Synopsys, Inc. (NASDAQ:SNPS) Stock Holdings Cut by AlphaCentric Advisors LLC

AlphaCentric Advisors LLC reduced its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 50.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,000 shares of the semiconductor company’s stock after selling 1,000 shares during the quarter. AlphaCentric Advisors LLC’s holdings in Synopsys were worth $506,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. boosted its stake in Synopsys by 40.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares in the last quarter. Impax Asset Management Group plc boosted its stake in Synopsys by 120.2% during the 3rd quarter. Impax Asset Management Group plc now owns 490,723 shares of the semiconductor company’s stock valued at $248,497,000 after purchasing an additional 267,836 shares in the last quarter. Quintet Private Bank Europe S.A. boosted its stake in Synopsys by 98,820.0% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 49,460 shares of the semiconductor company’s stock valued at $25,046,000 after purchasing an additional 49,410 shares in the last quarter. PDS Planning Inc boosted its stake in Synopsys by 2.4% during the 3rd quarter. PDS Planning Inc now owns 1,040 shares of the semiconductor company’s stock valued at $527,000 after purchasing an additional 24 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its stake in Synopsys by 0.6% during the 3rd quarter. QRG Capital Management Inc. now owns 43,739 shares of the semiconductor company’s stock valued at $22,149,000 after purchasing an additional 250 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SNPS has been the subject of several research reports. Berenberg Bank initiated coverage on Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research note on Tuesday, October 22nd. Piper Sandler reduced their price objective on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Robert W. Baird raised their price objective on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Finally, Rosenblatt Securities reissued a “buy” rating and set a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $643.00.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at $34,655,789.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.66% of the company’s stock.

Synopsys Trading Up 1.2 %

Shares of NASDAQ:SNPS opened at $524.52 on Tuesday. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38. The business has a fifty day simple moving average of $504.93 and a 200 day simple moving average of $544.14. The firm has a market cap of $80.57 billion, a price-to-earnings ratio of 54.41, a P/E/G ratio of 3.16 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.15. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the company earned $2.17 earnings per share. Synopsys’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, 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.