Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by United Asset Strategies Inc.

United Asset Strategies Inc. cut its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 25.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,927 shares of the semiconductor company’s stock after selling 1,009 shares during the period. United Asset Strategies Inc.’s holdings in Synopsys were worth $1,507,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of SNPS. OFI Invest Asset Management acquired a new position in Synopsys in the third quarter worth about $26,000. Freedom Wealth Alliance LLC acquired a new position in Synopsys in the fourth quarter worth about $26,000. Venturi Wealth Management LLC acquired a new position in Synopsys in the third quarter worth about $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Synopsys in the third quarter worth about $29,000. Finally, VitalStone Financial LLC acquired a new position in Synopsys in the first quarter worth about $30,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Synopsys news, insider John F. Runkel, Jr. sold 1,219 shares of Synopsys stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total value of $711,835.05. Following the transaction, the insider now owns 26,780 shares in the company, valued at $15,638,181. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Synopsys news, Director Roy Vallee sold 10,000 shares of Synopsys stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $11,453,200. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John F. Runkel, Jr. sold 1,219 shares of Synopsys stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $583.95, for a total transaction of $711,835.05. Following the transaction, the insider now owns 26,780 shares in the company, valued at $15,638,181. The disclosure for this sale can be found here. Insiders have sold a total of 26,832 shares of company stock valued at $15,464,992 over the last quarter. Corporate insiders own 0.66% of the company’s stock.

Synopsys Price Performance

Shares of NASDAQ:SNPS opened at $541.09 on Wednesday. Synopsys, Inc. has a 12 month low of $360.36 and a 12 month high of $629.38. The stock has a market cap of $82.52 billion, a price-to-earnings ratio of 59.59, a PEG ratio of 3.18 and a beta of 1.06. The stock’s 50 day moving average price is $569.50 and its 200 day moving average price is $533.56.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 EPS for the quarter, topping the consensus estimate of $3.43 by $0.13. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the company earned $1.75 earnings per share. The firm’s quarterly revenue was up 21.1% compared to the same quarter last year. On average, sell-side analysts expect that Synopsys, Inc. will post 9.78 EPS for the current year.

Analyst Ratings Changes

SNPS has been the subject of a number of research reports. Robert W. Baird lifted their price target on Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. Piper Sandler assumed coverage on shares of Synopsys in a report on Thursday, April 4th. They issued an “overweight” rating and a $665.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and issued a $660.00 target price on shares of Synopsys in a report on Friday, March 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $615.00 target price on shares of Synopsys in a report on Thursday, March 21st. Finally, StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average 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.