Forsta AP Fonden Sells 10,100 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Forsta AP Fonden lessened its holdings in Synopsys, Inc. (NASDAQ:SNPSGet Rating) by 18.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,100 shares of the semiconductor company’s stock after selling 10,100 shares during the quarter. Forsta AP Fonden’s holdings in Synopsys were worth $14,697,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Curi Wealth Management LLC acquired a new position in Synopsys during the fourth quarter worth $26,000. Confluence Wealth Services Inc. acquired a new position in Synopsys during the fourth quarter worth $31,000. Industrial Alliance Investment Management Inc. acquired a new position in Synopsys during the fourth quarter worth $36,000. Geneos Wealth Management Inc. increased its holdings in Synopsys by 105.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 109 shares of the semiconductor company’s stock worth $40,000 after buying an additional 56 shares during the last quarter. Finally, MCF Advisors LLC acquired a new position in Synopsys during the first quarter worth $40,000. Institutional investors own 84.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SNPS. UBS Group lowered their target price on shares of Synopsys to $360.00 and set a “hold” rating on the stock in a report on Thursday, May 19th. StockNews.com downgraded shares of Synopsys from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 3rd. Needham & Company LLC upped their price objective on shares of Synopsys from $370.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, May 19th. Atlantic Securities decreased their price objective on shares of Synopsys to $350.00 and set a “na” rating on the stock in a report on Thursday, May 19th. Finally, Bank of America upgraded shares of Synopsys from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $325.00 to $360.00 in a report on Wednesday, June 29th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $381.70.

Synopsys Stock Performance

SNPS stock opened at $374.29 on Friday. The company’s 50-day simple moving average is $322.02 and its 200 day simple moving average is $309.19. Synopsys, Inc. has a 52 week low of $255.02 and a 52 week high of $377.60. The company has a market capitalization of $57.26 billion, a PE ratio of 58.21, a price-to-earnings-growth ratio of 3.02 and a beta of 1.22.

Synopsys (NASDAQ:SNPSGet Rating) last released its quarterly earnings results on Wednesday, May 18th. The semiconductor company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.80 by $0.09. Synopsys had a net margin of 21.19% and a return on equity of 18.23%. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the company posted $1.24 earnings per share. On average, analysts forecast that Synopsys, Inc. will post 6.29 EPS for the current year.

Insider Buying and Selling

In related news, CRO Joseph W. Logan sold 53,706 shares of the company’s stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $299.12, for a total transaction of $16,064,538.72. Following the completion of the sale, the executive now owns 99,907 shares of the company’s stock, valued at $29,884,181.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Trac Pham sold 49,072 shares of the company’s stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $305.00, for a total transaction of $14,966,960.00. Following the completion of the sale, the chief financial officer now owns 58,204 shares of the company’s stock, valued at $17,752,220. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Joseph W. Logan sold 53,706 shares of the company’s stock in a transaction dated Friday, May 20th. The stock was sold at an average price of $299.12, for a total transaction of $16,064,538.72. Following the sale, the executive now directly owns 99,907 shares of the company’s stock, valued at approximately $29,884,181.84. The disclosure for this sale can be found here. Insiders sold 129,285 shares of company stock valued at $39,219,908 over the last quarter. 1.20% of the stock is owned by company insiders.

Synopsys Profile

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Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. The company offers Fusion Design Platform that provides digital design implementation solutions; Verification Continuum Platform that provides 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.

Further Reading

Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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