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

Signaturefd LLC lowered its stake in Synopsys, Inc. (NASDAQ:SNPS) by 3.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,792 shares of the semiconductor company’s stock after selling 144 shares during the period. Signaturefd LLC’s holdings in Synopsys were worth $1,920,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. ORG Partners LLC increased its stake in 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 during the period. Pacifica Partners Inc. bought a new position in shares of Synopsys in the third quarter worth approximately $25,000. Tsfg LLC increased its stake in shares of Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after buying an additional 24 shares during the period. Chris Bulman Inc bought a new stake in Synopsys during the 2nd quarter valued at $30,000. Finally, Fortitude Family Office LLC boosted its position in Synopsys by 66.7% during the 2nd 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 during the period. Institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of Synopsys stock opened at $502.41 on Wednesday. Synopsys, Inc. has a 1 year low of $448.91 and a 1 year high of $629.38. The firm has a market cap of $77.18 billion, a price-to-earnings ratio of 52.12, a PEG ratio of 3.47 and a beta of 1.08. The company has a 50-day moving average of $511.19 and a 200 day moving average of $546.60.

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 net margin of 24.06% and a return on equity of 22.09%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the firm earned $2.17 earnings per share. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, equities analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SNPS shares. JPMorgan Chase & Co. boosted their price objective on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Piper Sandler restated an “overweight” rating and set a $687.00 price target on shares of Synopsys in a report on Thursday, August 22nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 price target on shares of Synopsys in a research report on Friday, August 23rd. Robert W. Baird lifted their price objective on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Finally, Mizuho began coverage on Synopsys in a report on Tuesday. They set an “outperform” rating and a $650.00 target price for the company. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $644.55.

Insider Transactions at Synopsys

In other news, 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 transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.66% of the company’s stock.

About Synopsys

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.