Synopsys, Inc. (NASDAQ:SNPS) Holdings Decreased by Bleakley Financial Group LLC

Bleakley Financial Group LLC cut its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 35.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,935 shares of the semiconductor company's stock after selling 1,591 shares during the period. Bleakley Financial Group LLC's holdings in Synopsys were worth $1,486,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. nVerses Capital LLC acquired a new stake in Synopsys in the third quarter worth $51,000. Tamar Securities LLC grew its position in shares of Synopsys by 28.7% during the third quarter. Tamar Securities LLC now owns 44,223 shares of the semiconductor company's stock worth $22,394,000 after acquiring an additional 9,870 shares during the last quarter. Rheos Capital Works Inc. acquired a new stake in shares of Synopsys in the 3rd quarter worth about $20,256,000. Wolff Wiese Magana LLC increased its holdings in shares of Synopsys by 2.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 1,107 shares of the semiconductor company's stock worth $561,000 after acquiring an additional 25 shares during the period. Finally, Vontobel Holding Ltd. lifted its position in Synopsys by 4.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 965,256 shares of the semiconductor company's stock valued at $488,796,000 after purchasing an additional 43,228 shares during 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 on Friday, August 23rd. The stock was 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 $34,655,789.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.66% of the company's stock.

Synopsys Stock Up 0.5 %

Synopsys stock traded up $2.34 during midday trading on Friday, hitting $507.03. The company's stock had a trading volume of 862,658 shares, compared to its average volume of 1,080,499. Synopsys, Inc. has a 12 month low of $448.91 and a 12 month high of $629.38. The stock's 50-day moving average price is $512.02 and its 200-day moving average price is $547.55. The company has a market capitalization of $77.69 billion, a PE ratio of 55.11, a price-to-earnings-growth ratio of 3.73 and a beta of 1.08.

Synopsys (NASDAQ:SNPS - Get Free Report) last released 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. The business had revenue of $1.53 billion during 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 quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.17 earnings per share. As a group, equities analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on SNPS shares. Robert W. Baird raised their price target on shares of Synopsys from $661.00 to $663.00 and gave the company an "outperform" rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. raised their target price on Synopsys from $655.00 to $685.00 and gave the company an "overweight" rating in a research report on Thursday, August 22nd. KeyCorp boosted their price target on Synopsys from $675.00 to $690.00 and gave the stock an "overweight" rating in a research report on Thursday, June 27th. Piper Sandler reissued an "overweight" rating and set a $687.00 price target on shares of Synopsys in a report on Thursday, August 22nd. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $635.00 price objective on shares of Synopsys in a report on Friday, August 23rd. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $644.00.

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.