Meyer Handelman Co. Sells 100 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Meyer Handelman Co. trimmed its position in Synopsys, Inc. (NASDAQ:SNPS) by 1.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,280 shares of the semiconductor company’s stock after selling 100 shares during the quarter. Meyer Handelman Co.’s holdings in Synopsys were worth $3,687,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. ORG Partners LLC raised its position in Synopsys by 600.0% in the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after buying an additional 36 shares during the last quarter. Pacifica Partners Inc. bought a new stake in Synopsys in the 3rd quarter worth approximately $25,000. University of Texas Texas AM Investment Managment Co. bought a new stake in Synopsys in the fourth quarter worth $28,000. Chris Bulman Inc purchased a new stake in shares of Synopsys during the 2nd quarter valued at about $30,000. Finally, Fortitude Family Office LLC lifted its stake in shares of Synopsys by 66.7% in the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 24 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Geus Aart De sold 493 shares of Synopsys stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $620.60, for a total transaction of $305,955.80. Following the sale, the insider now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Synopsys Stock Performance

SNPS opened at $539.92 on Friday. The company has a market cap of $82.72 billion, a PE ratio of 58.69, a price-to-earnings-growth ratio of 3.49 and a beta of 1.08. The firm has a 50 day moving average price of $510.84 and a 200 day moving average price of $550.02. Synopsys, Inc. has a 1 year low of $448.91 and a 1 year high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data 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 return on equity of 22.09% and a net margin of 24.06%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the prior year, the firm posted $2.17 earnings per share. Synopsys’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, sell-side analysts predict that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Analyst Ratings Changes

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

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.