Legacy Capital Wealth Partners LLC Sells 77 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Legacy Capital Wealth Partners LLC trimmed its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 11.4% in the third quarter, Holdings Channel reports. The fund owned 601 shares of the semiconductor company’s stock after selling 77 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Synopsys were worth $304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Swedbank AB bought a new position in Synopsys during the first quarter worth about $1,051,637,000. Price T Rowe Associates Inc. MD boosted its position in shares of 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 purchasing an additional 1,514,449 shares in the last quarter. GQG Partners LLC increased its stake 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 last quarter. Sustainable Growth Advisers LP acquired a new position in shares of Synopsys during the 2nd quarter worth about $572,050,000. Finally, Capital World Investors increased its stake in shares of Synopsys by 12.5% during the 1st quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock worth $4,211,892,000 after purchasing an additional 818,485 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction dated 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 transaction, the chief executive officer now owns 62,568 shares in the company, valued at approximately $34,655,789.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Synopsys Price Performance

NASDAQ:SNPS opened at $556.26 on Tuesday. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38. The firm has a market cap of $85.45 billion, a PE ratio of 57.70, a price-to-earnings-growth ratio of 3.42 and a beta of 1.08. The company has a 50-day moving average of $507.77 and a 200 day moving average of $545.05.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.28 by $0.15. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the firm posted $2.17 EPS. The business’s revenue was up 12.7% on a year-over-year basis. Sell-side analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Loop Capital started coverage on shares of Synopsys in a report on Monday. They set a “buy” rating and a $675.00 price target for the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. Mizuho started coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 price target on the stock. Robert W. Baird raised their price objective on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Finally, Piper Sandler reduced their target price on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $649.82.

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.