SeaCrest Wealth Management LLC Cuts Stake in Synopsys, Inc. (NASDAQ:SNPS)

SeaCrest Wealth Management LLC lowered its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 9.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 395 shares of the semiconductor company’s stock after selling 40 shares during the period. SeaCrest Wealth Management LLC’s holdings in Synopsys were worth $200,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Andina Capital Management LLC grew its stake in shares of Synopsys by 2.8% during the second quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock valued at $395,000 after buying an additional 18 shares during the last quarter. Cascade Financial Partners LLC grew its position in Synopsys by 4.9% during the 2nd quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock worth $232,000 after acquiring an additional 18 shares during the last quarter. Hazlett Burt & Watson Inc. increased its stake in Synopsys by 40.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 20 shares during the period. Ignite Planners LLC lifted its position in Synopsys by 3.5% in the first quarter. Ignite Planners LLC now owns 596 shares of the semiconductor company’s stock valued at $344,000 after purchasing an additional 20 shares during the last quarter. Finally, Monument Capital Management boosted its stake in shares of Synopsys by 1.1% during the first quarter. Monument Capital Management now owns 1,880 shares of the semiconductor company’s stock valued at $1,074,000 after purchasing an additional 20 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Up 0.5 %

NASDAQ SNPS opened at $507.03 on Friday. The firm has a market capitalization of $77.88 billion, a PE ratio of 52.60, a P/E/G ratio of 3.73 and a beta of 1.08. The stock’s 50 day moving average is $512.02 and its 200 day moving average is $547.92. Synopsys, Inc. has a twelve month low of $448.91 and a twelve month high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, beating analysts’ consensus estimates of $3.28 by $0.15. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.17 EPS. On average, research analysts anticipate that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $34,655,789.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SNPS shares. Robert W. Baird lifted their target price 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. JPMorgan Chase & Co. upped 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. Berenberg Bank began coverage on shares of Synopsys in a report on Tuesday. They set a “buy” rating and a $660.00 target price for the company. Piper Sandler restated an “overweight” rating and set a $687.00 price target on shares of Synopsys in a report on Thursday, August 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a report on Thursday, August 22nd. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Synopsys currently has a consensus rating of “Buy” and an average target price 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.