Chicago Partners Investment Group LLC Sells 183 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Chicago Partners Investment Group LLC decreased its stake in Synopsys, Inc. (NASDAQ:SNPS) by 32.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 385 shares of the semiconductor company’s stock after selling 183 shares during the period. Chicago Partners Investment Group LLC’s holdings in Synopsys were worth $208,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Kestra Advisory Services LLC boosted its stake in shares of Synopsys by 12.7% in the 3rd quarter. Kestra Advisory Services LLC now owns 6,146 shares of the semiconductor company’s stock valued at $2,821,000 after purchasing an additional 695 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Synopsys in the 3rd quarter valued at $4,048,000. LPL Financial LLC boosted its stake in shares of Synopsys by 16.0% in the 3rd quarter. LPL Financial LLC now owns 56,608 shares of the semiconductor company’s stock valued at $25,981,000 after purchasing an additional 7,826 shares in the last quarter. Ontario Teachers Pension Plan Board increased its stake in shares of Synopsys by 1.6% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 5,158 shares of the semiconductor company’s stock worth $2,367,000 after acquiring an additional 81 shares in the last quarter. Finally, Motley Fool Asset Management LLC increased its stake in shares of Synopsys by 8.6% in the 3rd quarter. Motley Fool Asset Management LLC now owns 4,359 shares of the semiconductor company’s stock worth $2,001,000 after acquiring an additional 346 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Stock Up 1.2 %

Shares of NASDAQ SNPS opened at $620.31 on Wednesday. The firm’s 50-day moving average price is $559.96 and its 200-day moving average price is $553.04. The company has a market cap of $95.04 billion, a PE ratio of 67.43, a PEG ratio of 3.81 and a beta of 1.08. Synopsys, Inc. has a 52-week low of $416.87 and a 52-week high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The business’s revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.76 EPS. As a group, equities research analysts anticipate that Synopsys, Inc. will post 9.66 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider John F. Runkel, Jr. sold 5,319 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total value of $3,081,669.03. Following the transaction, the insider now owns 20,000 shares of the company’s stock, valued at $11,587,400. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider John F. Runkel, Jr. sold 5,319 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total value of $3,081,669.03. Following the transaction, the insider now owns 20,000 shares of the company’s stock, valued at $11,587,400. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $582.41, for a total transaction of $5,995,328.54. Following the transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $36,440,228.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,288 shares of company stock valued at $13,527,485. 0.66% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Needham & Company LLC restated a “buy” rating and set a $660.00 price objective on shares of Synopsys in a research note on Thursday, May 23rd. Robert W. Baird raised their price objective on shares of Synopsys from $640.00 to $645.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. JPMorgan Chase & Co. raised their price objective on shares of Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Finally, Piper Sandler restated an “overweight” rating and set a $672.00 price objective (up from $665.00) on shares of Synopsys in a research note on Thursday, May 23rd. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $616.18.

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.