Synopsys, Inc. (NASDAQ:SNPS) Stake Cut by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. cut its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 7.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 374 shares of the semiconductor company’s stock after selling 32 shares during the period. Raleigh Capital Management Inc.’s holdings in Synopsys were worth $189,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNPS. ORG Partners LLC increased its holdings in shares of Synopsys by 600.0% during the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 36 shares during the last quarter. Chris Bulman Inc acquired a new position in shares of Synopsys during the 2nd quarter valued at about $30,000. Pacifica Partners Inc. acquired a new position in shares of Synopsys during the 3rd quarter valued at about $25,000. Tsfg LLC increased its holdings in shares of Synopsys by 75.0% during the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 24 shares during the last quarter. Finally, Fortitude Family Office LLC increased its holdings in shares of Synopsys by 66.7% during the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 24 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Trading Down 0.6 %

Shares of NASDAQ:SNPS opened at $502.41 on Wednesday. Synopsys, Inc. has a 1-year low of $448.91 and a 1-year high of $629.38. The firm has a market capitalization of $77.18 billion, a PE ratio of 52.12, a PEG ratio of 3.47 and a beta of 1.08. The business’s 50 day moving average is $511.19 and its 200-day moving average is $546.60.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, topping the consensus estimate of $3.28 by $0.15. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the company earned $2.17 EPS. On average, sell-side analysts predict that Synopsys, Inc. will post 9.45 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $687.00 target price on shares of Synopsys in a report on Thursday, August 22nd. JPMorgan Chase & Co. raised their target price on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 target price on shares of Synopsys in a report on Tuesday. KeyCorp raised their target price on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $644.55.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 10,293 shares of the firm’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 transaction of $5,701,189.77. Following the completion of the transaction, the chief executive officer now owns 62,568 shares in the company, valued at $34,655,789.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is owned by corporate insiders.

Synopsys Company 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.