Central Asset Investments & Management Holdings HK Ltd Sells 90 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Central Asset Investments & Management Holdings HK Ltd reduced its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,443 shares of the semiconductor company’s stock after selling 90 shares during the quarter. Synopsys accounts for approximately 1.2% of Central Asset Investments & Management Holdings HK Ltd’s investment portfolio, making the stock its 11th biggest holding. Central Asset Investments & Management Holdings HK Ltd’s holdings in Synopsys were worth $3,239,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. 9258 Wealth Management LLC raised its position in shares of Synopsys by 1.1% in the fourth quarter. 9258 Wealth Management LLC now owns 2,908 shares of the semiconductor company’s stock valued at $1,497,000 after purchasing an additional 32 shares during the period. Brown Advisory Inc. raised its position in shares of Synopsys by 6.4% in the fourth quarter. Brown Advisory Inc. now owns 2,104 shares of the semiconductor company’s stock valued at $1,083,000 after purchasing an additional 127 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Synopsys by 0.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 17,651 shares of the semiconductor company’s stock valued at $9,089,000 after purchasing an additional 104 shares during the period. Coldstream Capital Management Inc. raised its position in shares of Synopsys by 0.8% in the fourth quarter. Coldstream Capital Management Inc. now owns 2,195 shares of the semiconductor company’s stock valued at $1,130,000 after purchasing an additional 18 shares during the period. Finally, Balentine LLC raised its position in shares of Synopsys by 69.7% in the fourth quarter. Balentine LLC now owns 1,648 shares of the semiconductor company’s stock valued at $849,000 after purchasing an additional 677 shares during the period. 85.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SNPS has been the topic of several research analyst reports. KeyCorp increased their price objective on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Needham & Company LLC restated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Thursday, August 22nd. JPMorgan Chase & Co. upped their price target 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. Piper Sandler restated an “overweight” rating and issued a $687.00 price target on shares of Synopsys in a research note on Thursday, August 22nd. Finally, Robert W. Baird upped their price target on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $630.09.

Insider Activity

In other news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction that occurred 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 directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Geus Aart De sold 27,753 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $618.58, for a total value of $17,167,450.74. Following the completion of the transaction, the insider now owns 106,983 shares in the company, valued at approximately $66,177,544.14. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction 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 approximately $34,655,789.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,687 shares of company stock worth $44,616,637. Corporate insiders own 0.66% of the company’s stock.

Synopsys Stock Up 0.7 %

Shares of Synopsys stock opened at $502.25 on Wednesday. The company has a market capitalization of $76.95 billion, a price-to-earnings ratio of 54.59, a PEG ratio of 3.23 and a beta of 1.08. Synopsys, Inc. has a 12-month low of $440.62 and a 12-month high of $629.38. The firm’s 50-day moving average price is $532.47 and its two-hundred day moving average price is $558.06.

Synopsys (NASDAQ:SNPS) last posted its quarterly 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 company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the company posted $2.17 EPS. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, sell-side analysts expect that Synopsys, Inc. will post 9.45 earnings per share for the current year.

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.