Park Place Capital Corp Sells 274 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Park Place Capital Corp reduced its position in Synopsys, Inc. (NASDAQ:SNPS) by 47.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 309 shares of the semiconductor company’s stock after selling 274 shares during the period. Park Place Capital Corp’s holdings in Synopsys were worth $177,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Talbot Financial LLC raised its stake in Synopsys by 2.7% in the 1st quarter. Talbot Financial LLC now owns 21,660 shares of the semiconductor company’s stock valued at $12,379,000 after acquiring an additional 572 shares during the period. Kowal Investment Group LLC raised its stake in Synopsys by 26.0% in the 1st quarter. Kowal Investment Group LLC now owns 581 shares of the semiconductor company’s stock valued at $332,000 after acquiring an additional 120 shares during the period. Wolff Wiese Magana LLC raised its stake in Synopsys by 19.3% in the 1st quarter. Wolff Wiese Magana LLC now owns 976 shares of the semiconductor company’s stock valued at $558,000 after acquiring an additional 158 shares during the period. Chapin Davis Inc. raised its stake in Synopsys by 7.9% in the 1st quarter. Chapin Davis Inc. now owns 1,834 shares of the semiconductor company’s stock valued at $1,048,000 after acquiring an additional 134 shares during the period. Finally, LVW Advisors LLC bought a new stake in Synopsys in the 1st quarter valued at about $218,000. 85.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. StockNews.com upgraded Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. JPMorgan Chase & Co. upped their price target on Synopsys from $650.00 to $655.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Robert W. Baird upped their price target on Synopsys from $640.00 to $645.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Rosenblatt Securities reiterated a “buy” rating and set a $615.00 price target on shares of Synopsys in a research report on Thursday, May 23rd. Finally, KeyCorp upped their price target on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $624.36.

Insider Buying and Selling

In other Synopsys news, insider John F. Runkel, Jr. sold 5,319 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the transaction, the insider now directly owns 20,000 shares in the company, valued at $11,587,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Synopsys news, insider John F. Runkel, Jr. sold 5,319 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the transaction, the insider now directly owns 20,000 shares in the company, valued at $11,587,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John F. Runkel, Jr. sold 936 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $566.97, for a total transaction of $530,683.92. Following the transaction, the insider now owns 20,000 shares in the company, valued at $11,339,400. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,658 shares of company stock worth $20,970,824. Insiders own 0.66% of the company’s stock.

Synopsys Stock Up 1.1 %

Shares of SNPS stock traded up $6.69 during trading on Monday, hitting $601.75. The company had a trading volume of 612,791 shares, compared to its average volume of 1,096,962. The stock’s 50-day moving average is $569.90 and its two-hundred day moving average is $556.31. The stock has a market capitalization of $92.20 billion, a price-to-earnings ratio of 65.41, a price-to-earnings-growth ratio of 3.84 and a beta of 1.07. Synopsys, Inc. has a 52 week low of $418.51 and a 52 week high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share for the quarter, missing the consensus estimate of $3.03 by ($0.03). The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.50 billion. Synopsys had a return on equity of 22.66% and a net margin of 23.05%. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter last year, the company posted $1.76 earnings per share. On average, research analysts predict that Synopsys, Inc. will post 9.66 EPS for the current fiscal year.

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.