Synopsys, Inc. (NASDAQ:SNPS) Stake Cut by Ballentine Partners LLC

Ballentine Partners LLC lessened its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 12.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 896 shares of the semiconductor company’s stock after selling 131 shares during the quarter. Ballentine Partners LLC’s holdings in Synopsys were worth $454,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in SNPS. Sunbelt Securities Inc. lifted its position in Synopsys by 552.6% in the 1st quarter. Sunbelt Securities Inc. now owns 124 shares of the semiconductor company’s stock worth $71,000 after buying an additional 105 shares in the last quarter. Brookstone Capital Management purchased a new stake in shares of Synopsys during the first quarter worth $400,000. Hennion & Walsh Asset Management Inc. boosted its position in Synopsys by 38.9% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 2,166 shares of the semiconductor company’s stock valued at $1,238,000 after purchasing an additional 607 shares during the last quarter. SteelPeak Wealth LLC grew its stake in Synopsys by 66.7% in the first quarter. SteelPeak Wealth LLC now owns 1,000 shares of the semiconductor company’s stock valued at $572,000 after purchasing an additional 400 shares in the last quarter. Finally, LVW Advisors LLC acquired a new position in Synopsys in the 1st quarter worth about $218,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 62,568 shares in the company, valued at approximately $34,655,789.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.66% of the stock is currently owned by corporate insiders.

Synopsys Stock Up 1.3 %

Shares of NASDAQ:SNPS opened at $501.58 on Monday. The business has a 50 day moving average price of $508.43 and a 200 day moving average price of $545.08. The company has a market cap of $76.85 billion, a price-to-earnings ratio of 54.52, a PEG ratio of 3.44 and a beta of 1.08. Synopsys, Inc. has a twelve month low of $448.91 and a twelve month high of $629.38.

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

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Berenberg Bank began coverage on Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target for the company. Piper Sandler dropped their price target on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. lifted 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. Needham & Company LLC reissued a “buy” rating and set a $640.00 target price on shares of Synopsys in a research report on Tuesday, October 22nd. Finally, Mizuho assumed coverage on Synopsys in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target for the company. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Synopsys currently has a consensus rating of “Buy” and an average price target of $643.00.

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.