Verus Capital Partners LLC Has $292,000 Stake in Synopsys, Inc. (NASDAQ:SNPS)

Verus Capital Partners LLC lowered its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 9.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 576 shares of the semiconductor company’s stock after selling 63 shares during the quarter. Verus Capital Partners LLC’s holdings in Synopsys were worth $292,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB bought a new position in shares of Synopsys in the first quarter worth $1,051,637,000. Price T Rowe Associates Inc. MD grew its stake in Synopsys by 39.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock worth $3,050,441,000 after buying an additional 1,514,449 shares in the last quarter. GQG Partners LLC increased its holdings in Synopsys by 91.6% in the 1st quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock valued at $1,197,350,000 after buying an additional 1,001,371 shares during the period. Sustainable Growth Advisers LP acquired a new position in shares of Synopsys in the 2nd quarter valued at approximately $572,050,000. Finally, Capital World Investors raised its position in shares of Synopsys by 12.5% in the 1st quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock valued at $4,211,892,000 after buying an additional 818,485 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

Synopsys stock opened at $557.96 on Thursday. The business has a 50 day moving average of $509.95 and a 200-day moving average of $545.30. The company has a market capitalization of $85.71 billion, a P/E ratio of 57.88, a P/E/G ratio of 3.37 and a beta of 1.08. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38.

Synopsys (NASDAQ:SNPS) last issued its quarterly 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. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. Synopsys’s 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 earnings per share. Equities analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on SNPS shares. Loop Capital initiated coverage on shares of Synopsys in a research report on Monday. They set a “buy” rating and a $675.00 price target on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. Needham & Company LLC reissued a “buy” rating and set a $640.00 price target on shares of Synopsys in a report on Tuesday, October 22nd. Robert W. Baird raised 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. Finally, JPMorgan Chase & Co. boosted their target price on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Synopsys presently has a consensus rating of “Buy” and an average target price of $649.82.

Insider Activity

In related news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 62,568 shares in the company, valued at $34,655,789.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.66% of the company’s stock.

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.