Synopsys, Inc. (NASDAQ:SNPS) Stake Lowered by Natixis Advisors LLC

Natixis Advisors LLC decreased its stake in Synopsys, Inc. (NASDAQ:SNPS) by 6.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 171,708 shares of the semiconductor company’s stock after selling 11,073 shares during the period. Natixis Advisors LLC’s holdings in Synopsys were worth $86,951,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in SNPS. Swedbank AB acquired a new position in shares of Synopsys during the first quarter valued at $1,051,637,000. Price T Rowe Associates Inc. MD lifted its position in Synopsys by 39.6% in 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 during the last quarter. GQG Partners LLC boosted its stake in Synopsys by 91.6% during 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 bought a new position in Synopsys in the 2nd quarter worth about $572,050,000. Finally, Capital World Investors increased 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 valued at $4,211,892,000 after purchasing an additional 818,485 shares during the period. Institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of SNPS opened at $520.75 on Friday. The firm’s 50 day moving average is $514.14 and its 200-day moving average is $545.35. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The stock has a market capitalization of $79.99 billion, a P/E ratio of 54.02, a P/E/G ratio of 3.18 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, topping analysts’ consensus estimates of $3.28 by $0.15. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period last year, the firm posted $2.17 earnings per share. As a group, equities research analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Analysts Set New Price Targets

SNPS has been the subject of several analyst reports. Loop Capital assumed coverage on Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective for the company. Berenberg Bank initiated coverage on Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target for the company. Robert W. Baird raised their price target on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. upped their price objective on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Finally, Rosenblatt Securities reissued a “buy” rating and set a $635.00 target price on shares of Synopsys in a research note on Friday, August 23rd. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $649.82.

Insider Buying and Selling

In other news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. This represents a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.66% of the company’s stock.

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.