Synopsys, Inc. (NASDAQ:SNPS) Position Lessened by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS decreased its stake in Synopsys, Inc. (NASDAQ:SNPS) by 37.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,305 shares of the semiconductor company’s stock after selling 9,700 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Synopsys were worth $8,396,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Geneva Partners LLC lifted its holdings in shares of Synopsys by 64.5% in the 4th quarter. Geneva Partners LLC now owns 1,550 shares of the semiconductor company’s stock worth $798,000 after purchasing an additional 608 shares during the last quarter. Greenleaf Trust lifted its holdings in shares of Synopsys by 1.1% in the 4th quarter. Greenleaf Trust now owns 6,026 shares of the semiconductor company’s stock worth $3,103,000 after purchasing an additional 64 shares during the last quarter. Fidelis Capital Partners LLC increased its position in Synopsys by 5.4% in the 4th quarter. Fidelis Capital Partners LLC now owns 837 shares of the semiconductor company’s stock valued at $431,000 after acquiring an additional 43 shares during the period. Western Wealth Management LLC acquired a new stake in Synopsys in the 4th quarter valued at approximately $240,000. Finally, Xponance Inc. increased its position in Synopsys by 0.5% in the 4th quarter. Xponance Inc. now owns 39,718 shares of the semiconductor company’s stock valued at $20,451,000 after acquiring an additional 214 shares during the period. Institutional investors own 85.47% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on SNPS shares. Rosenblatt Securities restated a “buy” rating and issued a $615.00 target price on shares of Synopsys in a research report on Thursday, March 21st. Needham & Company LLC restated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a research report on Friday, March 22nd. Piper Sandler started coverage on Synopsys in a research report on Thursday, April 4th. They issued 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 report on Monday, March 18th. Finally, Robert W. Baird lifted their price target on Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $601.00.

Insider Activity

In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 61,863 shares in the company, valued at $35,726,501.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 61,863 shares in the company, valued at $35,726,501.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roy Vallee sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $572.66, for a total value of $5,726,600.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at approximately $11,453,200. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,832 shares of company stock worth $15,464,992. 0.66% of the stock is owned by corporate insiders.

Synopsys Stock Performance

Shares of SNPS stock traded down $9.00 on Friday, reaching $510.71. 1,192,553 shares of the company’s stock traded hands, compared to its average volume of 880,871. Synopsys, Inc. has a 12-month low of $360.36 and a 12-month high of $629.38. The company has a market capitalization of $77.88 billion, a P/E ratio of 56.25, a price-to-earnings-growth ratio of 3.04 and a beta of 1.06. The business’s 50 day moving average price is $566.66 and its two-hundred day moving average price is $533.75.

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

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.