Prudential PLC Sells 1,485 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Prudential PLC lessened its stake in Synopsys, Inc. (NASDAQ:SNPS) by 8.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,266 shares of the semiconductor company’s stock after selling 1,485 shares during the period. Prudential PLC’s holdings in Synopsys were worth $9,084,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in 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 valued at $25,000 after buying an additional 36 shares during the last quarter. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of Synopsys in the 4th quarter valued at about $28,000. Chris Bulman Inc bought a new stake in shares of Synopsys in the 2nd quarter valued at about $30,000. Jones Financial Companies Lllp grew its position in shares of Synopsys by 233.3% in the 4th quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 42 shares during the last quarter. Finally, Activest Wealth Management bought a new stake in shares of Synopsys in the 1st quarter valued at about $35,000. Institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on SNPS. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research report on Friday, August 23rd. Robert W. Baird upped their target price on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Needham & Company LLC restated a “buy” rating and set a $640.00 target price on shares of Synopsys in a research report on Thursday, August 22nd. Piper Sandler restated an “overweight” rating and set a $687.00 target price on shares of Synopsys in a research report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. upped their target price on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $630.09.

Synopsys Stock Performance

SNPS stock opened at $464.16 on Tuesday. The stock’s 50 day simple moving average is $547.30 and its 200 day simple moving average is $561.82. Synopsys, Inc. has a fifty-two week low of $440.62 and a fifty-two week high of $629.38. The company has a market cap of $71.30 billion, a P/E ratio of 50.45, a price-to-earnings-growth ratio of 3.06 and a beta of 1.08.

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

Insider Buying and Selling

In other news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $553.89, for a total value of $5,701,189.77. Following the completion of the sale, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Geus Aart De sold 8,158 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $602.59, for a total transaction of $4,915,929.22. Following the transaction, the insider now directly owns 106,983 shares in the company, valued at $64,466,885.97. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,687 shares of company stock valued at $44,616,637. 0.66% of the stock is owned by company insiders.

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.