Silver Oak Securities Incorporated trimmed its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS – Free Report) by 93.9% during the third quarter, Holdings Channel reports. The fund owned 85 shares of the semiconductor company’s stock after selling 1,299 shares during the quarter. Silver Oak Securities Incorporated’s holdings in Synopsys were worth $39,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the business. Cibc World Market Inc. boosted its stake in shares of Synopsys by 58.8% during the 1st quarter. Cibc World Market Inc. now owns 11,893 shares of the semiconductor company’s stock valued at $3,964,000 after buying an additional 4,402 shares during the last quarter. Prudential PLC bought a new position in Synopsys during the 1st quarter valued at $993,000. Sequoia Financial Advisors LLC acquired a new position in Synopsys during the 1st quarter worth $240,000. Covestor Ltd increased its position in shares of Synopsys by 18.9% in the 1st quarter. Covestor Ltd now owns 271 shares of the semiconductor company’s stock worth $90,000 after purchasing an additional 43 shares during the last quarter. Finally, Mather Group LLC. raised its stake in shares of Synopsys by 64.4% in the 1st quarter. Mather Group LLC. now owns 1,680 shares of the semiconductor company’s stock valued at $560,000 after purchasing an additional 658 shares in the last quarter. Institutional investors and hedge funds own 84.12% of the company’s stock.
Insider Buying and Selling
In other news, CRO Richard S. Mahoney sold 9,065 shares of Synopsys stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $494.70, for a total value of $4,484,455.50. Following the transaction, the executive now owns 1,617 shares of the company’s stock, valued at approximately $799,929.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Mercedes Johnson sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $494.70, for a total value of $1,731,450.00. Following the completion of the sale, the director now owns 1,697 shares in the company, valued at approximately $839,505.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO Richard S. Mahoney sold 9,065 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $494.70, for a total transaction of $4,484,455.50. Following the completion of the sale, the executive now owns 1,617 shares of the company’s stock, valued at approximately $799,929.90. The disclosure for this sale can be found here. Insiders have sold a total of 36,586 shares of company stock valued at $19,868,728 over the last quarter. Corporate insiders own 0.66% of the company’s stock.
Synopsys Trading Down 0.3 %
Shares of NASDAQ SNPS opened at $559.31 on Friday. The stock has a 50 day simple moving average of $546.88 and a 200-day simple moving average of $514.08. The company has a market cap of $85.32 billion, a PE ratio of 61.60, a P/E/G ratio of 3.19 and a beta of 1.07. Synopsys, Inc. has a 12-month low of $360.36 and a 12-month high of $629.38.
Synopsys (NASDAQ:SNPS – Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $3.56 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.13. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same period last year, the company earned $1.75 earnings per share. Sell-side analysts forecast that Synopsys, Inc. will post 10.13 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
SNPS has been the subject of several research analyst reports. Wells Fargo & Company boosted their price objective on Synopsys from $620.00 to $630.00 and gave the company an “overweight” rating in a report on Wednesday, December 13th. Robert W. Baird raised their price objective on Synopsys from $624.00 to $640.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. KeyCorp boosted their target price on shares of Synopsys from $540.00 to $600.00 and gave the company an “overweight” rating in a research note on Monday, November 27th. Rosenblatt Securities raised their price target on shares of Synopsys from $570.00 to $615.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. Finally, StockNews.com downgraded shares of Synopsys from a “buy” rating to a “hold” rating in a research report on Sunday, March 10th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $594.60.
Check Out Our Latest Research Report on SNPS
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.
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