Massachusetts Financial Services Co. MA Has $1.46 Billion Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Massachusetts Financial Services Co. MA decreased its stake in Synopsys, Inc. (NASDAQ:SNPS) by 0.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,450,569 shares of the semiconductor company’s stock after selling 21,345 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.60% of Synopsys worth $1,458,236,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNPS. ORG Partners LLC raised its stake in Synopsys by 600.0% during the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after buying an additional 36 shares during the period. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of Synopsys during the fourth quarter worth about $28,000. Chris Bulman Inc bought a new position in shares of Synopsys during the 2nd quarter valued at about $30,000. Jones Financial Companies Lllp grew its position in shares of Synopsys by 233.3% in the 4th quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 42 shares during the period. Finally, Activest Wealth Management bought a new stake in Synopsys during the 1st quarter worth approximately $35,000. Institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling at Synopsys

In other news, insider Geus Aart De sold 8,158 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $602.59, for a total value of $4,915,929.22. Following the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at $64,466,885.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value of $5,701,189.77. Following the completion of the sale, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Geus Aart De sold 8,158 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $602.59, for a total value of $4,915,929.22. Following the transaction, the insider now owns 106,983 shares in the company, valued at approximately $64,466,885.97. The disclosure for this sale can be found here. Insiders sold 73,687 shares of company stock valued at $44,616,637 in the last quarter. 0.66% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Robert W. Baird increased their price objective on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Rosenblatt Securities reiterated a “buy” rating and set a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. Piper Sandler restated an “overweight” rating and issued a $687.00 price target on shares of Synopsys in a report on Thursday, August 22nd. JPMorgan Chase & Co. increased their price objective on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Finally, KeyCorp lifted their target price on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $630.09.

Synopsys Trading Up 0.2 %

NASDAQ:SNPS opened at $490.07 on Monday. The stock has a market capitalization of $75.09 billion, a PE ratio of 53.27, a P/E/G ratio of 3.23 and a beta of 1.08. The firm has a fifty day simple moving average of $536.92 and a 200 day simple moving average of $559.22. Synopsys, Inc. has a 1-year low of $440.62 and a 1-year high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, topping analysts’ consensus estimates of $3.28 by $0.15. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the business earned $2.17 earnings per share. The business’s revenue was up 12.7% compared to the same quarter last year. On average, equities analysts predict that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal 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.