Strategic Advocates LLC Sells 1,078 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Strategic Advocates LLC reduced its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 19.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,392 shares of the semiconductor company's stock after selling 1,078 shares during the quarter. Synopsys makes up approximately 0.8% of Strategic Advocates LLC's holdings, making the stock its 23rd largest holding. Strategic Advocates LLC's holdings in Synopsys were worth $2,224,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. ORG Partners LLC grew its stake in shares of Synopsys by 600.0% during the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 36 shares during the last quarter. Chris Bulman Inc bought a new stake in Synopsys during the 2nd quarter worth about $30,000. Pacifica Partners Inc. bought a new stake in Synopsys during the 3rd quarter worth about $25,000. Tsfg LLC boosted 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 during the last quarter. Finally, Fortitude Family Office LLC boosted 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 during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Stock Up 0.5 %

Shares of NASDAQ:SNPS traded up $2.34 during mid-day trading on Friday, reaching $507.03. 854,725 shares of the stock were exchanged, compared to its average volume of 1,080,499. The company has a market cap of $77.88 billion, a P/E ratio of 52.60, a P/E/G ratio of 3.73 and a beta of 1.08. The stock's 50 day simple moving average is $512.02 and its 200-day simple moving average is $547.92. Synopsys, Inc. has a one year low of $448.91 and a one year high of $629.38.

Synopsys (NASDAQ:SNPS - Get Free Report) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS 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 business 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 company posted $2.17 earnings per share. The firm's revenue was up 12.7% on a year-over-year basis. Analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the company's stock in a transaction on 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 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.66% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Rosenblatt Securities reaffirmed a "buy" rating and issued a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. KeyCorp upped their price objective on Synopsys from $675.00 to $690.00 and gave the company an "overweight" rating in a report on Thursday, June 27th. Piper Sandler restated an "overweight" rating and set a $687.00 target price on shares of Synopsys in a report on Thursday, August 22nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $640.00 price target on shares of Synopsys in a research note on Thursday, August 22nd. Finally, Robert W. Baird lifted their price objective on shares of Synopsys from $661.00 to $663.00 and gave the stock an "outperform" rating in a research note on Thursday, August 22nd. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $644.00.

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.