Twin Capital Management Inc. Sells 202 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Twin Capital Management Inc. lessened its position in Synopsys, Inc. (NASDAQ:SNPS) by 2.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 10,101 shares of the semiconductor company’s stock after selling 202 shares during the period. Synopsys accounts for 0.7% of Twin Capital Management Inc.’s holdings, making the stock its 28th largest holding. Twin Capital Management Inc.’s holdings in Synopsys were worth $5,201,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Dock Street Asset Management Inc. increased its position in shares of Synopsys by 0.4% during the fourth quarter. Dock Street Asset Management Inc. now owns 22,154 shares of the semiconductor company’s stock valued at $11,407,000 after buying an additional 91 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Synopsys by 4.9% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,656 shares of the semiconductor company’s stock valued at $1,881,000 after buying an additional 172 shares during the period. Rakuten Securities Inc. purchased a new position in shares of Synopsys during the fourth quarter valued at about $651,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Synopsys by 5.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 281,206 shares of the semiconductor company’s stock valued at $144,796,000 after buying an additional 13,541 shares during the period. Finally, Signet Financial Management LLC increased its position in shares of Synopsys by 0.6% during the fourth quarter. Signet Financial Management LLC now owns 4,392 shares of the semiconductor company’s stock valued at $2,261,000 after buying an additional 25 shares during the period. Institutional investors own 85.47% of the company’s stock.

Insider Activity at Synopsys

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 transaction, the chief executive officer now owns 61,863 shares in the company, valued at $35,726,501.13. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the company’s 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 directly owns 61,863 shares of the company’s stock, valued at $35,726,501.13. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John F. Runkel, Jr. sold 1,219 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $583.95, for a total transaction of $711,835.05. Following the sale, the insider now directly owns 26,780 shares of the company’s stock, valued at $15,638,181. The disclosure for this sale can be found here. Insiders have sold a total of 26,832 shares of company stock worth $15,464,992 over the last quarter. Company insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SNPS shares. Piper Sandler started coverage on shares of Synopsys in a research note on Thursday, April 4th. They set an “overweight” rating and a $665.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research note on Friday, March 22nd. Robert W. Baird boosted their price objective on shares of Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. StockNews.com raised shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $615.00 price objective on shares of Synopsys in a research note on Thursday, March 21st. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $601.00.

Synopsys Stock Down 1.2 %

Shares of NASDAQ SNPS traded down $6.36 during midday trading on Thursday, hitting $521.22. The stock had a trading volume of 610,359 shares, compared to its average volume of 1,234,702. The business’s 50 day moving average is $568.97 and its 200-day moving average is $533.52. The company has a market cap of $79.49 billion, a P/E ratio of 58.10, a PEG 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 issued its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.13. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.65 billion. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The firm’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.75 earnings per share. As a group, analysts expect that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

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.