Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by My Legacy Advisors LLC

My Legacy Advisors LLC lowered its stake in Synopsys, Inc. (NASDAQ:SNPS) by 9.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 649 shares of the semiconductor company’s stock after selling 66 shares during the period. My Legacy Advisors LLC’s holdings in Synopsys were worth $329,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SNPS. Ballentine Partners LLC boosted its stake in shares of Synopsys by 7.7% in the first quarter. Ballentine Partners LLC now owns 773 shares of the semiconductor company’s stock valued at $442,000 after buying an additional 55 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in shares of Synopsys by 552.6% in the first quarter. Sunbelt Securities Inc. now owns 124 shares of the semiconductor company’s stock valued at $71,000 after buying an additional 105 shares in the last quarter. Brookstone Capital Management purchased a new stake in shares of Synopsys in the first quarter valued at approximately $400,000. DGS Capital Management LLC boosted its stake in shares of Synopsys by 29.9% in the first quarter. DGS Capital Management LLC now owns 1,431 shares of the semiconductor company’s stock valued at $818,000 after buying an additional 329 shares in the last quarter. Finally, SMI Advisory Services LLC purchased a new stake in shares of Synopsys in the first quarter valued at approximately $4,038,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.66% of the company’s stock.

Synopsys Trading Down 0.6 %

Synopsys stock opened at $502.41 on Wednesday. The firm has a market capitalization of $77.18 billion, a P/E ratio of 52.12, a PEG ratio of 3.47 and a beta of 1.08. The stock has a fifty day moving average price of $511.19 and a 200 day moving average price of $546.60. Synopsys, Inc. has a 52 week low of $448.91 and a 52 week high of $629.38.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, beating the consensus estimate 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%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.17 earnings per share. As a group, equities analysts predict that Synopsys, Inc. will post 9.45 EPS for the current year.

Wall Street Analysts Forecast Growth

SNPS has been the topic of a number of analyst reports. Needham & Company LLC restated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Tuesday. KeyCorp boosted their price objective on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. JPMorgan Chase & Co. raised their target price on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 price target on shares of Synopsys in a report on Friday, August 23rd. Finally, Robert W. Baird raised their price objective 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. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $644.55.

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.