Park Place Capital Corp Cuts Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Park Place Capital Corp lessened its stake in Synopsys, Inc. (NASDAQ:SNPS) by 12.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158 shares of the semiconductor company’s stock after selling 22 shares during the period. Park Place Capital Corp’s holdings in Synopsys were worth $80,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in SNPS. Swedbank AB purchased a new stake in shares of Synopsys in the 1st quarter valued at $1,051,637,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Synopsys by 39.6% in the 1st 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 purchasing an additional 1,514,449 shares in the last quarter. GQG Partners LLC boosted its stake in shares of Synopsys by 91.6% in the 1st quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock valued at $1,197,350,000 after purchasing an additional 1,001,371 shares in the last quarter. Sustainable Growth Advisers LP purchased a new stake in shares of Synopsys in the 2nd quarter valued at $572,050,000. Finally, Capital World Investors boosted its stake in shares of Synopsys by 12.5% in the 1st 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. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

NASDAQ:SNPS opened at $517.76 on Wednesday. The firm’s 50-day moving average price is $511.05 and its 200-day moving average price is $551.13. The company has a market capitalization of $79.33 billion, a PE ratio of 56.28, a P/E/G ratio of 3.28 and a beta of 1.08. Synopsys, Inc. has a 1-year low of $448.91 and a 1-year high of $629.38.

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

Analyst Ratings Changes

SNPS has been the subject of a number of research reports. KeyCorp upped their price objective on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Piper Sandler reiterated an “overweight” rating and set a $687.00 price target on shares of Synopsys in a report on Thursday, August 22nd. Needham & Company LLC reiterated a “buy” rating and set a $640.00 price target on shares of Synopsys in a report on Thursday, August 22nd. Robert W. Baird upped 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. Finally, JPMorgan Chase & Co. upped 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. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $638.00.

Insider Activity at Synopsys

In related news, insider Geus Aart De sold 493 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $620.60, for a total transaction of $305,955.80. Following the sale, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $66,393,649.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction dated 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 owns 62,568 shares of the company’s stock, valued at $34,655,789.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Geus Aart De sold 493 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $620.60, for a total transaction of $305,955.80. Following the sale, the insider now directly owns 106,983 shares in the company, valued at approximately $66,393,649.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

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.