Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Geneva Partners LLC

Geneva Partners LLC cut its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 72.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 700 shares of the semiconductor company’s stock after selling 1,818 shares during the period. Geneva Partners LLC’s holdings in Synopsys were worth $354,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Norden Group LLC lifted its holdings in Synopsys by 24.3% in the first quarter. Norden Group LLC now owns 567 shares of the semiconductor company’s stock worth $324,000 after acquiring an additional 111 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Synopsys by 21.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 20,411 shares of the semiconductor company’s stock worth $11,665,000 after purchasing an additional 3,553 shares during the period. Jennison Associates LLC lifted its holdings in shares of Synopsys by 33.2% in the 1st quarter. Jennison Associates LLC now owns 9,551 shares of the semiconductor company’s stock worth $5,458,000 after purchasing an additional 2,379 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in Synopsys during the 1st quarter valued at approximately $438,000. Finally, Larson Financial Group LLC boosted its position in Synopsys by 200.0% during the 1st quarter. Larson Financial Group LLC now owns 375 shares of the semiconductor company’s stock valued at $214,000 after purchasing an additional 250 shares during the period. Institutional investors own 85.47% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SNPS shares. Robert W. Baird raised their target price on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. 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 report on Thursday, August 22nd. Berenberg Bank started coverage on shares of Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 target price for the company. Needham & Company LLC restated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Tuesday, October 22nd. Finally, Mizuho started coverage on Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price objective for the company. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $643.00.

Synopsys Price Performance

NASDAQ SNPS opened at $524.52 on Tuesday. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The firm has a market capitalization of $80.57 billion, a PE ratio of 54.41, a P/E/G ratio of 3.16 and a beta of 1.08. The company’s 50 day simple moving average is $504.93 and its 200 day simple moving average is $544.14.

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

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the completion of the transaction, the chief executive officer now owns 62,568 shares in the company, valued at approximately $34,655,789.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.66% of the stock is owned by company 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.