L & S Advisors Inc Trims Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

L & S Advisors Inc lowered its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 4.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 3,160 shares of the semiconductor company’s stock after selling 162 shares during the period. L & S Advisors Inc’s holdings in Synopsys were worth $1,600,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SNPS. ORG Partners LLC increased its stake in shares of Synopsys by 600.0% in the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 36 shares in the last quarter. Chris Bulman Inc purchased a new position in shares of Synopsys in the 2nd quarter valued at about $30,000. Pacifica Partners Inc. purchased a new position in shares of Synopsys in the 3rd quarter valued at about $25,000. Tsfg LLC increased its stake in shares of Synopsys by 75.0% in the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 24 shares in the last quarter. Finally, Fortitude Family Office LLC increased its stake in shares of Synopsys by 66.7% in the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on SNPS shares. Rosenblatt Securities restated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research note on Friday, August 23rd. Loop Capital initiated coverage on Synopsys in a report on Monday, November 11th. They issued a “buy” rating and a $675.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a report on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their price objective on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Finally, Piper Sandler lowered 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. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $649.82.

Synopsys Stock Performance

SNPS stock opened at $557.73 on Friday. The firm has a market cap of $85.67 billion, a PE ratio of 57.86, a PEG ratio of 3.26 and a beta of 1.08. The firm’s 50 day moving average price is $519.28 and its 200-day moving average price is $545.55. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, beating the consensus estimate of $3.28 by $0.15. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.17 EPS. Equities research analysts predict that Synopsys, Inc. will post 9.45 EPS for the current fiscal 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.