Accent Capital Management LLC Has $945,000 Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Accent Capital Management LLC lessened its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 37.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,867 shares of the semiconductor company's stock after selling 1,113 shares during the quarter. Accent Capital Management LLC's holdings in Synopsys were worth $945,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. ORG Partners LLC grew its position in Synopsys by 600.0% in the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 36 shares in the last quarter. Pacifica Partners Inc. acquired a new stake in Synopsys during the 3rd quarter valued at $25,000. Tsfg LLC grew its holdings in 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 purchasing an additional 24 shares in the last quarter. Chris Bulman Inc purchased a new stake in Synopsys during the 2nd quarter worth $30,000. Finally, Hazlett Burt & Watson Inc. lifted its holdings in Synopsys by 40.0% in the 3rd 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. Hedge funds and other institutional investors own 85.47% of the company's stock.

Synopsys Stock Down 5.0 %

NASDAQ SNPS traded down $27.56 on Friday, hitting $520.75. The stock had a trading volume of 1,025,738 shares, compared to its average volume of 846,867. The company's 50-day moving average is $514.14 and its two-hundred day moving average is $545.35. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The stock has a market cap of $79.99 billion, a price-to-earnings ratio of 54.02, a P/E/G ratio of 3.18 and a beta of 1.08.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its 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. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The firm had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.52 billion. During the same period last year, the firm earned $2.17 EPS. The firm's revenue was up 12.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SNPS shares. Mizuho began coverage on Synopsys in a research report on Tuesday, October 22nd. They set an "outperform" rating and a $650.00 target price on the stock. Berenberg Bank initiated coverage on Synopsys in a research note on Tuesday, October 15th. They set a "buy" rating and a $660.00 price objective for the company. Loop Capital initiated coverage on Synopsys in a research report on Monday, November 11th. They issued a "buy" rating and a $675.00 target price on the stock. Needham & Company LLC reissued a "buy" rating and set a $640.00 price target on shares of Synopsys in a research report on Tuesday, October 22nd. Finally, Piper Sandler decreased their price target on Synopsys from $687.00 to $670.00 and set an "overweight" rating for the company in a research note on Thursday, October 24th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $649.82.

Insiders Place Their Bets

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the company's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the completion of the sale, the chief executive officer now directly owns 62,568 shares of the company's stock, valued at approximately $34,655,789.52. This represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is currently owned by insiders.

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.