Synopsys, Inc. (NASDAQ:SNPS) Holdings Cut by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise decreased its stake in Synopsys, Inc. (NASDAQ:SNPS) by 59.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,311 shares of the semiconductor company’s stock after selling 4,921 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Synopsys were worth $1,677,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SNPS. Princeton Capital Management LLC increased its stake in shares of Synopsys by 79.4% during the 3rd quarter. Princeton Capital Management LLC now owns 854 shares of the semiconductor company’s stock worth $432,000 after purchasing an additional 378 shares during the last quarter. Meeder Asset Management Inc. increased its stake in shares of Synopsys by 44.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 114 shares of the semiconductor company’s stock worth $58,000 after purchasing an additional 35 shares during the last quarter. Pathstone Holdings LLC increased its stake in shares of Synopsys by 6.9% during the 3rd quarter. Pathstone Holdings LLC now owns 19,078 shares of the semiconductor company’s stock worth $9,661,000 after purchasing an additional 1,225 shares during the last quarter. Meeder Advisory Services Inc. increased its stake in shares of Synopsys by 14.8% during the 3rd quarter. Meeder Advisory Services Inc. now owns 4,890 shares of the semiconductor company’s stock worth $2,476,000 after purchasing an additional 632 shares during the last quarter. Finally, Strengthening Families & Communities LLC increased its stake in shares of Synopsys by 7.9% during the 3rd quarter. Strengthening Families & Communities LLC now owns 6,445 shares of the semiconductor company’s stock worth $3,264,000 after purchasing an additional 474 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Transactions at Synopsys

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 directly owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. This trade represents a 14.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.66% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SNPS has been the topic of a number of research analyst reports. Robert W. Baird raised their target price on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research note on Tuesday, October 22nd. Loop Capital initiated coverage on shares of Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 target price on the stock. JPMorgan Chase & Co. raised their target price on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Berenberg Bank initiated coverage on shares of Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price on the stock. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $649.82.

Synopsys Stock Performance

NASDAQ:SNPS opened at $541.56 on Thursday. The company has a 50-day moving average of $517.91 and a 200-day moving average of $545.47. The company has a market capitalization of $83.19 billion, a price-to-earnings ratio of 56.18, a PEG ratio of 3.18 and a beta of 1.08. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38.

Synopsys (NASDAQ:SNPS) last released 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 during the quarter, compared to the consensus estimate of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period last year, the firm earned $2.17 EPS. Sell-side analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current year.

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.