Private Advisor Group LLC Sells 736 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Private Advisor Group LLC reduced its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 14.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,478 shares of the semiconductor company’s stock after selling 736 shares during the period. Private Advisor Group LLC’s holdings in Synopsys were worth $2,267,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. ORG Partners LLC raised its position in Synopsys by 600.0% in the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 36 shares during the period. Chris Bulman Inc bought a new stake in Synopsys in the second quarter worth about $30,000. Pacifica Partners Inc. bought a new stake in Synopsys in the third quarter worth about $25,000. Tsfg LLC raised its position in Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 24 shares during the period. Finally, Fortitude Family Office LLC raised its position in Synopsys by 66.7% in the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 24 shares during the period. 85.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on SNPS shares. Mizuho started coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research report on Tuesday, October 22nd. Piper Sandler lowered their price target on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Robert W. Baird boosted their price target on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $643.00.

Synopsys Trading Up 6.7 %

Shares of NASDAQ:SNPS opened at $529.21 on Wednesday. The company has a 50 day moving average of $506.64 and a 200 day moving average of $544.42. The stock has a market cap of $81.29 billion, a P/E ratio of 54.90, a P/E/G ratio of 3.52 and a beta of 1.08. Synopsys, Inc. has a 12 month low of $455.00 and a 12 month high of $629.38.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 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 business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the company earned $2.17 EPS. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, equities analysts forecast that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.66% of the company’s stock.

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.