TimesSquare Capital Management LLC Sells 89,970 Shares of Synopsys, Inc. (NASDAQ:SNPS)

TimesSquare Capital Management LLC cut its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 42.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 120,854 shares of the semiconductor company’s stock after selling 89,970 shares during the period. TimesSquare Capital Management LLC’s holdings in Synopsys were worth $62,229,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. OFI Invest Asset Management bought a new stake in shares of Synopsys during the 3rd quarter worth $26,000. Venturi Wealth Management LLC bought a new stake in shares of Synopsys during the 3rd quarter worth $27,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Synopsys during the 3rd quarter worth $29,000. Catalyst Capital Advisors LLC raised its stake in shares of Synopsys by 34.5% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 113 shares of the semiconductor company’s stock worth $52,000 after purchasing an additional 29 shares during the period. Finally, Keener Financial Planning LLC bought a new stake in shares of Synopsys during the 4th quarter worth $56,000. 85.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $577.51, for a total value of $5,944,887.94. Following the completion of the sale, the chief executive officer now directly owns 61,863 shares in the company, valued at approximately $35,726,501.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Marc N. Casper acquired 750 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were purchased at an average cost of $585.45 per share, for a total transaction of $439,087.50. Following the transaction, the director now directly owns 1,736 shares of the company’s stock, valued at $1,016,341.20. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the sale, the chief executive officer now owns 61,863 shares in the company, valued at $35,726,501.13. The disclosure for this sale can be found here. Insiders have sold 26,832 shares of company stock worth $15,464,992 in the last 90 days. 0.66% of the stock is currently owned by insiders.

Synopsys Stock Down 0.1 %

SNPS traded down $0.61 during mid-day trading on Thursday, reaching $549.88. 410,083 shares of the company traded hands, compared to its average volume of 1,185,437. Synopsys, Inc. has a 52-week low of $365.46 and a 52-week high of $629.38. The company’s fifty day moving average price is $558.90 and its 200-day moving average price is $539.18. The stock has a market capitalization of $83.86 billion, a P/E ratio of 60.56, a P/E/G ratio of 3.14 and a beta of 1.07.

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

Synopsys Company 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.