Mutual of America Capital Management LLC Decreases Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Mutual of America Capital Management LLC cut its stake in Synopsys, Inc. (NASDAQ:SNPS) by 1.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,074 shares of the semiconductor company’s stock after selling 354 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Synopsys were worth $12,044,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SNPS. Vanguard Group Inc. raised its holdings in Synopsys by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 13,551,092 shares of the semiconductor company’s stock valued at $6,977,593,000 after acquiring an additional 203,601 shares during the last quarter. Capital World Investors raised its holdings in Synopsys by 0.5% in the 4th quarter. Capital World Investors now owns 6,551,405 shares of the semiconductor company’s stock valued at $3,373,384,000 after buying an additional 32,430 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Synopsys by 6.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,565,534 shares of the semiconductor company’s stock worth $1,321,019,000 after buying an additional 153,053 shares during the period. Norges Bank purchased a new position in Synopsys during the fourth quarter worth about $1,272,143,000. Finally, Van ECK Associates Corp increased its position in shares of Synopsys by 25.0% during the first quarter. Van ECK Associates Corp now owns 1,162,107 shares of the semiconductor company’s stock valued at $664,145,000 after acquiring an additional 232,731 shares during the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Price Performance

Shares of Synopsys stock traded down $9.00 during trading on Tuesday, hitting $606.49. 201,170 shares of the stock were exchanged, compared to its average volume of 1,075,683. The firm’s 50-day moving average price is $579.36 and its 200 day moving average price is $558.60. The stock has a market cap of $92.93 billion, a price-to-earnings ratio of 65.69, a price-to-earnings-growth ratio of 4.01 and a beta of 1.07. Synopsys, Inc. has a 12-month low of $418.51 and a 12-month high of $629.38.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.03 by ($0.03). Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the company posted $1.76 earnings per share. The company’s revenue was up 15.2% compared to the same quarter last year. As a group, research analysts forecast that Synopsys, Inc. will post 9.66 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Robert W. Baird raised their price target on Synopsys from $645.00 to $661.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 2nd. StockNews.com upgraded Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Piper Sandler restated an “overweight” rating and set a $672.00 target price (up from $665.00) on shares of Synopsys in a report on Thursday, May 23rd. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $615.00 price target on shares of Synopsys in a research note on Thursday, May 23rd. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $625.82.

Insider Buying and Selling at Synopsys

In related news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction on Friday, May 24th. The shares were sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the sale, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $36,440,228.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider John F. Runkel, Jr. sold 936 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $566.97, for a total value of $530,683.92. Following the completion of the sale, the insider now directly owns 20,000 shares of the company’s stock, valued at $11,339,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction on Friday, May 24th. The shares were sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the completion of the transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at $36,440,228.88. The disclosure for this sale can be found here. Insiders have sold 39,021 shares of company stock worth $23,140,653 over the last three months. Insiders own 0.66% of the company’s stock.

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.