Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Hexagon Capital Partners LLC

Hexagon Capital Partners LLC lowered its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 5.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 429 shares of the semiconductor company’s stock after selling 26 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Synopsys were worth $217,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Kingsview Wealth Management LLC purchased a new stake in shares of Synopsys in the 1st quarter valued at approximately $239,000. Concurrent Investment Advisors LLC bought a new position in Synopsys in the 1st quarter worth $218,000. Vanguard Group Inc. lifted its position in Synopsys by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 13,551,092 shares of the semiconductor company’s stock worth $6,977,593,000 after acquiring an additional 203,601 shares during the last quarter. Jacobs & Co. CA acquired a new position in shares of Synopsys during the 3rd quarter worth about $10,554,000. Finally, Axxcess Wealth Management LLC lifted its holdings in shares of Synopsys by 44.9% during the first quarter. Axxcess Wealth Management LLC now owns 4,030 shares of the semiconductor company’s stock worth $2,303,000 after buying an additional 1,249 shares during the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Sassine Ghazi sold 10,293 shares of the 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 sale, the chief executive officer now owns 62,568 shares in the company, valued at approximately $34,655,789.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Geus Aart De sold 493 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $620.60, for a total transaction of $305,955.80. Following the sale, the insider now owns 106,983 shares of the company’s stock, valued at approximately $66,393,649.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SNPS shares. Rosenblatt Securities restated a “buy” rating and set a $635.00 price objective on shares of Synopsys in a report on Friday, August 23rd. Robert W. Baird lifted their price objective on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $687.00 target price on shares of Synopsys in a report on Thursday, August 22nd. KeyCorp lifted their target price on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Finally, Needham & Company LLC restated a “buy” rating and set a $640.00 price target on shares of Synopsys in a research report on Thursday, August 22nd. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $642.22.

Synopsys Trading Up 0.8 %

SNPS stock opened at $533.08 on Friday. Synopsys, Inc. has a 1-year low of $448.91 and a 1-year high of $629.38. The business’s 50-day moving average price is $510.31 and its two-hundred day moving average price is $550.44. The firm has a market cap of $81.89 billion, a PE ratio of 55.30, a P/E/G ratio of 3.49 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share 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 firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the business earned $2.17 EPS. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, analysts forecast 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.