Chartwell Investment Partners LLC Reduces Stake in Synopsys, Inc. (NASDAQ:SNPS)

Chartwell Investment Partners LLC lowered its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,259 shares of the semiconductor company’s stock after selling 395 shares during the period. Chartwell Investment Partners LLC’s holdings in Synopsys were worth $13,804,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Andina Capital Management LLC raised its position in shares of Synopsys by 2.8% in the second quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock valued at $395,000 after buying an additional 18 shares during the last quarter. Cascade Financial Partners LLC raised its holdings in Synopsys by 4.9% in the 2nd quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock valued at $232,000 after acquiring an additional 18 shares during the last quarter. Tocqueville Asset Management L.P. lifted its stake in shares of Synopsys by 0.9% during the 1st quarter. Tocqueville Asset Management L.P. now owns 2,134 shares of the semiconductor company’s stock worth $1,220,000 after purchasing an additional 20 shares during the period. Hazlett Burt & Watson Inc. grew its position in shares of Synopsys by 40.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares during the period. Finally, Hilltop National Bank lifted its position in Synopsys by 6.0% during the second quarter. Hilltop National Bank now owns 370 shares of the semiconductor company’s stock worth $220,000 after buying an additional 21 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Stock Down 2.1 %

Shares of NASDAQ:SNPS opened at $561.55 on Monday. The company has a 50 day moving average of $507.77 and a two-hundred day moving average of $544.93. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The company has a market capitalization of $86.26 billion, a price-to-earnings ratio of 58.25, a price-to-earnings-growth ratio of 3.42 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, topping the consensus estimate of $3.28 by $0.15. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The company’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.17 earnings per share. On average, equities analysts anticipate that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on the company. Needham & Company LLC restated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a report on Tuesday, October 22nd. Berenberg Bank started coverage on shares of Synopsys in a report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price for the company. Mizuho initiated coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target on the stock. JPMorgan Chase & Co. lifted their target price on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, Robert W. Baird raised 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. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $647.30.

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is currently owned by insiders.

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.