E Fund Management Co. Ltd. Cuts Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

E Fund Management Co. Ltd. lowered its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 8.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,584 shares of the semiconductor company’s stock after selling 232 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Synopsys were worth $1,331,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. National Pension Service raised its holdings in Synopsys by 2.7% during the fourth quarter. National Pension Service now owns 311,789 shares of the semiconductor company’s stock worth $160,543,000 after purchasing an additional 8,123 shares during the last quarter. Everpar Advisors LLC purchased a new position in shares of Synopsys in the fourth quarter valued at $765,000. Charles Schwab Investment Management Inc. raised its stake in shares of Synopsys by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 849,371 shares of the semiconductor company’s stock worth $437,350,000 after buying an additional 23,361 shares during the last quarter. Apollon Wealth Management LLC boosted its position in shares of Synopsys by 11.1% in the 4th quarter. Apollon Wealth Management LLC now owns 3,836 shares of the semiconductor company’s stock worth $1,975,000 after buying an additional 384 shares in the last quarter. Finally, Fielder Capital Group LLC acquired a new stake in Synopsys in the 4th quarter valued at about $208,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $660.00 price target on shares of Synopsys in a report on Friday, March 22nd. Rosenblatt Securities reiterated a “buy” rating and set a $615.00 target price on shares of Synopsys in a report on Thursday, March 21st. Robert W. Baird raised their price target on Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Piper Sandler initiated coverage on Synopsys in a research report on Thursday, April 4th. They issued an “overweight” rating and a $665.00 price objective on the stock. Finally, StockNews.com upgraded Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $601.00.

Insider Activity at Synopsys

In other news, insider John F. Runkel, Jr. sold 5,319 shares of the stock in a transaction 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 owns 20,000 shares of the company’s stock, valued at $11,587,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Synopsys news, insider John F. Runkel, Jr. sold 5,319 shares of the company’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 value of $3,081,669.03. Following the completion of the transaction, the insider now owns 20,000 shares in the company, valued at approximately $11,587,400. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Roy Vallee sold 10,000 shares of Synopsys stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the sale, the director now owns 20,000 shares in the company, valued at approximately $11,453,200. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,832 shares of company stock worth $15,464,992. Company insiders own 0.66% of the company’s stock.

Synopsys Stock Performance

Synopsys stock traded down $0.61 during trading on Thursday, reaching $549.88. The company had a trading volume of 409,950 shares, compared to its average volume of 1,185,436. Synopsys, Inc. has a 12-month low of $365.46 and a 12-month high of $629.38. The stock’s 50 day moving average price is $559.77 and its two-hundred day moving average price is $539.03. The firm has a market capitalization of $83.86 billion, a price-to-earnings ratio of 60.43, a PEG ratio of 3.14 and a beta of 1.07.

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