M&T Bank Corp Decreases Stake in Synopsys, Inc. (NASDAQ:SNPS)

M&T Bank Corp trimmed its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm 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 hedge funds have also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in shares of Synopsys in the 3rd quarter valued at about $26,000. Venturi Wealth Management LLC purchased a new position in Synopsys in the third quarter valued at approximately $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Synopsys during the third quarter worth approximately $29,000. Catalyst Capital Advisors LLC lifted its position in shares of Synopsys by 34.5% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 113 shares of the semiconductor company’s stock worth $52,000 after buying an additional 29 shares during the last quarter. Finally, Keener Financial Planning LLC acquired a new position in shares of Synopsys in the 4th quarter valued at $56,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Performance

SNPS stock opened at $549.61 on Wednesday. Synopsys, Inc. has a one year low of $365.46 and a one year high of $629.38. The company has a fifty day moving average of $559.77 and a 200-day moving average of $539.03. The stock has a market capitalization of $83.82 billion, a PE ratio of 60.53, a price-to-earnings-growth ratio of 3.14 and a beta of 1.07.

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

Wall Street Analysts Forecast Growth

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

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 10,294 shares of the company’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 value of $5,944,887.94. Following the sale, the chief executive officer now owns 61,863 shares of the company’s stock, valued at approximately $35,726,501.13. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Roy Vallee sold 10,000 shares of Synopsys 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 completion of the sale, the director now directly owns 20,000 shares in the company, valued at $11,453,200. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sassine Ghazi sold 10,294 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were 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 disclosure for this sale can be found here. Insiders sold a total of 26,832 shares of company stock valued at $15,464,992 in the last ninety days. Corporate insiders own 0.66% of the company’s stock.

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.