Park Place Capital Corp Sells 274 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Park Place Capital Corp reduced its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 47.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 309 shares of the semiconductor company’s stock after selling 274 shares during the quarter. Park Place Capital Corp’s holdings in Synopsys were worth $177,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Talbot Financial LLC raised its holdings in Synopsys by 2.7% during the 1st quarter. Talbot Financial LLC now owns 21,660 shares of the semiconductor company’s stock worth $12,379,000 after purchasing an additional 572 shares during the last quarter. Kowal Investment Group LLC raised its holdings in Synopsys by 26.0% during the 1st quarter. Kowal Investment Group LLC now owns 581 shares of the semiconductor company’s stock worth $332,000 after purchasing an additional 120 shares during the last quarter. Wolff Wiese Magana LLC raised its holdings in Synopsys by 19.3% during the 1st quarter. Wolff Wiese Magana LLC now owns 976 shares of the semiconductor company’s stock worth $558,000 after purchasing an additional 158 shares during the last quarter. Chapin Davis Inc. increased its stake in shares of Synopsys by 7.9% in the 1st quarter. Chapin Davis Inc. now owns 1,834 shares of the semiconductor company’s stock valued at $1,048,000 after acquiring an additional 134 shares during the last quarter. Finally, LVW Advisors LLC bought a new stake in shares of Synopsys in the 1st quarter valued at about $218,000. 85.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $672.00 price target (up from $665.00) on shares of Synopsys in a research note on Thursday, May 23rd. KeyCorp boosted their price objective on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday. Robert W. Baird boosted their price objective on Synopsys from $640.00 to $645.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. StockNews.com upgraded Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $615.00 price objective on shares of Synopsys in a research report on Thursday, May 23rd. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $624.36.

Synopsys Trading Up 1.1 %

Shares of NASDAQ:SNPS traded up $6.69 on Monday, hitting $601.75. The company had a trading volume of 612,791 shares, compared to its average volume of 1,096,962. Synopsys, Inc. has a 1-year low of $418.51 and a 1-year high of $629.38. The stock has a market cap of $92.20 billion, a price-to-earnings ratio of 65.41, a P/E/G ratio of 3.84 and a beta of 1.07. The stock has a 50 day moving average price of $569.90 and a 200 day moving average price of $556.31.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $3.00 EPS for the quarter, missing the consensus estimate of $3.03 by ($0.03). Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the firm earned $1.76 earnings per share. Synopsys’s revenue for the quarter was up 15.2% on a year-over-year basis. Sell-side analysts anticipate that Synopsys, Inc. will post 9.66 earnings per share for the current fiscal year.

Insider Activity at Synopsys

In related news, insider Geus Aart De sold 8,158 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $602.59, for a total value of $4,915,929.22. Following the transaction, the insider now directly owns 106,983 shares in the company, valued at $64,466,885.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Synopsys news, insider Geus Aart De sold 8,158 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $602.59, for a total transaction of $4,915,929.22. Following the sale, the insider now directly owns 106,983 shares in the company, valued at $64,466,885.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John F. Runkel, Jr. sold 5,319 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the sale, the insider now owns 20,000 shares in the company, valued at $11,587,400. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,658 shares of company stock worth $20,970,824. Corporate insiders own 0.66% of the company’s stock.

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.