Bar Harbor Wealth Management Decreases Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Bar Harbor Wealth Management reduced its position in Synopsys, Inc. (NASDAQ:SNPS) by 8.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 465 shares of the semiconductor company’s stock after selling 41 shares during the period. Bar Harbor Wealth Management’s holdings in Synopsys were worth $235,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. ORG Partners LLC grew its position in shares of Synopsys by 600.0% during the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 36 shares during the period. Pacifica Partners Inc. purchased a new stake in shares of Synopsys during the 3rd quarter valued at about $25,000. Tsfg LLC raised its position in shares of 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 buying an additional 24 shares in the last quarter. Chris Bulman Inc purchased a new stake in shares of Synopsys during the 2nd quarter valued at about $30,000. Finally, Fortitude Family Office LLC raised its position in Synopsys by 66.7% in the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 24 shares during the period. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

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

Synopsys Stock Up 0.5 %

NASDAQ SNPS opened at $507.03 on Friday. Synopsys, Inc. has a 52 week low of $448.91 and a 52 week high of $629.38. The stock has a market capitalization of $77.88 billion, a PE ratio of 52.60, a price-to-earnings-growth ratio of 3.73 and a beta of 1.08. The firm has a 50 day moving average of $512.02 and a two-hundred day moving average of $547.92.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.52 billion. During the same quarter in the prior year, the business posted $2.17 EPS. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, equities research analysts expect that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal 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.