Achmea Investment Management B.V. Trims Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Achmea Investment Management B.V. cut its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 37.8% during the second quarter, Holdings Channel reports. The institutional investor owned 21,560 shares of the semiconductor company’s stock after selling 13,075 shares during the quarter. Achmea Investment Management B.V.’s holdings in Synopsys were worth $12,830,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ORG Partners LLC grew its position in shares of Synopsys by 600.0% in the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after buying an additional 36 shares during the period. Chris Bulman Inc purchased a new stake in Synopsys during the 2nd quarter valued at about $30,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in Synopsys during the 4th quarter valued at about $28,000. Jones Financial Companies Lllp grew its position in Synopsys by 233.3% during the 4th quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 42 shares during the last quarter. Finally, Fortitude Family Office LLC grew its position in Synopsys by 66.7% during the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 24 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the sale, the chief executive officer now owns 62,568 shares in the company, valued at approximately $34,655,789.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the sale, the chief executive officer now owns 62,568 shares in the company, valued at approximately $34,655,789.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Geus Aart De sold 493 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $620.60, for a total transaction of $305,955.80. Following the sale, the insider now owns 106,983 shares in the company, valued at approximately $66,393,649.80. The disclosure for this sale can be found here. Insiders have sold 73,687 shares of company stock worth $44,616,637 in the last quarter. Company insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

SNPS has been the topic of several recent analyst reports. Rosenblatt Securities reissued a “buy” rating and set a $635.00 price objective on shares of Synopsys in a research report on Friday, August 23rd. Robert W. Baird increased their price objective on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Piper Sandler reissued an “overweight” rating and set a $687.00 price objective on shares of Synopsys in a research report on Thursday, August 22nd. Needham & Company LLC reissued a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research report on Thursday, August 22nd. Finally, KeyCorp upped their target price on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, Synopsys has a consensus rating of “Buy” and an average price target of $630.09.

Synopsys Stock Up 3.4 %

Shares of NASDAQ:SNPS opened at $481.50 on Thursday. The firm’s 50 day moving average price is $541.91 and its 200-day moving average price is $560.49. Synopsys, Inc. has a twelve month low of $440.62 and a twelve month high of $629.38. The stock has a market capitalization of $73.77 billion, a PE ratio of 52.34, a price-to-earnings-growth ratio of 3.06 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the prior year, the business earned $2.17 EPS. The business’s quarterly revenue was up 12.7% on a year-over-year basis. Analysts expect that Synopsys, Inc. will post 9.45 earnings per share 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.