Synopsys, Inc. (NASDAQ:SNPS) Shares Acquired by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 0.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,483 shares of the semiconductor company’s stock after acquiring an additional 179 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Synopsys were worth $19,136,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of SNPS. American Century Companies Inc. increased its holdings in Synopsys by 9.2% in the third quarter. American Century Companies Inc. now owns 120,329 shares of the semiconductor company’s stock valued at $55,227,000 after buying an additional 10,137 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in Synopsys by 31.8% in the third quarter. B. Riley Wealth Advisors Inc. now owns 1,599 shares of the semiconductor company’s stock valued at $734,000 after buying an additional 386 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in Synopsys by 10.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 2,886 shares of the semiconductor company’s stock valued at $1,486,000 after buying an additional 277 shares during the last quarter. Diversified Trust Co increased its holdings in Synopsys by 1.1% in the fourth quarter. Diversified Trust Co now owns 5,674 shares of the semiconductor company’s stock valued at $2,922,000 after buying an additional 64 shares during the last quarter. Finally, Wedmont Private Capital increased its holdings in Synopsys by 6.4% in the fourth quarter. Wedmont Private Capital now owns 3,396 shares of the semiconductor company’s stock valued at $1,698,000 after buying an additional 205 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Activity

In other Synopsys news, insider John F. Runkel, Jr. sold 936 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $566.97, for a total transaction of $530,683.92. Following the sale, the insider now directly owns 20,000 shares of the company’s stock, valued at approximately $11,339,400. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Synopsys news, insider John F. Runkel, Jr. sold 936 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $566.97, for a total transaction of $530,683.92. Following the sale, the insider now directly owns 20,000 shares of the company’s stock, valued at approximately $11,339,400. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Geus Aart De sold 8,648 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $620.29, for a total transaction of $5,364,267.92. Following the sale, the insider now directly owns 106,983 shares in the company, valued at $66,360,485.07. The disclosure for this sale can be found here. In the last 90 days, insiders sold 80,870 shares of company stock worth $49,055,307. Insiders own 0.66% of the company’s stock.

Synopsys Price Performance

Shares of NASDAQ:SNPS traded down $39.11 on Wednesday, reaching $573.90. 836,078 shares of the company traded hands, compared to its average volume of 1,056,394. Synopsys, Inc. has a fifty-two week low of $418.51 and a fifty-two week high of $629.38. The company’s 50 day moving average is $588.78 and its 200-day moving average is $562.54. The stock has a market capitalization of $87.93 billion, a PE ratio of 62.59, a P/E/G ratio of 3.97 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $3.00 EPS for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the company posted $1.76 EPS. Synopsys’s revenue was up 15.2% on a year-over-year basis. As a group, analysts expect that Synopsys, Inc. will post 9.66 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on SNPS shares. Rosenblatt Securities reissued a “buy” rating and issued a $615.00 price objective on shares of Synopsys in a report on Thursday, May 23rd. JPMorgan Chase & Co. upped their target price on Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. KeyCorp upped their target price on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Piper Sandler upped their target price on Synopsys from $672.00 to $687.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Finally, Robert W. Baird upped their target price on Synopsys from $645.00 to $661.00 and gave the company an “outperform” rating in a report on Tuesday, July 2nd. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $627.18.

Synopsys Company 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.