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

Twin Capital Management Inc. reduced its position in Synopsys, Inc. (NASDAQ:SNPS) by 2.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 10,101 shares of the semiconductor company’s stock after selling 202 shares during the period. Synopsys comprises 0.7% of Twin Capital Management Inc.’s holdings, making the stock its 28th largest position. Twin Capital Management Inc.’s holdings in Synopsys were worth $5,201,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of SNPS. Norges Bank acquired a new stake in Synopsys in the 4th quarter valued at about $891,507,000. Alliancebernstein L.P. lifted its stake in Synopsys by 351.8% in the 4th quarter. Alliancebernstein L.P. now owns 1,773,216 shares of the semiconductor company’s stock valued at $566,170,000 after purchasing an additional 1,380,699 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its stake in Synopsys by 113,493.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,319,960 shares of the semiconductor company’s stock valued at $421,450,000 after purchasing an additional 1,318,798 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Synopsys by 90.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 733,196 shares of the semiconductor company’s stock valued at $244,353,000 after purchasing an additional 347,807 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Synopsys by 20.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company’s stock valued at $925,744,000 after purchasing an additional 344,430 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Performance

Shares of NASDAQ SNPS traded down $6.36 during midday trading on Thursday, reaching $521.22. The company’s stock had a trading volume of 610,359 shares, compared to its average volume of 1,234,702. Synopsys, Inc. has a fifty-two week low of $360.36 and a fifty-two week high of $629.38. The business’s 50 day moving average price is $568.97 and its two-hundred day moving average price is $533.52. The company has a market cap of $79.49 billion, a P/E ratio of 58.10, a P/E/G ratio of 3.16 and a beta of 1.06.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.13. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. The firm’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same period last year, the firm posted $1.75 earnings per share. Sell-side analysts forecast that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal year.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $577.51, for a total value of $5,944,887.94. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 61,863 shares of the company’s stock, valued at $35,726,501.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John F. Runkel, Jr. sold 5,319 shares of the business’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the sale, the insider now directly owns 20,000 shares in the company, valued at approximately $11,587,400. The disclosure for this sale can be found here. Insiders have sold 26,832 shares of company stock valued at $15,464,992 over the last three months. 0.66% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SNPS. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Piper Sandler began coverage on shares of Synopsys in a research report on Thursday, April 4th. They set an “overweight” rating and a $665.00 price objective for the company. Robert W. Baird raised their price objective on shares of Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. 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, Rosenblatt Securities restated a “buy” rating and set a $615.00 price objective on shares of Synopsys in a research report on Thursday, March 21st. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $601.00.

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.