Tobam Sells 75 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Tobam decreased its stake in Synopsys, Inc. (NASDAQ:SNPS) by 25.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 219 shares of the semiconductor company’s stock after selling 75 shares during the quarter. Tobam’s holdings in Synopsys were worth $111,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Strategic Advisors LLC increased its holdings in Synopsys by 84.6% in the 3rd quarter. Strategic Advisors LLC now owns 3,390 shares of the semiconductor company’s stock worth $1,717,000 after acquiring an additional 1,554 shares in the last quarter. Sendero Wealth Management LLC bought a new stake in shares of Synopsys during the 3rd quarter valued at $1,357,000. Modus Advisors LLC lifted its stake in shares of Synopsys by 3.1% during the 3rd quarter. Modus Advisors LLC now owns 1,031 shares of the semiconductor company’s stock valued at $522,000 after buying an additional 31 shares in the last quarter. Clarus Wealth Advisors boosted its stake in shares of Synopsys by 13.1% in the third quarter. Clarus Wealth Advisors now owns 1,212 shares of the semiconductor company’s stock worth $600,000 after acquiring an additional 140 shares during the period. Finally, Strategic Wealth Partners Ltd. boosted its stake in Synopsys by 8.8% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 1,587 shares of the semiconductor company’s stock worth $804,000 after purchasing an additional 128 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Trading Up 0.8 %

Shares of NASDAQ SNPS opened at $533.08 on Friday. The stock has a market capitalization of $81.89 billion, a PE ratio of 55.30, a price-to-earnings-growth ratio of 3.49 and a beta of 1.08. Synopsys, Inc. has a 12-month low of $448.91 and a 12-month high of $629.38. The stock’s fifty day simple moving average is $510.31 and its two-hundred day simple moving average is $550.44.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data 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. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the firm earned $2.17 EPS. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, equities analysts predict that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction that occurred 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 transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other 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 value 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 $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 stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $620.60, for a total value of $305,955.80. Following the sale, the insider now directly owns 106,983 shares in the company, valued at $66,393,649.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SNPS. JPMorgan Chase & Co. boosted their price target on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Piper Sandler reissued an “overweight” rating and set a $687.00 price target on shares of Synopsys in a research note on Thursday, August 22nd. Robert W. Baird raised their price target on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 price objective on shares of Synopsys in a report on Friday, August 23rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $640.00 target price on shares of Synopsys in a report on Thursday, August 22nd. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $642.22.

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.