Banque Cantonale Vaudoise Cuts Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Banque Cantonale Vaudoise cut its stake in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 59.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,311 shares of the semiconductor company's stock after selling 4,921 shares during the period. Banque Cantonale Vaudoise's holdings in Synopsys were worth $1,677,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SNPS. Lake Street Advisors Group LLC boosted its holdings in shares of Synopsys by 33.9% during the 1st quarter. Lake Street Advisors Group LLC now owns 872 shares of the semiconductor company's stock valued at $498,000 after buying an additional 221 shares in the last quarter. Crewe Advisors LLC purchased a new stake in Synopsys in the first quarter worth about $81,000. CreativeOne Wealth LLC bought a new position in shares of Synopsys during the first quarter valued at approximately $1,085,000. EP Wealth Advisors LLC lifted its holdings in shares of Synopsys by 17.6% during the first quarter. EP Wealth Advisors LLC now owns 1,400 shares of the semiconductor company's stock valued at $800,000 after purchasing an additional 210 shares during the last quarter. Finally, Axxcess Wealth Management LLC boosted its position in shares of Synopsys by 44.9% in the 1st quarter. Axxcess Wealth Management LLC now owns 4,030 shares of the semiconductor company's stock worth $2,303,000 after purchasing an additional 1,249 shares in the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Stock Performance

SNPS stock opened at $541.56 on Thursday. The company has a market cap of $83.19 billion, a price-to-earnings ratio of 56.18, a P/E/G ratio of 3.26 and a beta of 1.08. The business's 50-day moving average is $517.91 and its two-hundred day moving average is $545.47. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38.

Synopsys (NASDAQ:SNPS - Get Free Report) last posted its quarterly earnings data 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 net margin of 24.06% and a return on equity of 22.09%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the firm posted $2.17 earnings per share. The firm's revenue was up 12.7% compared to the same quarter last year. Equities analysts predict that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of the firm's stock in a transaction dated 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 owns 62,568 shares of the company's stock, valued at $34,655,789.52. This trade 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. Corporate insiders own 0.66% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Loop Capital began coverage on Synopsys in a research note on Monday, November 11th. They set a "buy" rating and a $675.00 price objective for the company. Robert W. Baird upped their price target 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. Rosenblatt Securities reaffirmed a "buy" rating and issued a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. JPMorgan Chase & Co. increased their price target on shares of Synopsys from $655.00 to $685.00 and gave the company an "overweight" rating in a report on Thursday, August 22nd. Finally, Berenberg Bank initiated coverage on shares of Synopsys in a report on Tuesday, October 15th. They issued a "buy" rating and a $660.00 price objective for the company. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $649.82.

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.