Verdence Capital Advisors LLC Has $287,000 Stake in Synopsys, Inc. (NASDAQ:SNPS)

Verdence Capital Advisors LLC lifted its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 32.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 567 shares of the semiconductor company’s stock after purchasing an additional 139 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Synopsys were worth $287,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. CWA Asset Management Group LLC bought a new stake in Synopsys in the 3rd quarter valued at approximately $1,138,000. ABLE Financial Group LLC raised its holdings in shares of Synopsys by 16.6% in the third quarter. ABLE Financial Group LLC now owns 2,657 shares of the semiconductor company’s stock valued at $1,345,000 after purchasing an additional 378 shares during the last quarter. Stiles Financial Services Inc lifted its position in shares of Synopsys by 1.3% in the third quarter. Stiles Financial Services Inc now owns 3,737 shares of the semiconductor company’s stock worth $1,892,000 after purchasing an additional 49 shares in the last quarter. Bensler LLC boosted its holdings in Synopsys by 10.9% during the third quarter. Bensler LLC now owns 9,723 shares of the semiconductor company’s stock worth $4,924,000 after purchasing an additional 958 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS grew its position in Synopsys by 4.4% in the third quarter. Kornitzer Capital Management Inc. KS now owns 17,176 shares of the semiconductor company’s stock valued at $8,698,000 after purchasing an additional 725 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SNPS. Needham & Company LLC restated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research note on Tuesday, October 22nd. Piper Sandler decreased their price target on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Robert W. Baird upped their price objective on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Loop Capital initiated coverage on shares of Synopsys in a research note on Monday. They issued a “buy” rating and a $675.00 target price for the company. Finally, Mizuho assumed coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target on the stock. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $649.82.

Synopsys Trading Down 0.5 %

NASDAQ:SNPS opened at $553.47 on Wednesday. The stock has a 50 day simple moving average of $508.51 and a 200 day simple moving average of $545.23. The stock has a market cap of $85.02 billion, a P/E ratio of 57.70, a PEG ratio of 3.42 and a beta of 1.08. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38.

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, beating analysts’ consensus estimates of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the business posted $2.17 earnings per share. Synopsys’s quarterly revenue was up 12.7% on a year-over-year basis. As a group, sell-side analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Sassine Ghazi sold 10,293 shares of the business’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 value of $5,701,189.77. Following the completion of the sale, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company 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.