Johnson Financial Group Inc. Lowers Position in Synopsys, Inc. (NASDAQ:SNPS)

Johnson Financial Group Inc. cut its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 21.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,427 shares of the semiconductor company’s stock after selling 397 shares during the quarter. Johnson Financial Group Inc.’s holdings in Synopsys were worth $735,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Synopsys during the 3rd quarter worth $29,000. Catalyst Capital Advisors LLC boosted its holdings in Synopsys by 34.5% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 113 shares of the semiconductor company’s stock valued at $52,000 after acquiring an additional 29 shares during the period. Keener Financial Planning LLC purchased a new position in Synopsys during the 4th quarter valued at about $56,000. Altshuler Shaham Ltd boosted its holdings in Synopsys by 157.1% during the 4th quarter. Altshuler Shaham Ltd now owns 126 shares of the semiconductor company’s stock valued at $65,000 after acquiring an additional 77 shares during the period. Finally, Raleigh Capital Management Inc. boosted its holdings in Synopsys by 52.9% during the 3rd quarter. Raleigh Capital Management Inc. now owns 156 shares of the semiconductor company’s stock valued at $71,000 after acquiring an additional 54 shares during the period. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Synopsys

In related news, Director Roy Vallee sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the transaction, the director now owns 20,000 shares in the company, valued at approximately $11,453,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Roy Vallee sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the transaction, the director now owns 20,000 shares in the company, valued at approximately $11,453,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Marc N. Casper purchased 750 shares of the company’s stock in a transaction that occurred 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 purchase, the director now directly owns 1,736 shares in the company, valued at $1,016,341.20. The disclosure for this purchase can be found here. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a report on Thursday. Rosenblatt Securities restated a “buy” rating and set a $615.00 target price on shares of Synopsys in a report on Thursday. Needham & Company LLC restated a “buy” rating and set a $660.00 target price on shares of Synopsys in a report on Thursday. Robert W. Baird increased their price target on Synopsys from $640.00 to $645.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $672.00 price target (up previously from $665.00) on shares of Synopsys in a research report on Thursday. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Synopsys has an average rating of “Buy” and an average price target of $616.18.

Synopsys Price Performance

Shares of NASDAQ SNPS traded up $1.10 during midday trading on Friday, hitting $587.40. 725,828 shares of the company’s stock were exchanged, compared to its average volume of 755,899. Synopsys, Inc. has a twelve month low of $409.83 and a twelve month high of $629.38. The company has a market cap of $89.58 billion, a PE ratio of 63.85, a P/E/G ratio of 3.42 and a beta of 1.07. The firm’s fifty day simple moving average is $558.67 and its 200-day simple moving average is $547.28.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share 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 last year, the business posted $1.76 EPS. Synopsys’s revenue was up 15.2% on a year-over-year basis. Equities analysts anticipate that Synopsys, Inc. will post 9.78 EPS for the current fiscal year.

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.