OLD National Bancorp IN Has $365,000 Holdings in Synopsys, Inc. (NASDAQ:SNPS)

OLD National Bancorp IN cut its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 14.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 708 shares of the semiconductor company’s stock after selling 122 shares during the quarter. OLD National Bancorp IN’s holdings in Synopsys were worth $365,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of SNPS. Ameriprise Financial Inc. boosted its stake in Synopsys by 20.3% in the third quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company’s stock valued at $925,744,000 after buying an additional 344,430 shares in the last quarter. FMR LLC boosted its stake in shares of Synopsys by 8.9% during the third quarter. FMR LLC now owns 4,032,059 shares of the semiconductor company’s stock valued at $1,850,594,000 after purchasing an additional 330,206 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Synopsys by 228.8% during the third quarter. Wellington Management Group LLP now owns 386,773 shares of the semiconductor company’s stock valued at $177,517,000 after purchasing an additional 269,130 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Synopsys by 52,466.9% during the fourth quarter. International Assets Investment Management LLC now owns 176,099 shares of the semiconductor company’s stock valued at $90,675,000 after purchasing an additional 175,764 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Synopsys by 140.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 267,665 shares of the semiconductor company’s stock valued at $122,850,000 after purchasing an additional 156,404 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Stock Performance

Shares of SNPS opened at $527.52 on Thursday. The stock’s 50-day simple moving average is $564.47 and its 200 day simple moving average is $535.56. The stock has a market capitalization of $80.45 billion, a price-to-earnings ratio of 58.10, a price-to-earnings-growth ratio of 3.08 and a beta of 1.06. Synopsys, Inc. has a 52-week low of $360.36 and a 52-week high of $629.38.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.13. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The company’s revenue was up 21.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.75 EPS. On average, research analysts forecast that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal year.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 10,294 shares of the firm’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 transaction, 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 legal filing with the SEC, which is accessible through this link. In related news, CEO Sassine Ghazi sold 10,294 shares of the firm’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 transaction, the chief executive officer now directly owns 61,863 shares in the company, valued at approximately $35,726,501.13. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 value of $5,726,600.00. Following the transaction, the director now owns 20,000 shares in the company, valued at $11,453,200. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,832 shares of company stock valued at $15,464,992. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. StockNews.com raised Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Needham & Company LLC reissued a “buy” rating and set a $660.00 price target on shares of Synopsys in a research note on Friday, March 22nd. Rosenblatt Securities restated a “buy” rating and set a $615.00 price objective on shares of Synopsys in a research report on Thursday, March 21st. Robert W. Baird raised their price objective on Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Finally, Piper Sandler initiated coverage on Synopsys in a research report on Thursday, April 4th. They set an “overweight” rating and a $665.00 price objective for the company. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $601.00.

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.