Bleakley Financial Group LLC Sells 1,591 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Bleakley Financial Group LLC cut its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 35.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,935 shares of the semiconductor company’s stock after selling 1,591 shares during the quarter. Bleakley Financial Group LLC’s holdings in Synopsys were worth $1,486,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Synopsys by 2.1% during the first quarter. Vanguard Group Inc. now owns 13,829,357 shares of the semiconductor company’s stock worth $7,903,478,000 after acquiring an additional 278,265 shares in the last quarter. Capital World Investors raised its stake in shares of Synopsys by 12.5% during the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock worth $4,211,892,000 after acquiring an additional 818,485 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Synopsys by 39.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock worth $3,050,441,000 after acquiring an additional 1,514,449 shares in the last quarter. GQG Partners LLC raised its stake in shares of Synopsys by 91.6% during the first quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock worth $1,197,350,000 after acquiring an additional 1,001,371 shares in the last quarter. Finally, Swedbank AB raised its stake in shares of Synopsys by 1.4% during the second quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock worth $1,110,461,000 after acquiring an additional 25,999 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SNPS shares. JPMorgan Chase & Co. lifted their price target on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $687.00 target price on shares of Synopsys in a research note on Thursday, August 22nd. Berenberg Bank assumed coverage on shares of Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price on the stock. KeyCorp lifted their target price on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research note on Friday, August 23rd. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $644.00.

Synopsys Trading Up 0.5 %

Shares of Synopsys stock opened at $507.03 on Friday. The company’s fifty day simple moving average is $512.02 and its two-hundred day simple moving average is $547.77. The company has a market cap of $77.69 billion, a P/E ratio of 55.11, a PEG ratio of 3.73 and a beta of 1.08. Synopsys, Inc. has a 12-month low of $448.91 and a 12-month high of $629.38.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data 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 business had revenue of $1.53 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.17 EPS. Analysts predict that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Synopsys 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.