LGT Financial Advisors LLC Sells 57 Shares of Synopsys, Inc. (NASDAQ:SNPS)

LGT Financial Advisors LLC lowered its stake in Synopsys, Inc. (NASDAQ:SNPS) by 50.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 57 shares of the semiconductor company’s stock after selling 57 shares during the period. LGT Financial Advisors LLC’s holdings in Synopsys were worth $29,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Andina Capital Management LLC lifted its holdings in Synopsys by 2.8% in the second quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock valued at $395,000 after acquiring an additional 18 shares during the period. Cascade Financial Partners LLC lifted its stake in shares of Synopsys by 4.9% in the 2nd quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock worth $232,000 after purchasing an additional 18 shares during the period. Tocqueville Asset Management L.P. boosted its holdings in shares of Synopsys by 0.9% in the first quarter. Tocqueville Asset Management L.P. now owns 2,134 shares of the semiconductor company’s stock worth $1,220,000 after buying an additional 20 shares during the last quarter. Hazlett Burt & Watson Inc. grew its position in 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 buying an additional 20 shares during the period. Finally, Hilltop National Bank increased its holdings in Synopsys by 6.0% during the second quarter. Hilltop National Bank now owns 370 shares of the semiconductor company’s stock valued at $220,000 after buying an additional 21 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Analysts Set New Price Targets

SNPS has been the subject of several recent research reports. Mizuho began coverage on Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target for the company. Berenberg Bank assumed coverage on shares of Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price for the company. Piper Sandler lowered their price target on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Needham & Company LLC reissued a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research note on Tuesday, October 22nd. Finally, Robert W. Baird lifted their target price on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $643.00.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.66% of the company’s stock.

Synopsys Stock Performance

SNPS opened at $573.59 on Friday. The stock’s 50 day moving average price is $505.80 and its 200-day moving average price is $544.28. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The stock has a market cap of $88.11 billion, a price-to-earnings ratio of 59.51, a P/E/G ratio of 3.20 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data 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 in the prior year, the company posted $2.17 EPS. Synopsys’s quarterly revenue was up 12.7% on a year-over-year basis. As a group, analysts predict that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

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.