LGT Financial Advisors LLC Sells 57 Shares of Synopsys, Inc. (NASDAQ:SNPS)

LGT Financial Advisors LLC reduced its stake in Synopsys, Inc. (NASDAQ:SNPS) by 50.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57 shares of the semiconductor company’s stock after selling 57 shares during the period. LGT Financial Advisors LLC’s holdings in Synopsys were worth $29,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SNPS. Swedbank AB purchased a new position in Synopsys during the 1st quarter valued at about $1,051,637,000. Price T Rowe Associates Inc. MD grew its stake in 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 acquiring an additional 1,514,449 shares in the last quarter. GQG Partners LLC grew its stake in Synopsys by 91.6% during the first quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock valued at $1,197,350,000 after acquiring an additional 1,001,371 shares in the last quarter. Sustainable Growth Advisers LP purchased a new stake in Synopsys in the 2nd quarter worth approximately $572,050,000. Finally, Capital World Investors boosted its holdings in 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 during the period. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Trading Up 3.7 %

SNPS opened at $573.59 on Friday. The company has a market cap of $88.11 billion, a price-to-earnings ratio of 59.51, a price-to-earnings-growth ratio of 3.20 and a beta of 1.08. The stock has a fifty day simple moving average of $505.80 and a two-hundred day simple moving average of $544.28. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results 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. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. Synopsys’s revenue was up 12.7% on a year-over-year basis. During the same period last year, the company posted $2.17 EPS. On average, analysts predict that Synopsys, Inc. will post 9.45 EPS for the current year.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SNPS shares. JPMorgan Chase & Co. upped their price target on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Mizuho started coverage on Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target on the stock. Piper Sandler cut their price objective on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research note on Friday, August 23rd. Finally, Berenberg Bank assumed coverage on shares of Synopsys in a research report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price for the company. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $643.00.

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.