Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Sycomore Asset Management

Sycomore Asset Management trimmed its stake in Synopsys, Inc. (NASDAQ:SNPS) by 20.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,137 shares of the semiconductor company’s stock after selling 3,611 shares during the quarter. Sycomore Asset Management’s holdings in Synopsys were worth $7,286,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Tokio Marine Asset Management Co. Ltd. grew its stake in Synopsys by 0.9% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,341 shares of the semiconductor company’s stock valued at $2,198,000 after purchasing an additional 37 shares in the last quarter. Metis Global Partners LLC boosted its stake in shares of Synopsys by 3.4% during the 3rd quarter. Metis Global Partners LLC now owns 7,745 shares of the semiconductor company’s stock worth $3,922,000 after acquiring an additional 256 shares in the last quarter. Curi RMB Capital LLC boosted its stake in shares of Synopsys by 1.2% during the 3rd quarter. Curi RMB Capital LLC now owns 89,641 shares of the semiconductor company’s stock worth $45,393,000 after acquiring an additional 1,094 shares in the last quarter. Bouvel Investment Partners LLC boosted its stake in shares of Synopsys by 0.8% during the 3rd quarter. Bouvel Investment Partners LLC now owns 7,865 shares of the semiconductor company’s stock worth $3,983,000 after acquiring an additional 63 shares in the last quarter. Finally, ROI Financial Advisors LLC bought a new stake in shares of Synopsys during the 3rd quarter worth about $330,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Stock Performance

NASDAQ SNPS traded down $4.54 during trading hours on Thursday, reaching $553.42. The company’s stock had a trading volume of 249,748 shares, compared to its average volume of 1,057,863. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The company’s 50-day moving average is $511.56 and its two-hundred day moving average is $545.39. The stock has a market cap of $85.01 billion, a PE ratio of 57.57, a PEG ratio of 3.37 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (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 during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the company posted $2.17 earnings per share. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. Equities analysts expect that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the company’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 in the company, valued at $34,655,789.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Piper Sandler cut their price objective on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Loop Capital assumed coverage on Synopsys in a research note on Monday. They issued a “buy” rating and a $675.00 target price for the company. Berenberg Bank assumed coverage on Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 target price on the stock. Rosenblatt Securities reissued a “buy” rating and set a $635.00 price target on shares of Synopsys in a research report on Friday, August 23rd. Finally, Robert W. Baird lifted their price target on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $649.82.

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.