Schroder Investment Management Group Buys 17,909 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Schroder Investment Management Group increased its stake in Synopsys, Inc. (NASDAQ:SNPSFree Report) by 13.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 148,602 shares of the semiconductor company’s stock after purchasing an additional 17,909 shares during the quarter. Schroder Investment Management Group’s holdings in Synopsys were worth $76,517,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of SNPS. Gotham Asset Management LLC lifted its holdings in shares of Synopsys by 35.9% in the third quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock worth $3,868,000 after buying an additional 2,227 shares in the last quarter. abrdn plc increased its position in shares of Synopsys by 56.9% in the fourth quarter. abrdn plc now owns 84,369 shares of the semiconductor company’s stock worth $43,442,000 after purchasing an additional 30,581 shares during the last quarter. Simplicity Solutions LLC raised its stake in Synopsys by 55.5% in the fourth quarter. Simplicity Solutions LLC now owns 4,310 shares of the semiconductor company’s stock valued at $2,219,000 after purchasing an additional 1,539 shares in the last quarter. Comerica Bank bought a new position in shares of Synopsys in the 3rd quarter worth $14,203,000. Finally, APG Asset Management US Inc. purchased a new stake in Synopsys during the fourth quarter valued at about $15,681,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Trading Down 0.4 %

SNPS traded down $2.40 during midday trading on Friday, reaching $571.45. The company’s stock had a trading volume of 423,799 shares, compared to its average volume of 868,630. Synopsys, Inc. has a 1 year low of $416.87 and a 1 year high of $629.38. The stock’s 50-day moving average is $557.09 and its 200-day moving average is $550.48. The firm has a market capitalization of $87.56 billion, a price-to-earnings ratio of 62.11, a PEG ratio of 3.70 and a beta of 1.08.

Synopsys (NASDAQ:SNPSGet Free Report) last posted its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share for the quarter, missing the consensus estimate of $3.03 by ($0.03). The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The business’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.76 EPS. As a group, equities research analysts forecast that Synopsys, Inc. will post 9.66 earnings per share for the current fiscal year.

Insider Transactions at Synopsys

In related news, Director Mercedes Johnson sold 5,500 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $581.38, for a total transaction of $3,197,590.00. Following the sale, the director now directly owns 1,543 shares of the company’s stock, valued at approximately $897,069.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider John F. Runkel, Jr. sold 5,319 shares of the company’s 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 transaction, the insider now owns 20,000 shares of the company’s stock, valued at approximately $11,587,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mercedes Johnson sold 5,500 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $581.38, for a total transaction of $3,197,590.00. Following the transaction, the director now directly owns 1,543 shares of the company’s stock, valued at $897,069.34. The disclosure for this sale can be found here. Insiders sold a total of 22,352 shares of company stock valued at $12,996,801 in the last quarter. 0.66% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SNPS has been the subject of several analyst reports. Piper Sandler restated an “overweight” rating and set a $672.00 price target (up from $665.00) on shares of Synopsys in a research report on Thursday, May 23rd. Robert W. Baird increased their target price on shares of Synopsys from $640.00 to $645.00 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. JPMorgan Chase & Co. boosted their price target on Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a report on Thursday, May 23rd. Finally, StockNews.com raised Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $616.18.

View Our Latest Research Report on Synopsys

About Synopsys

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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