Metis Global Partners LLC Has $3.79 Million Stake in Synopsys, Inc. (NASDAQ:SNPS)

Metis Global Partners LLC cut its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 6.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,361 shares of the semiconductor company’s stock after selling 497 shares during the quarter. Metis Global Partners LLC’s holdings in Synopsys were worth $3,790,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. National Bank of Canada FI increased its position in shares of Synopsys by 159.2% in the fourth quarter. National Bank of Canada FI now owns 143,003 shares of the semiconductor company’s stock worth $71,354,000 after purchasing an additional 87,840 shares during the period. Provence Wealth Management Group bought a new position in Synopsys in the 4th quarter valued at about $266,000. Sapient Capital LLC acquired a new position in shares of Synopsys in the 4th quarter valued at approximately $286,000. Axxcess Wealth Management LLC lifted its holdings in shares of Synopsys by 6.3% during the 4th quarter. Axxcess Wealth Management LLC now owns 2,781 shares of the semiconductor company’s stock worth $1,432,000 after acquiring an additional 164 shares during the period. Finally, Goldstream Capital Management Ltd boosted its position in shares of Synopsys by 57.8% during the 4th quarter. Goldstream Capital Management Ltd now owns 17,727 shares of the semiconductor company’s stock worth $9,128,000 after acquiring an additional 6,495 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Insiders Place Their Bets

In related news, insider John F. Runkel, Jr. sold 5,319 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 20,000 shares in the company, valued at approximately $11,587,400. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider John F. Runkel, Jr. sold 5,319 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total value of $3,081,669.03. Following the sale, the insider now owns 20,000 shares in the company, valued at approximately $11,587,400. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Roy Vallee sold 10,000 shares of Synopsys stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $572.66, for a total value of $5,726,600.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $11,453,200. The disclosure for this sale can be found here. Insiders sold 26,832 shares of company stock worth $15,464,992 in the last 90 days. Corporate insiders own 0.66% of the company’s stock.

Synopsys Trading Up 1.6 %

SNPS traded up $8.60 on Monday, reaching $545.54. The stock had a trading volume of 673,158 shares, compared to its average volume of 1,206,683. The company has a market cap of $83.19 billion, a P/E ratio of 59.13, a price-to-earnings-growth ratio of 3.14 and a beta of 1.07. Synopsys, Inc. has a 12-month low of $365.46 and a 12-month high of $629.38. The business’s 50-day moving average price is $560.86 and its two-hundred day moving average price is $538.00.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.13. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the firm posted $1.75 earnings per share. Synopsys’s quarterly revenue was up 21.1% on a year-over-year basis. As a group, analysts predict that Synopsys, Inc. will post 9.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SNPS has been the topic of several recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $660.00 target price on shares of Synopsys in a research report on Friday, March 22nd. Piper Sandler started coverage on Synopsys in a report on Thursday, April 4th. They issued an “overweight” rating and a $665.00 price objective for the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $615.00 target price on shares of Synopsys in a report on Thursday, March 21st. Robert W. Baird raised their price objective on Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Finally, StockNews.com upgraded 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, Based on data from MarketBeat, Synopsys presently has an average rating of “Buy” and a consensus price target of $601.00.

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.