GraniteShares Advisors LLC Sells 489 Shares of Synopsys, Inc. (NASDAQ:SNPS)

GraniteShares Advisors LLC trimmed its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 20.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,850 shares of the semiconductor company’s stock after selling 489 shares during the period. GraniteShares Advisors LLC’s holdings in Synopsys were worth $953,000 as of its most recent SEC filing.

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

Synopsys Trading Down 0.5 %

SNPS traded down $2.82 during trading on Tuesday, hitting $541.09. 897,141 shares of the company traded hands, compared to its average volume of 1,245,520. The company has a market cap of $82.52 billion, a PE ratio of 59.90, a P/E/G ratio of 3.25 and a beta of 1.06. The stock’s 50-day simple moving average is $569.53 and its two-hundred day simple moving average is $532.98. Synopsys, Inc. has a 1 year low of $360.36 and a 1 year high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the company posted $1.75 earnings per share. Synopsys’s quarterly revenue was up 21.1% on a year-over-year basis. Equities analysts expect that Synopsys, Inc. will post 9.78 EPS for the current year.

Insider Buying and Selling

In related news, insider John F. Runkel, Jr. sold 5,319 shares of Synopsys stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the completion of the transaction, the insider now directly owns 20,000 shares of the company’s stock, valued at approximately $11,587,400. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Marc N. Casper acquired 750 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was bought at an average price of $585.45 per share, for a total transaction of $439,087.50. Following the acquisition, the director now directly owns 1,736 shares of the company’s stock, valued at approximately $1,016,341.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John F. Runkel, Jr. sold 5,319 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the completion of the sale, the insider now owns 20,000 shares of the company’s stock, valued at approximately $11,587,400. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,832 shares of company stock valued at $15,464,992. Company insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

SNPS has been the topic of a number of research analyst reports. Needham & Company LLC restated a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research report on Friday, March 22nd. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Robert W. Baird increased their price target on shares of Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Piper Sandler began coverage on shares of Synopsys in a research report on Thursday, April 4th. They issued an “overweight” rating and a $665.00 price target on the stock. Finally, 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. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target 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.