Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by MAI Capital Management

MAI Capital Management decreased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 45.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,662 shares of the semiconductor company’s stock after selling 1,390 shares during the quarter. MAI Capital Management’s holdings in Synopsys were worth $842,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. ORG Partners LLC grew its holdings in Synopsys by 600.0% in the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 36 shares during the last quarter. Pacifica Partners Inc. acquired a new stake in Synopsys in the 3rd quarter valued at about $25,000. Tsfg LLC increased its holdings in Synopsys by 75.0% during 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 in the last quarter. Chris Bulman Inc acquired a new position in Synopsys during the second quarter worth about $30,000. Finally, Hazlett Burt & Watson Inc. lifted its holdings in shares of Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Performance

SNPS stock opened at $557.73 on Friday. The firm has a market cap of $85.67 billion, a P/E ratio of 57.86, a price-to-earnings-growth ratio of 3.26 and a beta of 1.08. The stock has a 50-day simple moving average of $519.28 and a 200-day simple moving average of $545.55. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data 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 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 period in the prior year, the company posted $2.17 EPS. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, equities research analysts predict that Synopsys, Inc. will post 9.45 EPS for the current year.

Wall Street Analyst Weigh In

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

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.