Oppenheimer & Co. Inc. Trims Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Oppenheimer & Co. Inc. trimmed its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 6.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,307 shares of the semiconductor company's stock after selling 1,524 shares during the period. Oppenheimer & Co. Inc.'s holdings in Synopsys were worth $11,296,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Kingsview Wealth Management LLC bought a new stake in Synopsys during the 1st quarter valued at approximately $239,000. Davidson Capital Management Inc. increased its position in shares of Synopsys by 33,828.6% during the 3rd quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company's stock valued at $2,405,000 after purchasing an additional 4,736 shares during the last quarter. Concurrent Investment Advisors LLC bought a new position in shares of Synopsys during the 1st quarter valued at approximately $218,000. Harvest Portfolios Group Inc. increased its position in shares of Synopsys by 3.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company's stock valued at $21,330,000 after purchasing an additional 1,496 shares during the last quarter. Finally, Jacobs & Co. CA bought a new position in shares of Synopsys during the 3rd quarter valued at approximately $10,554,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Trading Down 1.7 %

SNPS stock traded down $9.65 during trading on Thursday, hitting $548.31. 796,174 shares of the company's stock were exchanged, compared to its average volume of 1,060,331. The business has a 50-day moving average price of $511.56 and a two-hundred day moving average price of $545.39. The stock has a market capitalization of $84.23 billion, a price-to-earnings ratio of 57.57, a PEG ratio of 3.37 and a beta of 1.08. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38.

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 analysts' consensus estimates of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the firm posted $2.17 EPS. The company's revenue was up 12.7% on a year-over-year basis. On average, equities research analysts anticipate that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the business's stock in a transaction on Friday, August 23rd. The shares were 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 approximately $34,655,789.52. The trade was a 14.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Piper Sandler lowered their target price on Synopsys from $687.00 to $670.00 and set an "overweight" rating for the company in a report on Thursday, October 24th. Mizuho started coverage on Synopsys in a research report on Tuesday, October 22nd. They set an "outperform" rating and a $650.00 price target on the stock. Loop Capital started coverage on Synopsys in a research report on Monday. They set a "buy" rating and a $675.00 price target on the stock. Berenberg Bank started coverage on Synopsys in a research report on Tuesday, October 15th. They issued a "buy" rating and a $660.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $640.00 price target on shares of Synopsys in a report on Tuesday, October 22nd. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $649.82.

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.