Plato Investment Management Ltd Sells 374 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Plato Investment Management Ltd trimmed its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 7.7% during the 3rd quarter, Holdings Channel reports. The fund owned 4,480 shares of the semiconductor company’s stock after selling 374 shares during the period. Plato Investment Management Ltd’s holdings in Synopsys were worth $2,266,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ORG Partners LLC lifted its position in Synopsys by 600.0% during the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 36 shares during the last quarter. Chris Bulman Inc purchased a new stake in shares of Synopsys during the 2nd quarter valued at about $30,000. Pacifica Partners Inc. bought a new position in shares of Synopsys in the 3rd quarter valued at about $25,000. Tsfg LLC lifted its holdings in shares of Synopsys by 75.0% in the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 24 shares during the last quarter. Finally, Fortitude Family Office LLC grew its position in Synopsys by 66.7% in the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 24 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Trading Up 0.8 %

NASDAQ SNPS opened at $557.96 on Thursday. The stock has a market cap of $85.71 billion, a PE ratio of 57.88, a PEG ratio of 3.37 and a beta of 1.08. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The company’s 50-day moving average price is $509.95 and its 200-day moving average price is $545.30.

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

Insiders Place Their Bets

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 62,568 shares in the company, valued at approximately $34,655,789.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.66% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Rosenblatt Securities restated a “buy” rating and set a $635.00 price objective on shares of Synopsys in a research report on Friday, August 23rd. Berenberg Bank started coverage on Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target on the stock. Loop Capital initiated coverage on shares of Synopsys in a research note on Monday. They set a “buy” rating and a $675.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Finally, Mizuho assumed coverage on shares of Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price for the company. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Synopsys has an average rating of “Buy” and a consensus target price of $649.82.

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.