Clearbridge Investments LLC Has $40.79 Million Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Clearbridge Investments LLC trimmed its position in Synopsys, Inc. (NASDAQ:SNPS) by 6.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 79,213 shares of the semiconductor company’s stock after selling 5,429 shares during the quarter. Clearbridge Investments LLC owned approximately 0.05% of Synopsys worth $40,788,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Gotham Asset Management LLC raised its holdings in shares of Synopsys by 35.9% in the 3rd quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock valued at $3,868,000 after purchasing an additional 2,227 shares during the period. abrdn plc raised its holdings in shares of Synopsys by 56.9% in the 4th quarter. abrdn plc now owns 84,369 shares of the semiconductor company’s stock valued at $43,442,000 after purchasing an additional 30,581 shares during the period. Simplicity Solutions LLC raised 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 valued at $2,219,000 after purchasing an additional 1,539 shares during the period. Comerica Bank bought a new position in Synopsys in the 3rd quarter valued at about $14,203,000. Finally, DNB Asset Management AS raised its holdings in Synopsys by 18.6% in the 4th quarter. DNB Asset Management AS now owns 52,711 shares of the semiconductor company’s stock valued at $27,141,000 after acquiring an additional 8,259 shares during the period. 85.47% of the stock is owned by institutional investors.

Insider Activity

In related news, insider John F. Runkel, Jr. sold 5,319 shares of Synopsys stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total transaction 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 $11,587,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider John F. Runkel, Jr. sold 1,219 shares of Synopsys stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total transaction of $711,835.05. Following the completion of the transaction, the insider now owns 26,780 shares of the company’s stock, valued at $15,638,181. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider John F. Runkel, Jr. sold 5,319 shares of Synopsys stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the completion of the sale, the insider now directly owns 20,000 shares of the company’s stock, valued at $11,587,400. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,832 shares of company stock valued at $15,464,992. Insiders own 0.66% of the company’s stock.

Synopsys Price Performance

Shares of Synopsys stock opened at $573.13 on Thursday. The company’s 50 day moving average price is $557.38 and its two-hundred day moving average price is $545.99. The firm has a market capitalization of $87.40 billion, a P/E ratio of 63.12, a P/E/G ratio of 3.34 and a beta of 1.07. Synopsys, Inc. has a fifty-two week low of $390.20 and a fifty-two week high of $629.38.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.03 by ($0.03). The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.50 billion. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. Synopsys’s revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.76 EPS. On average, analysts expect that Synopsys, Inc. will post 9.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SNPS shares. Needham & Company LLC reissued a “buy” rating and issued a $660.00 price target on shares of Synopsys in a report on Thursday. StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Piper Sandler reaffirmed an “overweight” rating and set a $672.00 target price (up from $665.00) on shares of Synopsys in a report on Thursday. Robert W. Baird raised their target price on shares of Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $615.00 target price on shares of Synopsys in a report on Thursday. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, Synopsys currently has an average rating of “Buy” and an average target price of $601.64.

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.