Public Employees Retirement System of Ohio Sells 7,845 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Public Employees Retirement System of Ohio lowered its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 9.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 78,449 shares of the semiconductor company’s stock after selling 7,845 shares during the period. Public Employees Retirement System of Ohio owned 0.05% of Synopsys worth $44,834,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bay Harbor Wealth Management LLC bought a new stake in shares of Synopsys in the first quarter valued at approximately $26,000. University of Texas Texas AM Investment Managment Co. bought a new stake in Synopsys during the fourth quarter worth $28,000. Jones Financial Companies Lllp lifted its stake in Synopsys by 233.3% during the fourth quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 42 shares during the last quarter. Activest Wealth Management bought a new stake in Synopsys during the first quarter worth $35,000. Finally, Hazlett Burt & Watson Inc. lifted its stake in Synopsys by 40.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 20 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of SNPS stock traded up $4.16 on Monday, reaching $550.54. 305,132 shares of the company were exchanged, compared to its average volume of 1,052,172. The company has a market cap of $84.35 billion, a price-to-earnings ratio of 59.39, a PEG ratio of 3.53 and a beta of 1.07. The company has a 50-day moving average of $589.14 and a 200-day moving average of $566.20. Synopsys, Inc. has a one year low of $418.51 and a one year high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share for the quarter, missing the consensus estimate of $3.03 by ($0.03). Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the business posted $1.76 EPS. Synopsys’s revenue was up 15.2% compared to the same quarter last year. As a group, sell-side analysts predict that Synopsys, Inc. will post 9.66 EPS for the current year.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $582.41, for a total value of $5,995,328.54. Following the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $36,440,228.88. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $36,440,228.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mercedes Johnson sold 5,500 shares of Synopsys stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $581.38, for a total transaction of $3,197,590.00. Following the transaction, the director now directly owns 1,543 shares in the company, valued at approximately $897,069.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 81,363 shares of company stock valued at $49,361,263. 0.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SNPS shares. Needham & Company LLC restated a “buy” rating and set a $660.00 target price on shares of Synopsys in a research note on Thursday, May 23rd. KeyCorp upped their target price on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Rosenblatt Securities restated a “buy” rating and set a $615.00 target price on shares of Synopsys in a research note on Thursday, May 23rd. Robert W. Baird upped their price target on shares of Synopsys from $645.00 to $661.00 and gave the stock an “outperform” rating in a report on Tuesday, July 2nd. Finally, Piper Sandler upped their price target on shares of Synopsys from $672.00 to $687.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Synopsys presently has a consensus rating of “Buy” and an average target price of $627.18.

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.