Synopsys, Inc. (NASDAQ:SNPS) Stock Position Cut by Perpetual Ltd

Perpetual Ltd lessened its stake in Synopsys, Inc. (NASDAQ:SNPS) by 99.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 512 shares of the semiconductor company’s stock after selling 127,310 shares during the period. Perpetual Ltd’s holdings in Synopsys were worth $259,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. ORG Partners LLC lifted its holdings in Synopsys by 600.0% in 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 purchased a new stake in Synopsys during the second quarter valued at about $30,000. Pacifica Partners Inc. purchased a new stake in Synopsys during the third quarter valued at about $25,000. Fortitude Family Office LLC lifted its stake in Synopsys by 66.7% during the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 24 shares in the last quarter. Finally, Hobbs Group Advisors LLC purchased a new stake in Synopsys during the second quarter valued at about $40,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Stock Performance

Shares of NASDAQ SNPS opened at $539.92 on Friday. Synopsys, Inc. has a 52-week low of $448.91 and a 52-week high of $629.38. The stock has a market cap of $82.72 billion, a PE ratio of 58.69, a PEG ratio of 3.49 and a beta of 1.08. The business has a fifty day moving average of $510.84 and a two-hundred day moving average of $549.78.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, beating analysts’ consensus estimates of $3.28 by $0.15. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the company posted $2.17 earnings per share. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. Analysts predict that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Insider Activity

In other news, insider Geus Aart De sold 493 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $620.60, for a total value of $305,955.80. Following the completion of the sale, the insider now directly owns 106,983 shares in the company, valued at approximately $66,393,649.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Geus Aart De sold 493 shares of Synopsys stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $620.60, for a total value of $305,955.80. Following the completion of the sale, the insider now directly owns 106,983 shares in the company, valued at $66,393,649.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction dated 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 sale, the chief executive officer now 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 ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

SNPS has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped 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. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research note on Thursday, August 22nd. Robert W. Baird increased their price target on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Finally, KeyCorp increased their price target 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. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $642.22.

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.