E. Ohman J or Asset Management AB Has $2.80 Million Position in Synopsys, Inc. (NASDAQ:SNPS)

E. Ohman J or Asset Management AB cut its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 5.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,530 shares of the semiconductor company’s stock after selling 400 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Synopsys were worth $2,800,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Fiera Capital Corp lifted its position in shares of Synopsys by 33.8% during the 4th quarter. Fiera Capital Corp now owns 196,391 shares of the semiconductor company’s stock valued at $95,320,000 after acquiring an additional 49,653 shares during the period. Bancreek Capital Management LP bought a new stake in shares of Synopsys during the 4th quarter valued at $3,827,000. Meridiem Investment Management Ltd. lifted its position in shares of Synopsys by 13.1% during the 4th quarter. Meridiem Investment Management Ltd. now owns 557,174 shares of the semiconductor company’s stock valued at $270,322,000 after acquiring an additional 64,322 shares during the period. CIBC Asset Management Inc lifted its position in shares of Synopsys by 7.6% during the 4th quarter. CIBC Asset Management Inc now owns 74,789 shares of the semiconductor company’s stock worth $36,300,000 after buying an additional 5,253 shares during the last quarter. Finally, Davidson Capital Management Inc. lifted its position in shares of Synopsys by 23.7% during the 4th quarter. Davidson Capital Management Inc. now owns 5,874 shares of the semiconductor company’s stock worth $2,851,000 after buying an additional 1,124 shares during the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SNPS shares. Piper Sandler restated an “overweight” rating and set a $615.00 price objective (down from $653.00) on shares of Synopsys in a research report on Thursday, May 29th. Rosenblatt Securities dropped their price objective on Synopsys from $660.00 to $625.00 and set a “buy” rating for the company in a research report on Thursday, May 29th. Mizuho dropped their price objective on Synopsys from $650.00 to $600.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. KeyCorp set a $540.00 target price on Synopsys in a report on Tuesday. Finally, Morgan Stanley lowered their target price on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a report on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Synopsys presently has an average rating of “Moderate Buy” and an average target price of $607.14.

Synopsys Price Performance

NASDAQ SNPS opened at $486.00 on Friday. The business has a 50 day simple moving average of $456.95 and a 200 day simple moving average of $483.94. Synopsys, Inc. has a one year low of $365.74 and a one year high of $624.80. The stock has a market capitalization of $75.41 billion, a P/E ratio of 33.47, a P/E/G ratio of 3.23 and a beta of 1.11.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, May 28th. The semiconductor company reported $3.67 EPS for the quarter, topping the consensus estimate of $3.40 by $0.27. Synopsys had a return on equity of 20.48% and a net margin of 36.12%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter last year, the firm posted $3.00 earnings per share. The firm’s revenue was up 10.3% on a year-over-year basis. Equities analysts expect that Synopsys, Inc. will post 10.64 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 11,366 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $457.93, for a total value of $5,204,832.38. Following the transaction, the chief executive officer now owns 71,589 shares in the company, valued at $32,782,750.77. This trade represents a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.62% of the company’s stock.

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.