L & S Advisors Inc Sells 162 Shares of Synopsys, Inc. (NASDAQ:SNPS)

L & S Advisors Inc lessened its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 4.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,160 shares of the semiconductor company’s stock after selling 162 shares during the period. L & S Advisors Inc’s holdings in Synopsys were worth $1,600,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNPS. Swedbank AB bought a new stake in shares of Synopsys in the 1st quarter worth $1,051,637,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Synopsys by 39.6% in 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 acquiring an additional 1,514,449 shares during the period. Parnassus Investments LLC purchased a new stake in Synopsys during the third quarter valued at $633,469,000. Sustainable Growth Advisers LP purchased a new stake in Synopsys during the second quarter valued at $572,050,000. Finally, Van ECK Associates Corp grew its holdings in Synopsys by 26.5% during the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after purchasing an additional 335,993 shares during the period. Institutional investors own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SNPS shares. Piper Sandler dropped 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. Berenberg Bank began coverage on Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price objective on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. Robert W. Baird increased their target price on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research report on Tuesday, October 22nd. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $649.82.

Synopsys Price Performance

Shares of SNPS stock opened at $557.73 on Friday. The firm has a market capitalization of $85.67 billion, a price-to-earnings ratio of 57.86, a price-to-earnings-growth ratio of 3.26 and a beta of 1.08. The business has a fifty day moving average of $519.28 and a 200 day moving average of $545.55. Synopsys, Inc. has a 1 year low of $457.52 and a 1 year high of $629.38.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (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 analyst estimates of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the business posted $2.17 EPS. As a group, equities research analysts expect that Synopsys, Inc. will post 9.45 earnings per share 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.