Strategic Advocates LLC Sells 1,078 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Strategic Advocates LLC lowered its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 19.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 4,392 shares of the semiconductor company’s stock after selling 1,078 shares during the quarter. Synopsys comprises approximately 0.8% of Strategic Advocates LLC’s holdings, making the stock its 23rd largest holding. Strategic Advocates LLC’s holdings in Synopsys were worth $2,224,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the business. Andina Capital Management LLC raised its position in Synopsys by 2.8% during the second quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock worth $395,000 after acquiring an additional 18 shares during the period. Cascade Financial Partners LLC raised its position in Synopsys by 4.9% during the second quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock worth $232,000 after acquiring an additional 18 shares during the period. Ignite Planners LLC raised its position in Synopsys by 3.5% during the first quarter. Ignite Planners LLC now owns 596 shares of the semiconductor company’s stock worth $344,000 after acquiring an additional 20 shares during the period. Monument Capital Management raised its position in Synopsys by 1.1% during the first quarter. Monument Capital Management now owns 1,880 shares of the semiconductor company’s stock worth $1,074,000 after acquiring an additional 20 shares during the period. Finally, Hazlett Burt & Watson Inc. raised its position in Synopsys by 40.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 20 shares during the period. Institutional investors own 85.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird upped their target price on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. upped their target price on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a report on Friday, August 23rd. Needham & Company LLC reissued a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a report on Thursday, August 22nd. Finally, KeyCorp upped their price objective on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Synopsys currently has an average rating of “Buy” and a consensus price target of $644.00.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the 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 transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at $34,655,789.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.66% of the stock is owned by corporate insiders.

Synopsys Stock Performance

Shares of SNPS traded up $1.23 during mid-day trading on Friday, hitting $505.92. 344,255 shares of the company’s stock were exchanged, compared to its average volume of 1,077,806. The company has a market cap of $77.71 billion, a price-to-earnings ratio of 52.35, a P/E/G ratio of 3.73 and a beta of 1.08. Synopsys, Inc. has a fifty-two week low of $448.91 and a fifty-two week high of $629.38. The stock’s 50-day moving average is $512.37 and its 200-day moving average is $548.41.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.15. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.17 earnings per share. As a group, equities research analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current year.

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.