Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Meiji Yasuda Life Insurance Co

by · The Cerbat Gem

Meiji Yasuda Life Insurance Co lowered its position in Synopsys, Inc. (NASDAQ:SNPS – Free Report) by 11.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,729 shares of the semiconductor company’s stock after selling 582 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in Synopsys were worth $2,814,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SNPS. Swedbank AB acquired a new position in shares of Synopsys in the first quarter worth about $1,051,637,000. Price T Rowe Associates Inc. MD raised its position in shares of Synopsys by 39.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock worth $3,050,441,000 after acquiring an additional 1,514,449 shares during the period. GQG Partners LLC raised its position in shares of Synopsys by 91.6% in the first quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock worth $1,197,350,000 after acquiring an additional 1,001,371 shares during the period. Sustainable Growth Advisers LP acquired a new position in shares of Synopsys in the second quarter worth about $572,050,000. Finally, Capital World Investors raised its position in shares of Synopsys by 12.5% during the 1st quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock worth $4,211,892,000 after purchasing an additional 818,485 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Trading Up 0.7 %

SNPS stock opened at $502.25 on Wednesday. The company has a market cap of $76.95 billion, a price-to-earnings ratio of 54.59, a PEG ratio of 3.23 and a beta of 1.08. Synopsys, Inc. has a 12 month low of $440.62 and a 12 month high of $629.38. The firm has a 50-day moving average of $532.47 and a two-hundred day moving average of $558.06.

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. KeyCorp upped their price target on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Piper Sandler restated an “overweight” rating and set a $687.00 price target on shares of Synopsys in a research report on Thursday, August 22nd. Rosenblatt Securities restated a “buy” rating and set a $635.00 price target on shares of Synopsys in a research report on Friday, August 23rd. Finally, Robert W. Baird upped their price target on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $630.09.

Read Our Latest Stock Analysis on Synopsys

Insider Activity

In other news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $34,655,789.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the completion of the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Geus Aart De sold 493 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $620.60, for a total transaction of $305,955.80. Following the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $66,393,649.80. The disclosure for this sale can be found here. Insiders sold a total of 73,687 shares of company stock valued at $44,616,637 in the last 90 days. Company insiders own 0.66% of the company’s stock.

Synopsys Profile

(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.

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