Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS – Get Rating) by 3.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 80,777 shares of the semiconductor company’s stock after selling 3,227 shares during the period. State of Alaska Department of Revenue’s holdings in Synopsys were worth $25,791,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Altshuler Shaham Ltd bought a new position in Synopsys in the 3rd quarter worth about $35,000. MV Capital Management Inc. boosted its holdings in shares of Synopsys by 47.2% in the third quarter. MV Capital Management Inc. now owns 131 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 42 shares in the last quarter. Clearstead Advisors LLC bought a new position in shares of Synopsys in the second quarter valued at approximately $42,000. Ronald Blue Trust Inc. bought a new position in shares of Synopsys in the second quarter valued at approximately $59,000. Finally, CI Investments Inc. boosted its holdings in shares of Synopsys by 957.9% in the third quarter. CI Investments Inc. now owns 201 shares of the semiconductor company’s stock valued at $61,000 after acquiring an additional 182 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Rosenblatt Securities restated a “buy” rating and set a $420.00 target price on shares of Synopsys in a report on Tuesday, February 14th. KeyCorp raised their target price on shares of Synopsys from $455.00 to $467.00 and gave the stock an “overweight” rating in a report on Thursday, December 1st. Needham & Company LLC raised their target price on shares of Synopsys from $420.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, February 16th. Atlantic Securities assumed coverage on shares of Synopsys in a research report on Tuesday, January 17th. They issued an “overweight” rating for the company. Finally, Wells Fargo & Company upped their price target on shares of Synopsys from $400.00 to $410.00 and gave the company an “overweight” rating in a research report on Thursday, February 16th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $424.18.

Synopsys Trading Down 0.4 %

SNPS stock traded down $1.47 during midday trading on Friday, reaching $372.53. The company had a trading volume of 1,640,841 shares, compared to its average volume of 787,523. Synopsys, Inc. has a 1 year low of $255.02 and a 1 year high of $391.17. The company has a market capitalization of $56.74 billion, a P/E ratio of 61.47, a PEG ratio of 3.32 and a beta of 1.18. The company has a 50 day moving average of $356.08 and a two-hundred day moving average of $329.77.

Synopsys (NASDAQ:SNPS – Get Rating) last released its earnings results on Wednesday, February 15th. The semiconductor company reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.12. Synopsys had a net margin of 18.22% and a return on equity of 16.88%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the firm earned $1.78 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Synopsys, Inc. will post 7.2 earnings per share for the current year.

Insiders Place Their Bets

In other Synopsys news, CAO Sudhindra Kankanwadi sold 4,000 shares of the stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $361.08, for a total value of $1,444,320.00. Following the completion of the sale, the chief accounting officer now owns 16,723 shares in the company, valued at approximately $6,038,340.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider John F. Runkel, Jr. sold 3,464 shares of the firm’s stock in a transaction on Friday, February 17th. The shares were sold at an average price of $353.91, for a total transaction of $1,225,944.24. Following the transaction, the insider now owns 25,112 shares in the company, valued at approximately $8,887,387.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sudhindra Kankanwadi sold 4,000 shares of the firm’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $361.08, for a total transaction of $1,444,320.00. Following the transaction, the chief accounting officer now owns 16,723 shares in the company, valued at approximately $6,038,340.84. The disclosure for this sale can be found here. Insiders sold a total of 65,736 shares of company stock worth $21,590,891 in the last quarter. 0.69% of the stock is currently owned by corporate insiders.

About Synopsys

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Synopsys, Inc engages in the provision of software products and consulting services in the electronic design automation industry. It operates through the following segments: Semiconductor and System Design, and Software Integrity. The Semiconductor and System Design segment includes the EDA, IP and System Integration.