Natixis Sells 15,832 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Natixis cut its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 46.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,470 shares of the semiconductor company’s stock after selling 15,832 shares during the quarter. Natixis’ holdings in Synopsys were worth $10,556,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Synopsys by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 13,829,357 shares of the semiconductor company’s stock valued at $7,903,478,000 after acquiring an additional 278,265 shares during the period. Capital World Investors grew its stake in shares of Synopsys by 0.5% during the 4th quarter. Capital World Investors now owns 6,551,405 shares of the semiconductor company’s stock valued at $3,373,384,000 after acquiring an additional 32,430 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Synopsys by 6.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,565,534 shares of the semiconductor company’s stock worth $1,321,019,000 after purchasing an additional 153,053 shares in the last quarter. Norges Bank purchased a new position in Synopsys in the 4th quarter worth approximately $1,272,143,000. Finally, GQG Partners LLC lifted its holdings in Synopsys by 91.6% in the 1st quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock worth $1,197,350,000 after purchasing an additional 1,001,371 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Price Performance

Shares of NASDAQ SNPS traded down $14.61 during midday trading on Thursday, reaching $538.72. 1,269,010 shares of the stock traded hands, compared to its average volume of 1,060,069. The company’s 50 day moving average is $590.16 and its 200 day moving average is $565.19. Synopsys, Inc. has a one year low of $418.51 and a one year high of $629.38. The stock has a market capitalization of $82.54 billion, a PE ratio of 59.29, a P/E/G ratio of 3.80 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last posted its 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). Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter last year, the firm earned $1.76 EPS. Synopsys’s revenue for the quarter was up 15.2% on a year-over-year basis. As a group, equities analysts forecast that Synopsys, Inc. will post 9.66 EPS for the current year.

Insider Buying and Selling at Synopsys

In other Synopsys news, insider Geus Aart De sold 5,448 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $620.95, for a total value of $3,382,935.60. Following the completion of the sale, the insider now owns 106,983 shares of the company’s stock, valued at $66,431,093.85. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $582.41, for a total value of $5,995,328.54. Following the completion of the sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $36,440,228.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Geus Aart De sold 5,448 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $620.95, for a total value of $3,382,935.60. Following the completion of the sale, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $66,431,093.85. The disclosure for this sale can be found here. Insiders have sold 81,363 shares of company stock worth $49,361,263 over the last quarter. Insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SNPS. Robert W. Baird boosted their price target on Synopsys from $645.00 to $661.00 and gave the stock an “outperform” rating in a report on Tuesday, July 2nd. Needham & Company LLC reissued a “buy” rating and issued a $660.00 price target on shares of Synopsys in a report on Thursday, May 23rd. Rosenblatt Securities reissued a “buy” rating and issued a $615.00 price target on shares of Synopsys in a report on Thursday, May 23rd. KeyCorp boosted their price target on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Finally, JPMorgan Chase & Co. boosted their price target on Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price 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.