Trust Investment Advisors Sells 44 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Trust Investment Advisors lessened its position in Synopsys, Inc. (NASDAQ:SNPS) by 9.3% in the 4th quarter, Holdings Channel reports. The firm owned 431 shares of the semiconductor company’s stock after selling 44 shares during the period. Trust Investment Advisors’ holdings in Synopsys were worth $222,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SNPS. State Street Corp increased its position in shares of Synopsys by 2.6% in the 1st quarter. State Street Corp now owns 6,498,958 shares of the semiconductor company’s stock valued at $2,510,213,000 after buying an additional 166,992 shares in the last quarter. FMR LLC increased its holdings in shares of Synopsys by 8.9% in the third quarter. FMR LLC now owns 4,032,059 shares of the semiconductor company’s stock worth $1,850,594,000 after acquiring an additional 330,206 shares in the last quarter. Geode Capital Management LLC lifted its stake in Synopsys by 1.6% in the first quarter. Geode Capital Management LLC now owns 3,245,659 shares of the semiconductor company’s stock valued at $1,250,869,000 after acquiring an additional 52,624 shares during the last quarter. Norges Bank bought a new position in shares of Synopsys in the 4th quarter valued at about $891,507,000. Finally, T. Rowe Price Investment Management Inc. increased its stake 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 purchasing an additional 133,703 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Trading Down 1.5 %

Synopsys stock traded down $7.87 during midday trading on Thursday, reaching $519.71. The company’s stock had a trading volume of 1,177,449 shares, compared to its average volume of 1,242,955. The business has a 50-day moving average price of $568.97 and a 200-day moving average price of $533.52. The stock has a market cap of $79.26 billion, a PE ratio of 58.10, a price-to-earnings-growth ratio of 3.16 and a beta of 1.06. Synopsys, Inc. has a 52 week low of $360.36 and a 52 week high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data 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 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 the consensus estimate of $1.65 billion. During the same quarter last year, the firm posted $1.75 EPS. The company’s quarterly revenue was up 21.1% on a year-over-year basis. As a group, research analysts predict that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

Insider Activity

In other news, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $577.51, for a total value of $5,944,887.94. Following the transaction, the chief executive officer now owns 61,863 shares in the company, valued at $35,726,501.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sassine Ghazi sold 10,294 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 61,863 shares of the company’s stock, valued at $35,726,501.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Roy Vallee sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the completion of the sale, 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 over the last three months. 0.66% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SNPS has been the subject of a number of research analyst 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 report on Thursday, February 22nd. Piper Sandler assumed coverage on shares of Synopsys in a research report on Thursday, April 4th. They issued an “overweight” rating and a $665.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $660.00 target price on shares of Synopsys in a report on Friday, March 22nd. StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Finally, Rosenblatt Securities restated a “buy” rating and set a $615.00 price objective on shares of Synopsys in a report on Thursday, March 21st. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average 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.