AIA Group Ltd Has $3.56 Million Holdings in Synopsys, Inc. (NASDAQ:SNPS)

AIA Group Ltd lessened its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,909 shares of the semiconductor company’s stock after selling 210 shares during the period. AIA Group Ltd’s holdings in Synopsys were worth $3,558,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new position in shares of Synopsys in the 3rd quarter valued at about $26,000. Freedom Wealth Alliance LLC acquired a new position in shares of Synopsys in the 4th quarter valued at about $26,000. Venturi Wealth Management LLC bought a new stake in shares of Synopsys in the 3rd quarter valued at approximately $27,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Synopsys in the 3rd quarter valued at approximately $29,000. Finally, VitalStone Financial LLC bought a new stake in shares of Synopsys in the 1st quarter valued at approximately $30,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Down 1.4 %

Shares of SNPS stock traded down $7.62 during trading hours on Thursday, reaching $519.96. 826,088 shares of the company’s stock were exchanged, compared to its average volume of 1,237,787. Synopsys, Inc. has a fifty-two week low of $360.36 and a fifty-two week high of $629.38. The stock has a market capitalization of $79.29 billion, a P/E ratio of 58.10, a P/E/G ratio of 3.16 and a beta of 1.06. The business has a fifty day moving average price of $568.97 and a 200-day moving average price of $533.52.

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

Insider Activity at Synopsys

In related news, Director Roy Vallee sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $572.66, for a total value of $5,726,600.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $11,453,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Synopsys news, insider John F. Runkel, Jr. sold 5,319 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the completion of the transaction, the insider now directly owns 20,000 shares in the company, valued at $11,587,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roy Vallee sold 10,000 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $572.66, for a total value of $5,726,600.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at $11,453,200. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,832 shares of company stock worth $15,464,992. 0.66% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.