M&T Bank Corp Sells 142 Shares of Synopsys, Inc. (NASDAQ:SNPS)

M&T Bank Corp reduced its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,637 shares of the semiconductor company’s stock after selling 142 shares during the period. M&T Bank Corp’s holdings in Synopsys were worth $3,933,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of SNPS. Goldstream Capital Management Ltd boosted its holdings in shares of Synopsys by 57.8% during the 4th quarter. Goldstream Capital Management Ltd now owns 17,727 shares of the semiconductor company’s stock valued at $9,128,000 after acquiring an additional 6,495 shares in the last quarter. 9258 Wealth Management LLC boosted its stake in shares of Synopsys by 1.1% during the fourth quarter. 9258 Wealth Management LLC now owns 2,908 shares of the semiconductor company’s stock valued at $1,497,000 after purchasing an additional 32 shares in the last quarter. Intelligence Driven Advisers LLC bought a new stake in shares of Synopsys during the fourth quarter worth about $275,000. First Horizon Advisors Inc. increased its position in Synopsys by 4.0% during the 4th quarter. First Horizon Advisors Inc. now owns 22,961 shares of the semiconductor company’s stock valued at $11,823,000 after purchasing an additional 880 shares during the period. Finally, FFT Wealth Management LLC acquired a new position in shares of Synopsys in the 4th quarter worth approximately $1,736,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SNPS shares. Piper Sandler started 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 increased their price target on Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. StockNews.com raised Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Rosenblatt Securities reiterated a “buy” rating and issued a $615.00 target price on shares of Synopsys in a report on Thursday, March 21st. Finally, Needham & Company LLC restated a “buy” rating and set a $660.00 price target on shares of Synopsys in a report on Friday, March 22nd. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $601.00.

Synopsys Stock Up 0.7 %

NASDAQ SNPS opened at $549.61 on Wednesday. Synopsys, Inc. has a 52 week low of $365.46 and a 52 week high of $629.38. The business has a 50 day moving average price of $559.77 and a 200-day moving average price of $539.03. The company has a market cap of $83.82 billion, a price-to-earnings ratio of 60.53, a P/E/G ratio of 3.14 and a beta of 1.07.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.13. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. Synopsys had a net margin of 22.96% and a return on equity of 22.88%. Synopsys’s quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.75 EPS. On average, equities research analysts anticipate that Synopsys, Inc. will post 9.78 earnings per share for the current year.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,294 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was 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 approximately $35,726,501.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Roy Vallee sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $572.66, for a total transaction of $5,726,600.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $11,453,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 26,832 shares of company stock valued at $15,464,992. 0.66% of the stock is owned by corporate insiders.

Synopsys Company 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.