Westover Capital Advisors LLC Sells 113 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Westover Capital Advisors LLC cut its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 3.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,556 shares of the semiconductor company’s stock after selling 113 shares during the period. Westover Capital Advisors LLC’s holdings in Synopsys were worth $2,116,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. 9258 Wealth Management LLC boosted its holdings in shares of Synopsys by 1.1% in the fourth quarter. 9258 Wealth Management LLC now owns 2,908 shares of the semiconductor company’s stock valued at $1,497,000 after buying an additional 32 shares during the period. Avantax Advisory Services Inc. boosted its stake in Synopsys by 5.4% in the 4th quarter. Avantax Advisory Services Inc. now owns 3,640 shares of the semiconductor company’s stock worth $1,875,000 after purchasing an additional 186 shares during the period. Janney Montgomery Scott LLC increased its holdings in Synopsys by 105.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 16,858 shares of the semiconductor company’s stock worth $8,680,000 after purchasing an additional 8,634 shares in the last quarter. Foundations Investment Advisors LLC raised its stake in shares of Synopsys by 21.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 1,389 shares of the semiconductor company’s stock valued at $750,000 after purchasing an additional 241 shares during the period. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Synopsys by 12.7% in the fourth quarter. Quadrant Capital Group LLC now owns 1,792 shares of the semiconductor company’s stock valued at $923,000 after purchasing an additional 202 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Stock Performance

Shares of Synopsys stock opened at $490.07 on Friday. Synopsys, Inc. has a 52-week low of $440.62 and a 52-week high of $629.38. The stock has a market cap of $75.28 billion, a PE ratio of 53.27, a PEG ratio of 3.18 and a beta of 1.08. The firm has a 50-day moving average of $536.92 and a 200-day moving average of $559.39.

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

Insiders Place Their Bets

In other news, insider Geus Aart De sold 493 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $620.60, for a total transaction of $305,955.80. Following the completion of the transaction, the insider now owns 106,983 shares of the company’s stock, valued at approximately $66,393,649.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Geus Aart De sold 493 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $620.60, for a total value of $305,955.80. Following the completion of the transaction, the insider now directly owns 106,983 shares in the company, valued at approximately $66,393,649.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The disclosure for this sale can be found here. Insiders have sold 73,687 shares of company stock worth $44,616,637 over the last ninety days. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of recent research reports. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research report on Friday, August 23rd. Piper Sandler reissued an “overweight” rating and issued a $687.00 price objective on shares of Synopsys in a research report on Thursday, August 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research report on Thursday, August 22nd. KeyCorp boosted their price target on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Eleven investment 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 $630.09.

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.