Robeco Institutional Asset Management B.V. Sells 3,674 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Robeco Institutional Asset Management B.V. lowered its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 5.4% during the third quarter, Holdings Channel reports. The institutional investor owned 64,097 shares of the semiconductor company’s stock after selling 3,674 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Synopsys were worth $32,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in SNPS. ORG Partners LLC increased its stake in Synopsys by 600.0% in the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 36 shares during the period. Chris Bulman Inc bought a new stake in shares of Synopsys in the 2nd quarter valued at approximately $30,000. Pacifica Partners Inc. acquired a new position in shares of Synopsys in the 3rd quarter worth approximately $25,000. Tsfg LLC lifted its position in shares of Synopsys by 75.0% during the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after buying an additional 24 shares during the period. Finally, Fortitude Family Office LLC boosted its stake in Synopsys by 66.7% in the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 24 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Performance

NASDAQ:SNPS opened at $521.98 on Wednesday. The company has a market cap of $80.18 billion, a price-to-earnings ratio of 54.15, a P/E/G ratio of 3.16 and a beta of 1.08. The stock’s fifty day moving average price is $504.94 and its two-hundred day moving average price is $544.22. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38.

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

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total value of $5,701,189.77. Following the transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Robert W. Baird increased their price objective on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Needham & Company LLC reiterated a “buy” rating and set a $640.00 target price on shares of Synopsys in a research report on Tuesday, October 22nd. Mizuho started coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. Finally, Piper Sandler cut their target price on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Synopsys presently has a consensus rating of “Buy” and an average price target of $643.00.

Synopsys 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.