Massachusetts Financial Services Co. MA Has $1.02 Billion Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Massachusetts Financial Services Co. MA cut its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 17.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,012,994 shares of the semiconductor company’s stock after selling 437,575 shares during the period. Massachusetts Financial Services Co. MA owned 1.31% of Synopsys worth $1,019,360,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Lake Street Advisors Group LLC grew its stake in shares of Synopsys by 33.9% in the first quarter. Lake Street Advisors Group LLC now owns 872 shares of the semiconductor company’s stock valued at $498,000 after acquiring an additional 221 shares in the last quarter. Crewe Advisors LLC bought a new position in shares of Synopsys during the first quarter worth approximately $81,000. CreativeOne Wealth LLC acquired a new stake in shares of Synopsys in the first quarter valued at approximately $1,085,000. EP Wealth Advisors LLC boosted its stake in shares of Synopsys by 17.6% in the first quarter. EP Wealth Advisors LLC now owns 1,400 shares of the semiconductor company’s stock valued at $800,000 after buying an additional 210 shares during the period. Finally, Axxcess Wealth Management LLC grew its position in Synopsys by 44.9% during the first quarter. Axxcess Wealth Management LLC now owns 4,030 shares of the semiconductor company’s stock worth $2,303,000 after buying an additional 1,249 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Trading Up 1.4 %

Shares of SNPS stock opened at $541.56 on Thursday. The firm has a fifty day simple moving average of $517.91 and a two-hundred day simple moving average of $545.47. The firm has a market capitalization of $83.19 billion, a PE ratio of 56.18, a price-to-earnings-growth ratio of 3.26 and a beta of 1.08. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, beating analysts’ consensus estimates of $3.28 by $0.15. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the company earned $2.17 earnings per share. On average, equities analysts predict that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 price objective on shares of Synopsys in a research report on Friday, August 23rd. Loop Capital initiated 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. Needham & Company LLC reissued a “buy” rating and set a $640.00 target price on shares of Synopsys in a research note on Tuesday, October 22nd. Piper Sandler reduced their price target on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Berenberg Bank began coverage on shares of Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective for the company. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, Synopsys presently has an average rating of “Buy” and an average price target of $649.82.

Insider Transactions at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value of $5,701,189.77. Following the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The trade was a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company 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.