Amalgamated Bank Sells 1,850 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Amalgamated Bank lessened its stake in Synopsys, Inc. (NASDAQ:SNPS) by 4.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 39,456 shares of the semiconductor company’s stock after selling 1,850 shares during the period. Amalgamated Bank’s holdings in Synopsys were worth $20,316,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in SNPS. Mission Wealth Management LP grew its holdings in shares of Synopsys by 2.5% during the 4th quarter. Mission Wealth Management LP now owns 780 shares of the semiconductor company’s stock worth $401,000 after purchasing an additional 19 shares in the last quarter. Fred Alger Management LLC raised its stake in shares of Synopsys by 1.8% in the 3rd quarter. Fred Alger Management LLC now owns 1,150 shares of the semiconductor company’s stock valued at $528,000 after buying an additional 20 shares in the last quarter. Obermeyer Wood Investment Counsel Lllp lifted its holdings in shares of Synopsys by 2.6% during the 3rd quarter. Obermeyer Wood Investment Counsel Lllp now owns 859 shares of the semiconductor company’s stock worth $394,000 after acquiring an additional 22 shares during the period. Mather Group LLC. boosted its position in shares of Synopsys by 0.7% during the 4th quarter. Mather Group LLC. now owns 3,155 shares of the semiconductor company’s stock valued at $1,625,000 after acquiring an additional 22 shares in the last quarter. Finally, Synovus Financial Corp increased its stake in Synopsys by 0.7% in the third 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. 85.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, 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 value of $711,835.05. Following the completion of the sale, the insider now directly owns 26,780 shares of the company’s stock, valued at approximately $15,638,181. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider John F. Runkel, Jr. sold 1,219 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $15,638,181. The sale 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 Synopsys stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the sale, the chief executive officer now owns 61,863 shares of the company’s stock, valued at approximately $35,726,501.13. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,832 shares of company stock valued at $15,464,992. 0.66% of the stock is currently owned by corporate insiders.

Synopsys Trading Up 2.6 %

NASDAQ SNPS traded up $13.56 on Friday, hitting $536.94. 855,167 shares of the company were exchanged, compared to its average volume of 1,212,881. Synopsys, Inc. has a 1-year low of $365.46 and a 1-year high of $629.38. The firm has a 50 day moving average of $561.64 and a two-hundred day moving average of $537.01. The company has a market cap of $81.88 billion, a P/E ratio of 59.13, a P/E/G ratio of 3.05 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the business earned $1.75 earnings per share. Synopsys’s quarterly revenue was up 21.1% on a year-over-year basis. Research analysts anticipate that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

Analyst Ratings Changes

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