Migdal Insurance & Financial Holdings Ltd. Decreases Stock Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Migdal Insurance & Financial Holdings Ltd. trimmed its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 9.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,117 shares of the semiconductor company’s stock after selling 118 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Synopsys were worth $575,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. State Street Corp increased its holdings in shares of Synopsys by 2.6% during the 1st quarter. State Street Corp now owns 6,498,958 shares of the semiconductor company’s stock worth $2,510,213,000 after buying an additional 166,992 shares during the last quarter. FMR LLC increased its holdings in shares of Synopsys by 8.9% during the 3rd quarter. FMR LLC now owns 4,032,059 shares of the semiconductor company’s stock worth $1,850,594,000 after buying an additional 330,206 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Synopsys by 1.6% during the 1st quarter. Geode Capital Management LLC now owns 3,245,659 shares of the semiconductor company’s stock worth $1,250,869,000 after buying an additional 52,624 shares during the last quarter. Norges Bank acquired a new stake in shares of Synopsys during the 4th quarter worth approximately $891,507,000. Finally, T. Rowe Price Investment Management Inc. increased its holdings in shares of Synopsys by 6.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,150,257 shares of the semiconductor company’s stock worth $686,556,000 after buying an additional 133,703 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $577.51, for a total transaction 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 approximately $35,726,501.13. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $577.51, for a total transaction 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 approximately $35,726,501.13. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John F. Runkel, Jr. sold 1,219 shares of Synopsys stock in a transaction 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 sale, the insider now directly owns 26,780 shares of the company’s stock, valued at $15,638,181. The disclosure for this sale can be found here. In the last three months, insiders sold 26,832 shares of company stock valued at $15,464,992. Insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

SNPS has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $660.00 price target on shares of Synopsys in a report on Friday, March 22nd. Rosenblatt Securities restated a “buy” rating and set a $615.00 price target on shares of Synopsys in a report on Thursday, March 21st. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. 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 for the company. Finally, Robert W. Baird lifted their target price on shares of Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $601.00.

Synopsys Stock Down 2.5 %

Shares of SNPS stock opened at $527.58 on Thursday. Synopsys, Inc. has a 52 week low of $360.36 and a 52 week high of $629.38. The stock has a market capitalization of $80.46 billion, a PE ratio of 58.10, a P/E/G ratio of 3.16 and a beta of 1.06. The firm has a 50 day moving average of $568.97 and a two-hundred day moving average of $533.52.

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