New York State Teachers Retirement System Sells 3,138 Shares of Synopsys, Inc. (NASDAQ:SNPS)

New York State Teachers Retirement System reduced its stake in Synopsys, Inc. (NASDAQ:SNPS) by 2.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,156 shares of the semiconductor company’s stock after selling 3,138 shares during the quarter. New York State Teachers Retirement System owned 0.09% of Synopsys worth $68,948,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Andina Capital Management LLC lifted its position in Synopsys by 2.8% in the 2nd quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock valued at $395,000 after acquiring an additional 18 shares in the last quarter. Cascade Financial Partners LLC increased its stake in Synopsys by 4.9% in the 2nd quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock valued at $232,000 after buying an additional 18 shares during the last quarter. Tocqueville Asset Management L.P. increased its stake in Synopsys by 0.9% in the 1st quarter. Tocqueville Asset Management L.P. now owns 2,134 shares of the semiconductor company’s stock valued at $1,220,000 after buying an additional 20 shares during the last quarter. Hilltop National Bank increased its stake in Synopsys by 6.0% in the 2nd quarter. Hilltop National Bank now owns 370 shares of the semiconductor company’s stock valued at $220,000 after buying an additional 21 shares during the last quarter. Finally, Green Alpha Advisors LLC increased its stake in Synopsys by 1.7% in the 3rd quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock valued at $655,000 after buying an additional 22 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Synopsys Stock Performance

Shares of SNPS opened at $536.42 on Thursday. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38. The firm has a market cap of $82.40 billion, a P/E ratio of 55.65, a price-to-earnings-growth ratio of 3.52 and a beta of 1.08. The firm’s 50-day simple moving average is $506.07 and its 200 day simple moving average is $544.36.

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

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total value of $5,701,189.77. Following the completion of the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $34,655,789.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.66% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SNPS has been the topic of several recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Tuesday, October 22nd. Piper Sandler lowered their price target on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Robert W. Baird lifted their price target on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Mizuho started coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target on the stock. Finally, Berenberg Bank started coverage on shares of Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective on the stock. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $643.00.

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.