Signaturefd LLC Sells 144 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Signaturefd LLC decreased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 3.7% during the third quarter, Holdings Channel reports. The firm owned 3,792 shares of the semiconductor company’s stock after selling 144 shares during the quarter. Signaturefd LLC’s holdings in Synopsys were worth $1,920,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SNPS. Ballentine Partners LLC increased its position in shares of Synopsys by 7.7% during the 1st quarter. Ballentine Partners LLC now owns 773 shares of the semiconductor company’s stock valued at $442,000 after purchasing an additional 55 shares during the last quarter. Sunbelt Securities Inc. grew its position in Synopsys by 552.6% during 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 during the period. Brookstone Capital Management purchased a new stake in Synopsys during the first quarter valued at approximately $400,000. DGS Capital Management LLC raised its position in Synopsys by 29.9% in the first quarter. DGS Capital Management LLC now owns 1,431 shares of the semiconductor company’s stock worth $818,000 after acquiring an additional 329 shares during the period. Finally, SMI Advisory Services LLC purchased a new position in shares of Synopsys during the 1st quarter worth $4,038,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Trading Down 0.6 %

SNPS opened at $502.41 on Wednesday. The stock has a 50-day moving average of $511.19 and a 200 day moving average of $546.60. Synopsys, Inc. has a 12 month low of $448.91 and a 12 month high of $629.38. The firm has a market cap of $77.18 billion, a P/E ratio of 52.12, a P/E/G ratio of 3.47 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.15. The business 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 company’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period last year, the company earned $2.17 EPS. On average, research analysts forecast that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Robert W. Baird boosted their price target on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. KeyCorp lifted their price target on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Piper Sandler reissued an “overweight” rating and issued a $687.00 price objective on shares of Synopsys in a research note on Thursday, August 22nd. Rosenblatt Securities reissued a “buy” rating and set a $635.00 target price on shares of Synopsys in a research note on Friday, August 23rd. Finally, JPMorgan Chase & Co. upped their price target on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $644.55.

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total value of $5,701,189.77. Following the sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.66% of the stock is owned by insiders.

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.