Trust Investment Advisors Decreases Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Trust Investment Advisors decreased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 9.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 431 shares of the semiconductor company’s stock after selling 44 shares during the period. Trust Investment Advisors’ holdings in Synopsys were worth $222,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Fred Alger Management LLC lifted its holdings in shares of Synopsys by 1.8% during the 3rd quarter. Fred Alger Management LLC now owns 1,150 shares of the semiconductor company’s stock valued at $528,000 after purchasing an additional 20 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Synopsys by 1.3% in the third quarter. UMB Bank n.a. now owns 1,719 shares of the semiconductor company’s stock worth $789,000 after purchasing an additional 22 shares during the last quarter. Obermeyer Wood Investment Counsel Lllp boosted its position in Synopsys by 2.6% in the third quarter. Obermeyer Wood Investment Counsel Lllp now owns 859 shares of the semiconductor company’s stock valued at $394,000 after buying an additional 22 shares during the last quarter. Synovus Financial Corp lifted its stake in Synopsys by 0.7% during the 3rd quarter. Synovus Financial Corp now owns 3,370 shares of the semiconductor company’s stock valued at $1,547,000 after acquiring an additional 23 shares during the period. Finally, State of Wyoming raised its holdings in shares of Synopsys by 23.1% during the second quarter. State of Wyoming now owns 128 shares of the semiconductor company’s stock worth $56,000 after purchasing an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In other Synopsys news, insider John F. Runkel, Jr. sold 5,319 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total value of $3,081,669.03. Following the transaction, the insider now owns 20,000 shares of the company’s stock, valued at $11,587,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider John F. Runkel, Jr. sold 5,319 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total value of $3,081,669.03. Following the sale, the insider now directly owns 20,000 shares in the company, valued at approximately $11,587,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $577.51, for a total value of $5,944,887.94. Following the completion of the sale, the chief executive officer now directly owns 61,863 shares of the company’s stock, valued at $35,726,501.13. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,832 shares of company stock worth $15,464,992. 0.66% of the stock is currently owned by insiders.

Synopsys Price Performance

NASDAQ:SNPS traded down $7.87 during mid-day trading on Thursday, reaching $519.71. The stock had a trading volume of 1,177,449 shares, compared to its average volume of 1,242,955. The stock’s 50 day simple moving average is $568.97 and its two-hundred day simple moving average is $533.52. Synopsys, Inc. has a 1-year low of $360.36 and a 1-year high of $629.38. The company has a market capitalization of $79.26 billion, a price-to-earnings ratio of 58.10, a price-to-earnings-growth ratio of 3.16 and a beta of 1.06.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.13. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the business earned $1.75 EPS. The business’s quarterly revenue was up 21.1% on a year-over-year basis. Sell-side analysts anticipate that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SNPS shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $615.00 price objective on shares of Synopsys in a research note on Thursday, March 21st. Robert W. Baird boosted their target price on Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. StockNews.com upgraded Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Piper Sandler started coverage on Synopsys in a research report on Thursday, April 4th. They set an “overweight” rating and a $665.00 price target for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $660.00 price objective on shares of Synopsys in a report on Friday, March 22nd. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $601.00.

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.