Daiwa Securities Group Inc. Sells 3,642 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Daiwa Securities Group Inc. decreased its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 7.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,652 shares of the semiconductor company’s stock after selling 3,642 shares during the period. Daiwa Securities Group Inc.’s holdings in Synopsys were worth $25,051,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Rakuten Securities Inc. bought a new position in Synopsys during the fourth quarter valued at $651,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Synopsys by 5.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 281,206 shares of the semiconductor company’s stock valued at $144,796,000 after purchasing an additional 13,541 shares during the last quarter. Signet Financial Management LLC raised its position in Synopsys by 0.6% in the 4th quarter. Signet Financial Management LLC now owns 4,392 shares of the semiconductor company’s stock worth $2,261,000 after purchasing an additional 25 shares during the period. SVB Wealth LLC lifted its stake in Synopsys by 11.6% in the fourth quarter. SVB Wealth LLC now owns 1,388 shares of the semiconductor company’s stock worth $715,000 after purchasing an additional 144 shares during the last quarter. Finally, Sentry Investment Management LLC boosted its position in shares of Synopsys by 83.8% during the fourth quarter. Sentry Investment Management LLC now owns 1,625 shares of the semiconductor company’s stock valued at $837,000 after buying an additional 741 shares during the period. Institutional investors own 85.47% of the company’s stock.

Synopsys Stock Performance

Synopsys stock traded down $13.51 during mid-day trading on Wednesday, reaching $527.58. 1,120,591 shares of the company were exchanged, compared to its average volume of 1,243,836. The firm has a market cap of $80.46 billion, a P/E ratio of 59.59, a PEG ratio of 3.18 and a beta of 1.06. The business has a fifty day moving average of $569.50 and a 200 day moving average of $533.56. Synopsys, Inc. has a 12-month low of $360.36 and a 12-month high of $629.38.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results 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 return on equity of 22.88% and a net margin of 22.96%. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the company posted $1.75 EPS. The business’s revenue for the quarter was up 21.1% compared to the same quarter last year. Sell-side analysts predict that Synopsys, Inc. will post 9.78 EPS for the current year.

Insider Activity

In related news, CEO Sassine Ghazi sold 10,294 shares of the stock in a transaction that occurred 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 owns 61,863 shares of the company’s stock, valued at $35,726,501.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 61,863 shares of the company’s stock, valued at approximately $35,726,501.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Roy Vallee sold 10,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $11,453,200. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,832 shares of company stock worth $15,464,992. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

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