Northcape Capital Pty Ltd Sells 90 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Northcape Capital Pty Ltd trimmed its stake in Synopsys, Inc. (NASDAQ:SNPS) by 8.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,038 shares of the semiconductor company’s stock after selling 90 shares during the period. Synopsys comprises about 0.1% of Northcape Capital Pty Ltd’s investment portfolio, making the stock its 29th biggest position. Northcape Capital Pty Ltd’s holdings in Synopsys were worth $534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in SNPS. Gotham Asset Management LLC lifted its position in Synopsys by 35.9% in the third quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock worth $3,868,000 after purchasing an additional 2,227 shares during the period. Comerica Bank bought a new position in shares of Synopsys during the 3rd quarter worth about $14,203,000. Moody Lynn & Lieberson LLC acquired a new stake in shares of Synopsys during the 3rd quarter valued at about $1,606,000. DNB Asset Management AS increased its stake in Synopsys by 18.6% in the fourth quarter. DNB Asset Management AS now owns 52,711 shares of the semiconductor company’s stock valued at $27,141,000 after acquiring an additional 8,259 shares during the period. Finally, Advisor Resource Council raised its position in Synopsys by 525.4% in the fourth quarter. Advisor Resource Council now owns 3,402 shares of the semiconductor company’s stock worth $1,752,000 after purchasing an additional 2,858 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Insider Activity

In related news, insider John F. Runkel, Jr. sold 2,508 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $506.18, for a total value of $1,269,499.44. Following the transaction, the insider now directly owns 26,780 shares in the company, valued at $13,555,500.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider John F. Runkel, Jr. sold 1,219 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $583.95, for a total transaction of $711,835.05. Following the completion of the transaction, the insider now directly owns 26,780 shares in the company, valued at approximately $15,638,181. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John F. Runkel, Jr. sold 2,508 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $506.18, for a total transaction of $1,269,499.44. Following the completion of the sale, the insider now directly owns 26,780 shares of the company’s stock, valued at approximately $13,555,500.40. The disclosure for this sale can be found here. Insiders have sold 36,586 shares of company stock valued at $19,868,728 over the last 90 days. 0.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

Synopsys Stock Performance

SNPS traded up $0.17 during midday trading on Thursday, hitting $573.52. The company had a trading volume of 227,585 shares, compared to its average volume of 1,316,169. Synopsys, Inc. has a twelve month low of $360.36 and a twelve month high of $629.38. The firm’s 50-day simple moving average is $560.11 and its 200-day simple moving average is $521.79. The company has a market capitalization of $87.48 billion, a PE ratio of 63.14, a P/E/G ratio of 3.32 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the company posted $1.75 EPS. Synopsys’s revenue was up 21.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Synopsys, Inc. will post 10.06 EPS for the current fiscal year.

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.