Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC lowered its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 8.5% in the third quarter, Holdings Channel.com reports. The fund owned 541 shares of the semiconductor company’s stock after selling 50 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Synopsys were worth $274,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. ORG Partners LLC increased its holdings in shares of Synopsys by 600.0% in the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 36 shares during the last quarter. Chris Bulman Inc acquired a new stake in Synopsys during the second quarter worth $30,000. Pacifica Partners Inc. acquired a new stake in Synopsys during the third quarter worth $25,000. Fortitude Family Office LLC increased its stake in Synopsys by 66.7% during the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 24 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in Synopsys during the second quarter worth $40,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Trading Down 5.1 %

NASDAQ:SNPS opened at $517.56 on Wednesday. The firm has a market cap of $79.30 billion, a PE ratio of 56.26, a price-to-earnings-growth ratio of 3.64 and a beta of 1.08. The stock has a fifty day moving average price of $512.35 and a 200 day moving average price of $549.05. Synopsys, Inc. has a 12-month low of $448.91 and a 12-month high of $629.38.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.28 by $0.15. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. Synopsys’s revenue was up 12.7% compared to the same quarter last year. During the same period last year, the business posted $2.17 earnings per share. Equities analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current year.

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 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 sale, the chief executive officer now directly owns 62,568 shares in the company, valued at $34,655,789.52. 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 at this hyperlink. 0.66% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SNPS shares. Needham & Company LLC reissued a “buy” rating and set a $640.00 target price on shares of Synopsys in a research note on Thursday, August 22nd. Rosenblatt Securities reissued a “buy” rating and set a $635.00 target price on shares of Synopsys in a research note on Friday, August 23rd. Robert W. Baird raised their price target on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Piper Sandler restated an “overweight” rating and set a $687.00 price target on shares of Synopsys in a research report on Thursday, August 22nd. Finally, Berenberg Bank assumed coverage on Synopsys in a research report on Tuesday. They set a “buy” rating and a $660.00 price target for the company. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $644.00.

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.