought at an average cost of $585.45 per share, for a total transaction of $439,087.50. Following the completion of the purchase, the director now directly owns 1,736 shares in the company, valued at $1,016,341.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John F. Runkel, Jr. sold 5,319 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the sale, the insider now owns 20,000 shares of the company’s stock, valued at $11,587,400. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,832 shares of company stock worth $15,464,992. 0.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SNPS shares. 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. Piper Sandler started coverage on shares of Synopsys in a research note on Thursday, April 4th. They set an “overweight” rating and a $665.00 target price for the company. Rosenblatt Securities reiterated a “buy” rating and set a $615.00 target price on shares of Synopsys in a research note on Thursday, March 21st. Robert W. Baird increased their target price on shares of Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. Finally, StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Synopsys has a consensus rating of “Buy” and a consensus price target of $601.00.

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.