Jackson Square Capital LLC Sells 5,038 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Jackson Square Capital LLC reduced its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 44.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,334 shares of the semiconductor company’s stock after selling 5,038 shares during the period. Jackson Square Capital LLC’s holdings in Synopsys were worth $3,207,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SNPS. Norden Group LLC raised its stake in Synopsys by 24.3% during the 1st quarter. Norden Group LLC now owns 567 shares of the semiconductor company’s stock valued at $324,000 after purchasing an additional 111 shares during the last quarter. Jennison Associates LLC raised its position in shares of Synopsys by 33.2% during the first quarter. Jennison Associates LLC now owns 9,551 shares of the semiconductor company’s stock valued at $5,458,000 after buying an additional 2,379 shares during the last quarter. Advisory Alpha LLC bought a new stake in shares of Synopsys in the first quarter valued at about $207,000. Gallacher Capital Management LLC acquired a new stake in Synopsys during the first quarter worth about $201,000. Finally, Envestnet Portfolio Solutions Inc. increased its stake in Synopsys by 43.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 11,587 shares of the semiconductor company’s stock valued at $6,622,000 after acquiring an additional 3,505 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Stock Performance

Shares of NASDAQ:SNPS opened at $553.15 on Thursday. The business has a fifty day moving average of $505.80 and a 200-day moving average of $544.28. The firm has a market cap of $84.97 billion, a PE ratio of 57.38, a price-to-earnings-growth ratio of 3.20 and a beta of 1.08. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share 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 firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter last year, the company posted $2.17 EPS. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on SNPS shares. Berenberg Bank assumed coverage on Synopsys in a research report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and set a $640.00 target price on shares of Synopsys in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. upped their target price 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 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, Mizuho initiated coverage on Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price objective on the stock. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Synopsys presently has an average rating of “Buy” and an average target price of $643.00.

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was 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 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate 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.