STF Management LP Sells 216 Shares of Synopsys, Inc. (NASDAQ:SNPS)

STF Management LP decreased its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 8.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,211 shares of the semiconductor company’s stock after selling 216 shares during the quarter. STF Management LP’s holdings in Synopsys were worth $1,120,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Davidson Capital Management Inc. boosted its holdings in shares of Synopsys by 33,828.6% during the 3rd quarter. Davidson Capital Management Inc. now owns 4,750 shares of the semiconductor company’s stock valued at $2,405,000 after acquiring an additional 4,736 shares in the last quarter. Harvest Portfolios Group Inc. boosted its holdings in shares of Synopsys by 3.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 42,121 shares of the semiconductor company’s stock valued at $21,330,000 after acquiring an additional 1,496 shares in the last quarter. Parnassus Investments LLC acquired a new position in Synopsys during the 3rd quarter worth about $633,469,000. Swiss National Bank lifted its holdings in Synopsys by 0.7% during the 3rd quarter. Swiss National Bank now owns 454,800 shares of the semiconductor company’s stock worth $230,306,000 after buying an additional 3,200 shares during the period. Finally, Jacobs & Co. CA acquired a new position in Synopsys during the 3rd quarter worth about $10,554,000. Institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of Synopsys stock opened at $557.73 on Friday. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The firm has a market capitalization of $85.67 billion, a price-to-earnings ratio of 57.86, a PEG ratio of 3.26 and a beta of 1.08. The business has a 50-day simple moving average of $519.28 and a 200 day simple moving average of $545.55.

Synopsys (NASDAQ:SNPS) last issued 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 firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.17 EPS. On average, sell-side analysts expect that Synopsys, Inc. will post 9.45 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SNPS. Berenberg Bank began 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 reaffirmed a “buy” rating and set a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. JPMorgan Chase & Co. lifted their target price on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Piper Sandler cut their target price on Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, Robert W. Baird boosted their price objective on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $644.36.

Synopsys 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.