Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC lessened its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 8.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,393 shares of the semiconductor company’s stock after selling 129 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Synopsys were worth $705,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hazlett Burt & Watson Inc. raised its stake in shares of Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares during the period. Impax Asset Management Group plc increased its stake in Synopsys by 120.2% during the 3rd quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock worth $248,497,000 after buying an additional 267,836 shares during the period. Quintet Private Bank Europe S.A. increased its stake in Synopsys by 98,820.0% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 49,460 shares of the semiconductor company’s stock worth $25,046,000 after buying an additional 49,410 shares during the period. PDS Planning Inc lifted its holdings in Synopsys by 2.4% in the 3rd quarter. PDS Planning Inc now owns 1,040 shares of the semiconductor company’s stock worth $527,000 after buying an additional 24 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its position in Synopsys by 0.6% in the 3rd quarter. QRG Capital Management Inc. now owns 43,739 shares of the semiconductor company’s stock valued at $22,149,000 after buying an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the firm’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 value of $5,701,189.77. Following the sale, the chief executive officer now owns 62,568 shares in the company, valued at approximately $34,655,789.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.66% of the stock is currently owned by company insiders.

Synopsys Trading Down 0.5 %

NASDAQ:SNPS opened at $521.98 on Wednesday. The stock has a 50 day moving average of $504.94 and a 200-day moving average of $544.22. The firm has a market capitalization of $80.18 billion, a PE ratio of 54.15, a price-to-earnings-growth ratio of 3.16 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 issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.15. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.17 EPS. As a group, analysts predict that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SNPS shares. Needham & Company LLC restated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a report on Tuesday, October 22nd. Piper Sandler dropped their price target on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. JPMorgan Chase & Co. increased their price objective on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Robert W. Baird raised their price objective 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, 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 target price on the stock. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Synopsys currently has a consensus rating of “Buy” and an average target price of $643.00.

About Synopsys

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.