Caprock Group LLC Cuts Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Caprock Group LLC reduced its position in Synopsys, Inc. (NASDAQ:SNPS) by 4.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,694 shares of the semiconductor company’s stock after selling 160 shares during the quarter. Caprock Group LLC’s holdings in Synopsys were worth $1,871,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ORG Partners LLC boosted its holdings in shares of Synopsys by 600.0% in the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 36 shares in the last quarter. Chris Bulman Inc bought a new stake in shares of Synopsys in the 2nd quarter valued at about $30,000. Pacifica Partners Inc. bought a new stake in shares of Synopsys in the 3rd quarter valued at about $25,000. Tsfg LLC lifted its stake in shares of Synopsys by 75.0% in 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 lifted its stake in shares of Synopsys by 66.7% in 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 currently owned by hedge funds and other institutional investors.

Synopsys Stock Performance

Shares of NASDAQ:SNPS opened at $541.56 on Thursday. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The firm has a market capitalization of $83.19 billion, a P/E ratio of 56.18, a P/E/G ratio of 3.18 and a beta of 1.08. The stock has a 50 day moving average price of $517.91 and a 200-day moving average price of $545.47.

Synopsys (NASDAQ:SNPS) last announced its earnings results 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 return on equity of 22.09% and a net margin of 24.06%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the company earned $2.17 EPS. The business’s revenue was up 12.7% compared to the same quarter last year. On average, equities analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SNPS has been the subject of a number of recent research reports. Robert W. Baird boosted their target price on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Loop Capital initiated coverage on Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 target price for the company. JPMorgan Chase & Co. boosted their target price on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Berenberg Bank assumed coverage on Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price target on shares of Synopsys in a research report on Tuesday, October 22nd. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $649.82.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of the 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 completion of the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. This represents a 14.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.66% of the company’s stock.

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.