Merlin Capital Inc Sells 95 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Merlin Capital Inc trimmed its stake in Synopsys, Inc. (NASDAQ:SNPS) by 8.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,001 shares of the semiconductor company’s stock after selling 95 shares during the period. Merlin Capital Inc’s holdings in Synopsys were worth $515,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Gotham Asset Management LLC raised its stake in shares of Synopsys by 35.9% in the 3rd quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock valued at $3,868,000 after acquiring an additional 2,227 shares in the last quarter. abrdn plc increased its position in Synopsys by 56.9% in the 4th quarter. abrdn plc now owns 84,369 shares of the semiconductor company’s stock worth $43,442,000 after buying an additional 30,581 shares during the period. Comerica Bank bought a new position in Synopsys in the 3rd quarter worth approximately $14,203,000. Simplicity Solutions LLC increased its position in Synopsys by 55.5% in the 4th quarter. Simplicity Solutions LLC now owns 4,310 shares of the semiconductor company’s stock worth $2,219,000 after buying an additional 1,539 shares during the period. Finally, Moody Lynn & Lieberson LLC bought a new position in Synopsys in the 3rd quarter worth approximately $1,606,000. 85.47% of the stock is owned by institutional investors.

Synopsys Price Performance

Synopsys stock traded down $9.15 during mid-day trading on Tuesday, reaching $535.61. 272,636 shares of the company were exchanged, compared to its average volume of 1,218,418. The company has a fifty day simple moving average of $563.56 and a 200-day simple moving average of $536.92. The firm has a market cap of $81.68 billion, a PE ratio of 60.00, a PEG ratio of 3.18 and a beta of 1.06. Synopsys, Inc. has a 12 month low of $365.46 and a 12 month high of $629.38.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 22.88% and a net margin of 22.96%. Synopsys’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter last year, the business posted $1.75 EPS. Sell-side analysts anticipate that Synopsys, Inc. will post 9.78 earnings per share for the current year.

Insider Activity at Synopsys

In other Synopsys news, insider John F. Runkel, Jr. sold 1,219 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $583.95, for a total transaction of $711,835.05. Following the completion of the sale, the insider now directly owns 26,780 shares of the company’s stock, valued at approximately $15,638,181. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Marc N. Casper bought 750 shares of the company’s stock in a transaction on Monday, March 25th. The shares were purchased at an average price of $585.45 per share, for a total transaction of $439,087.50. Following the completion of the transaction, the director now directly owns 1,736 shares in the company, valued at approximately $1,016,341.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider John F. Runkel, Jr. sold 1,219 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $583.95, for a total transaction of $711,835.05. Following the completion of the transaction, the insider now directly owns 26,780 shares in the company, valued at approximately $15,638,181. The disclosure for this sale can be found here. Insiders sold 26,832 shares of company stock valued at $15,464,992 in the last three months. Corporate insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

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

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.