Illinois Municipal Retirement Fund Sells 13,660 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Illinois Municipal Retirement Fund lessened its stake in Synopsys, Inc. (NASDAQ:SNPS) by 19.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 57,682 shares of the semiconductor company’s stock after selling 13,660 shares during the period. Synopsys comprises about 0.5% of Illinois Municipal Retirement Fund’s portfolio, making the stock its 20th biggest position. Illinois Municipal Retirement Fund’s holdings in Synopsys were worth $34,324,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. ORG Partners LLC boosted its position in Synopsys by 600.0% during the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 36 shares during the last quarter. University of Texas Texas AM Investment Managment Co. bought a new stake in Synopsys in the fourth quarter worth approximately $28,000. Jones Financial Companies Lllp lifted its stake in Synopsys by 233.3% in the fourth quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 42 shares during the period. Activest Wealth Management bought a new position in shares of Synopsys during the 1st quarter worth approximately $35,000. Finally, Fortitude Family Office LLC grew its position in shares of Synopsys by 66.7% during the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock worth $36,000 after buying an additional 24 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Down 2.5 %

NASDAQ SNPS traded down $12.06 on Friday, reaching $463.97. The company had a trading volume of 1,137,870 shares, compared to its average volume of 1,081,870. The company’s fifty day moving average is $550.05 and its 200 day moving average is $562.41. Synopsys, Inc. has a 52-week low of $440.62 and a 52-week high of $629.38. The stock has a market capitalization of $71.09 billion, a P/E ratio of 50.43, a P/E/G ratio of 3.43 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, beating the consensus estimate of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the company posted $2.17 earnings per share. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, research analysts expect that Synopsys, Inc. will post 9.45 EPS for the current year.

Insider Activity

In related news, insider Geus Aart De sold 5,448 shares of Synopsys stock in a transaction on Monday, July 8th. The stock was sold at an average price of $620.95, for a total transaction of $3,382,935.60. Following the sale, the insider now directly owns 106,983 shares in the company, valued at $66,431,093.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Geus Aart De sold 5,448 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $620.95, for a total transaction of $3,382,935.60. Following the completion of the sale, the insider now owns 106,983 shares in the company, valued at $66,431,093.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John F. Runkel, Jr. sold 936 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $566.97, for a total transaction of $530,683.92. Following the completion of the transaction, the insider now owns 20,000 shares in the company, valued at $11,339,400. The disclosure for this sale can be found here. Insiders sold a total of 74,623 shares of company stock valued at $45,147,321 over the last three months. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SNPS. KeyCorp boosted their target price on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. JPMorgan Chase & Co. upped their price objective on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Rosenblatt Securities restated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research note on Friday, August 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price target on shares of Synopsys in a research note on Thursday, August 22nd. Finally, Piper Sandler reissued an “overweight” rating and issued a $687.00 price objective on shares of Synopsys in a research note on Thursday, August 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 a consensus price target of $630.09.

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.