Sycomore Asset Management Sells 3,611 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Sycomore Asset Management reduced its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 20.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 14,137 shares of the semiconductor company’s stock after selling 3,611 shares during the quarter. Sycomore Asset Management’s holdings in Synopsys were worth $7,286,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. ORG Partners LLC increased its stake in shares of Synopsys by 600.0% in the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 36 shares in the last quarter. Pacifica Partners Inc. bought a new stake in shares of Synopsys in the 3rd quarter worth approximately $25,000. Tsfg LLC lifted its holdings in shares of Synopsys by 75.0% in the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 24 shares during the last quarter. Chris Bulman Inc bought a new stake in Synopsys during the 2nd quarter valued at $30,000. Finally, Hazlett Burt & Watson Inc. raised its holdings in Synopsys by 40.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 20 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on SNPS. Needham & Company LLC reissued a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research report on Tuesday, October 22nd. Piper Sandler cut their price objective on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Robert W. Baird raised their price target on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Mizuho initiated coverage on Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price for the company. Finally, Loop Capital began coverage on shares of Synopsys in a report on Monday. They set a “buy” rating and a $675.00 price objective on the stock. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Synopsys currently has a consensus rating of “Buy” and a consensus target price of $649.82.

Synopsys Trading Down 0.8 %

SNPS stock traded down $4.54 during mid-day trading on Thursday, reaching $553.42. 249,748 shares of the stock traded hands, compared to its average volume of 1,057,863. The stock’s fifty day moving average is $511.56 and its 200-day moving average is $545.39. The company has a market cap of $85.01 billion, a P/E ratio of 57.57, a P/E/G ratio of 3.37 and a beta of 1.08. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38.

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

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of the company’s 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 sale, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company 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.