Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by AMI Asset Management Corp

AMI Asset Management Corp trimmed its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 3.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,606 shares of the semiconductor company’s stock after selling 2,254 shares during the period. Synopsys comprises 1.8% of AMI Asset Management Corp’s investment portfolio, making the stock its 29th largest position. AMI Asset Management Corp’s holdings in Synopsys were worth $32,716,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SNPS. Andina Capital Management LLC raised its stake in shares of Synopsys by 2.8% during the second quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock valued at $395,000 after purchasing an additional 18 shares during the period. Cascade Financial Partners LLC raised its stake in shares of Synopsys by 4.9% during the second quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock valued at $232,000 after purchasing an additional 18 shares during the period. Tocqueville Asset Management L.P. raised its stake in shares of Synopsys by 0.9% during the first quarter. Tocqueville Asset Management L.P. now owns 2,134 shares of the semiconductor company’s stock valued at $1,220,000 after purchasing an additional 20 shares during the period. Hilltop National Bank raised its stake in shares of Synopsys by 6.0% during the second quarter. Hilltop National Bank now owns 370 shares of the semiconductor company’s stock valued at $220,000 after purchasing an additional 21 shares during the period. Finally, Green Alpha Advisors LLC raised its stake in shares of Synopsys by 1.7% during the third quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock valued at $655,000 after purchasing an additional 22 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SNPS. Mizuho initiated coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective on the stock. Rosenblatt Securities restated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research note on Friday, August 23rd. Berenberg Bank initiated coverage on shares of Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target for the company. Robert W. Baird lifted their price target on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Tuesday, October 22nd. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $643.00.

Insider Activity

In other news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Synopsys Price Performance

Synopsys stock opened at $529.21 on Wednesday. The company has a market cap of $81.29 billion, a PE ratio of 54.90, a P/E/G ratio of 3.52 and a beta of 1.08. The company has a fifty day moving average price of $506.64 and a two-hundred day moving average price of $544.42. Synopsys, Inc. has a 12 month low of $455.00 and a 12 month high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the company posted $2.17 earnings per share. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. Equities research analysts anticipate that Synopsys, Inc. will post 9.45 earnings per share for the current year.

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.