Massachusetts Financial Services Co. MA Sells 437,575 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Massachusetts Financial Services Co. MA lessened its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 17.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,012,994 shares of the semiconductor company’s stock after selling 437,575 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Synopsys were worth $1,019,360,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of SNPS. Davidson Capital Management Inc. lifted its holdings in shares of Synopsys by 33,828.6% during the 3rd quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock worth $2,405,000 after acquiring an additional 4,736 shares during the last quarter. Harvest Portfolios Group Inc. raised its holdings in shares of Synopsys by 3.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock valued at $21,330,000 after buying an additional 1,496 shares in the last quarter. Parnassus Investments LLC purchased a new stake in Synopsys in the third quarter worth approximately $633,469,000. Jacobs & Co. CA bought a new position in Synopsys during the third quarter valued at approximately $10,554,000. Finally, Vontobel Holding Ltd. lifted its holdings in shares of Synopsys by 4.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 965,256 shares of the semiconductor company’s stock worth $488,796,000 after acquiring an additional 43,228 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price objective on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Berenberg Bank started coverage on Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective for the company. Robert W. Baird increased their price target on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Piper Sandler decreased their price objective on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, Loop Capital assumed coverage on Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price target for the company. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, Synopsys currently has a consensus rating of “Buy” and an average target price of $649.82.

Synopsys Price Performance

Shares of NASDAQ SNPS opened at $541.56 on Thursday. The firm has a fifty day moving average price of $517.91 and a 200-day moving average price of $545.47. The stock has a market cap of $83.19 billion, a PE ratio of 56.18, a price-to-earnings-growth ratio of 3.26 and a beta of 1.08. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.15. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.17 EPS. On average, research analysts expect that Synopsys, Inc. will post 9.45 EPS for the current year.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the sale, the chief executive officer now owns 62,568 shares in the company, valued at approximately $34,655,789.52. This represents a 14.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.66% of the stock is owned by insiders.

Synopsys 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.