Migdal Insurance & Financial Holdings Ltd. Cuts Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Migdal Insurance & Financial Holdings Ltd. trimmed its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 9.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,117 shares of the semiconductor company’s stock after selling 118 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Synopsys were worth $575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Gotham Asset Management LLC boosted its holdings in Synopsys by 35.9% during the 3rd quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock worth $3,868,000 after acquiring an additional 2,227 shares during the last quarter. Comerica Bank purchased a new position in shares of Synopsys in the 3rd quarter worth about $14,203,000. Simplicity Solutions LLC boosted its holdings in shares of Synopsys by 55.5% in the 4th quarter. Simplicity Solutions LLC now owns 4,310 shares of the semiconductor company’s stock worth $2,219,000 after buying an additional 1,539 shares during the last quarter. Moody Lynn & Lieberson LLC purchased a new position in shares of Synopsys in the 3rd quarter worth about $1,606,000. Finally, DNB Asset Management AS boosted its holdings in shares of Synopsys by 18.6% in the 4th quarter. DNB Asset Management AS now owns 52,711 shares of the semiconductor company’s stock worth $27,141,000 after buying an additional 8,259 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Synopsys

In other news, insider John F. Runkel, Jr. sold 5,319 shares of Synopsys stock in a transaction dated Wednesday, April 3rd. The stock was 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider John F. Runkel, Jr. sold 5,319 shares of Synopsys stock in a transaction dated Wednesday, April 3rd. The stock was 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John F. Runkel, Jr. sold 1,219 shares of Synopsys stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $583.95, for a total value of $711,835.05. Following the completion of the transaction, the insider now directly owns 26,780 shares of the company’s stock, valued at approximately $15,638,181. The disclosure for this sale can be found here. Insiders sold a total of 26,832 shares of company stock valued at $15,464,992 in the last quarter. 0.66% of the stock is owned by insiders.

Synopsys Stock Down 2.5 %

NASDAQ:SNPS opened at $527.58 on Thursday. The stock has a market cap of $80.46 billion, a P/E ratio of 58.10, a price-to-earnings-growth ratio of 3.16 and a beta of 1.06. The firm’s fifty day simple moving average is $568.97 and its 200 day simple moving average is $533.52. Synopsys, Inc. has a twelve month low of $360.36 and a twelve month high of $629.38.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SNPS shares. Piper Sandler started coverage on Synopsys in a research note on Thursday, April 4th. They issued an “overweight” rating and a $665.00 price objective on the stock. StockNews.com upgraded Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. 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. 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, 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. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target 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.