Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Intelligence Driven Advisers LLC

Intelligence Driven Advisers LLC decreased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 22.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 430 shares of the semiconductor company’s stock after selling 124 shares during the quarter. Intelligence Driven Advisers LLC’s holdings in Synopsys were worth $218,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Concurrent Investment Advisors LLC acquired a new stake in shares of Synopsys in the first quarter valued at approximately $218,000. Avantax Advisory Services Inc. raised its stake in Synopsys by 22.7% during the 1st quarter. Avantax Advisory Services Inc. now owns 4,467 shares of the semiconductor company’s stock valued at $2,553,000 after acquiring an additional 827 shares in the last quarter. Kingsview Wealth Management LLC acquired a new position in Synopsys during the 1st quarter worth $239,000. Blair William & Co. IL grew its stake in shares of Synopsys by 12.2% in the first quarter. Blair William & Co. IL now owns 41,992 shares of the semiconductor company’s stock worth $23,998,000 after purchasing an additional 4,579 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC grew its stake in shares of Synopsys by 37.3% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 585 shares of the semiconductor company’s stock worth $334,000 after purchasing an additional 159 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling

In other news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was 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 owns 62,568 shares in the company, valued at $34,655,789.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.66% of the company’s stock.

Synopsys Trading Down 2.0 %

Shares of SNPS traded down $11.21 during midday trading on Thursday, hitting $546.75. The stock had a trading volume of 116,164 shares, compared to its average volume of 1,057,024. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The business has a 50-day simple moving average of $511.56 and a two-hundred day simple moving average of $545.39. The firm has a market cap of $83.99 billion, a P/E ratio of 57.88, a price-to-earnings-growth ratio of 3.37 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. The firm 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 company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.17 EPS. On average, analysts expect that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SNPS. Robert W. Baird upped their price objective on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Berenberg Bank assumed coverage on shares of Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research note on Tuesday, October 22nd. Loop Capital assumed coverage on Synopsys in a research report on Monday. They issued a “buy” rating and a $675.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their price target on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat.com, Synopsys currently has a consensus rating of “Buy” and an average price target of $649.82.

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.