Apella Capital LLC Lowers Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Apella Capital LLC trimmed its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 17.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 589 shares of the semiconductor company’s stock after selling 128 shares during the quarter. Apella Capital LLC’s holdings in Synopsys were worth $293,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Synopsys by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 13,829,357 shares of the semiconductor company’s stock valued at $7,903,478,000 after acquiring an additional 278,265 shares in the last quarter. Capital World Investors lifted its holdings in shares of Synopsys by 12.5% during the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock valued at $4,211,892,000 after purchasing an additional 818,485 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Synopsys by 39.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock valued at $3,050,441,000 after buying an additional 1,514,449 shares during the last quarter. GQG Partners LLC increased its holdings in Synopsys by 91.6% in the 1st quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock worth $1,197,350,000 after buying an additional 1,001,371 shares in the last quarter. Finally, Swedbank AB raised its position in Synopsys by 1.4% in the 2nd quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock worth $1,110,461,000 after buying an additional 25,999 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Up 0.7 %

NASDAQ:SNPS traded up $3.71 during mid-day trading on Friday, hitting $499.12. 637,006 shares of the company traded hands, compared to its average volume of 1,080,802. The stock’s fifty day moving average price is $512.11 and its 200-day moving average price is $552.38. The firm has a market cap of $76.47 billion, a price-to-earnings ratio of 54.25, a price-to-earnings-growth ratio of 3.39 and a beta of 1.08. Synopsys, Inc. has a one year low of $448.91 and a one year high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the company posted $2.17 EPS. The firm’s revenue was up 12.7% on a year-over-year basis. Equities analysts predict that Synopsys, Inc. will post 9.45 EPS for the current year.

Analyst Upgrades and Downgrades

SNPS has been the topic of a number of recent analyst reports. 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 report on Thursday, August 22nd. KeyCorp raised their target price on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Rosenblatt Securities reiterated a “buy” rating and set a $635.00 target price on shares of Synopsys in a research note on Friday, August 23rd. JPMorgan Chase & Co. raised their price target on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Finally, Piper Sandler reiterated an “overweight” rating and set a $687.00 price objective on shares of Synopsys in a research report on Thursday, August 22nd. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $638.00.

Insiders Place Their Bets

In other news, insider Geus Aart De sold 8,648 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $620.29, for a total value of $5,364,267.92. Following the transaction, the insider now directly owns 106,983 shares in the company, valued at $66,360,485.07. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of Synopsys 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 sale, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Geus Aart De sold 8,648 shares of the business’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $620.29, for a total transaction of $5,364,267.92. Following the completion of the sale, the insider now owns 106,983 shares in the company, valued at approximately $66,360,485.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,882 shares of company stock worth $14,754,349. Corporate insiders own 0.66% of the company’s stock.

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.