AlphaCentric Advisors LLC Has $506,000 Position in Synopsys, Inc. (NASDAQ:SNPS)

AlphaCentric Advisors LLC cut its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 50.0% during the third quarter, Holdings Channel reports. The institutional investor owned 1,000 shares of the semiconductor company’s stock after selling 1,000 shares during the quarter. AlphaCentric Advisors LLC’s holdings in Synopsys were worth $506,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SNPS. ORG Partners LLC grew its position in Synopsys by 600.0% during the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after buying an additional 36 shares in the last quarter. Pacifica Partners Inc. acquired a new stake in Synopsys during the third quarter worth about $25,000. Tsfg LLC grew its position in Synopsys by 75.0% during the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after buying an additional 24 shares in the last quarter. Chris Bulman Inc acquired a new stake in Synopsys during the second quarter worth about $30,000. Finally, Hazlett Burt & Watson Inc. grew its position in Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after buying an additional 20 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Trading Up 1.2 %

NASDAQ:SNPS opened at $524.52 on Tuesday. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38. The firm has a 50 day moving average of $504.93 and a 200-day moving average of $544.14. The stock has a market capitalization of $80.57 billion, a P/E ratio of 54.41, a price-to-earnings-growth ratio of 3.16 and a beta of 1.08.

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, topping 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 firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the company posted $2.17 EPS. Synopsys’s revenue was up 12.7% on a year-over-year basis. As a group, analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sassine Ghazi sold 10,293 shares of the business’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 completion of the transaction, the chief executive officer now owns 62,568 shares in the company, 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 SEC, which is available at the SEC website. 0.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SNPS has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Berenberg Bank initiated coverage on Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective on the stock. Piper Sandler decreased their price objective on Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 price objective on shares of Synopsys in a report on Friday, August 23rd. Finally, Robert W. Baird lifted their price objective on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $643.00.

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.