Wedmont Private Capital Sells 43 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Wedmont Private Capital lessened its position in Synopsys, Inc. (NASDAQ:SNPS) by 1.3% in the third quarter, HoldingsChannel.com reports. The fund owned 3,289 shares of the semiconductor company’s stock after selling 43 shares during the period. Wedmont Private Capital’s holdings in Synopsys were worth $1,628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Kingsview Wealth Management LLC bought a new stake in shares of Synopsys during the 1st quarter worth about $239,000. Concurrent Investment Advisors LLC acquired a new stake in Synopsys in the 1st quarter worth about $218,000. Vanguard Group Inc. raised its stake in Synopsys by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 13,551,092 shares of the semiconductor company’s stock worth $6,977,593,000 after purchasing an additional 203,601 shares in the last quarter. Jacobs & Co. CA acquired a new stake in Synopsys in the 3rd quarter worth about $10,554,000. Finally, Axxcess Wealth Management LLC raised its stake in Synopsys by 44.9% in the 1st quarter. Axxcess Wealth Management LLC now owns 4,030 shares of the semiconductor company’s stock worth $2,303,000 after purchasing an additional 1,249 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

SNPS has been the subject of several analyst reports. KeyCorp lifted their price objective on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. JPMorgan Chase & Co. boosted their target price on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Piper Sandler restated an “overweight” rating and issued a $687.00 target price on shares of Synopsys in a research report on Thursday, August 22nd. Robert W. Baird boosted their target price on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Finally, Rosenblatt Securities restated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research report on Friday, August 23rd. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $642.22.

Synopsys Price Performance

SNPS stock opened at $533.08 on Friday. The company has a 50 day simple moving average of $510.31 and a 200 day simple moving average of $550.44. The stock has a market cap of $81.89 billion, a price-to-earnings ratio of 55.30, a P/E/G ratio of 3.49 and a beta of 1.08. Synopsys, Inc. has a 1 year low of $448.91 and a 1 year high of $629.38.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.28 by $0.15. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.17 EPS. On average, equities research analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the sale, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Geus Aart De sold 493 shares of Synopsys stock in a transaction on Monday, July 15th. The shares were sold at an average price of $620.60, for a total transaction of $305,955.80. Following the completion of the transaction, the insider now owns 106,983 shares of the company’s stock, valued at $66,393,649.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction dated Friday, August 23rd. The stock was 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 directly owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.