Huntington National Bank Sells 14,358 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Huntington National Bank lessened its position in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 38.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,986 shares of the semiconductor company's stock after selling 14,358 shares during the period. Huntington National Bank's holdings in Synopsys were worth $11,640,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SNPS. ORG Partners LLC raised its position in Synopsys by 600.0% during the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company's stock worth $25,000 after buying an additional 36 shares during the last quarter. Pacifica Partners Inc. purchased a new position in Synopsys during the 3rd quarter worth $25,000. Tsfg LLC raised its position in Synopsys by 75.0% during the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company's stock worth $28,000 after buying an additional 24 shares during the last quarter. Chris Bulman Inc purchased a new position in Synopsys during the 2nd quarter worth $30,000. Finally, Hazlett Burt & Watson Inc. raised its position in Synopsys by 40.0% during 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 during the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Mizuho assumed coverage on shares of Synopsys in a report on Tuesday, October 22nd. They issued an "outperform" rating and a $650.00 price target for the company. Loop Capital initiated coverage on shares of Synopsys in a report on Monday. They issued a "buy" rating and a $675.00 price target for the company. Rosenblatt Securities reissued a "buy" rating and issued a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. Piper Sandler lowered their price objective on shares of Synopsys from $687.00 to $670.00 and set an "overweight" rating on the stock in a research note on Thursday, October 24th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $640.00 price objective on shares of Synopsys in a research note on Tuesday, October 22nd. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Synopsys currently has an average rating of "Buy" and an average price target of $649.82.

Synopsys Stock Down 5.0 %

Synopsys stock traded down $27.56 during midday trading on Friday, hitting $520.75. The company's stock had a trading volume of 1,025,696 shares, compared to its average volume of 1,060,179. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The stock's 50-day moving average price is $513.01 and its 200-day moving average price is $545.41. The company has a market capitalization of $79.99 billion, a PE ratio of 55.36, a price-to-earnings-growth ratio of 3.40 and a beta of 1.08.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.52 billion. During the same quarter in the prior year, the business earned $2.17 earnings per share. The company's revenue was up 12.7% on a year-over-year basis. As a group, equities analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current year.

Insider Activity

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the company's stock in a transaction on 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 directly owns 62,568 shares of the company's stock, valued at $34,655,789.52. This represents a 14.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.66% of the stock is currently owned by company insiders.

Synopsys 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.