USA Financial Portformulas Corp Trims Holdings in Synopsys, Inc. (SNPS)
USA Financial Portformulas Corp reduced its stake in Synopsys, Inc. (NASDAQ:SNPS) by 93.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,385 shares of the semiconductor company’s stock after selling 47,873 shares during the period. USA Financial Portformulas Corp’s holdings in Synopsys were worth $273,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in SNPS. Bronfman E.L. Rothschild L.P. increased its holdings in Synopsys by 11.9% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,382 shares of the semiconductor company’s stock valued at $101,000 after acquiring an additional 147 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Synopsys by 40.4% in the 2nd quarter. IFP Advisors Inc now owns 1,441 shares of the semiconductor company’s stock worth $105,000 after buying an additional 415 shares during the last quarter. YorkBridge Wealth Partners LLC increased its holdings in shares of Synopsys by 3.7% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,542 shares of the semiconductor company’s stock worth $111,000 after buying an additional 55 shares during the last quarter. Advisor Group Inc. increased its holdings in shares of Synopsys by 14.3% in the 2nd quarter. Advisor Group Inc. now owns 2,617 shares of the semiconductor company’s stock worth $190,000 after buying an additional 327 shares during the last quarter. Finally, Coldstream Capital Management Inc. bought a new stake in shares of Synopsys in the 2nd quarter worth about $200,000. Institutional investors own 89.52% of the company’s stock.
A number of analysts have recently weighed in on the stock. Royal Bank Of Canada boosted their target price on shares of Synopsys from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, August 17th. Zacks Investment Research upgraded shares of Synopsys from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a report on Monday, August 21st. BidaskClub upgraded shares of Synopsys from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 17th. Needham & Company LLC reiterated a “buy” rating and set a $83.00 price target (up from $77.00) on shares of Synopsys in a report on Thursday, August 17th. Finally, Credit Suisse Group reiterated a “positive” rating and set a $90.00 price target (up from $82.00) on shares of Synopsys in a report on Tuesday, August 15th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $85.25.
Shares of Synopsys, Inc. (NASDAQ:SNPS) opened at $87.28 on Friday. The stock has a market cap of $13,056.53, a PE ratio of 34.90, a price-to-earnings-growth ratio of 3.95 and a beta of 1.00. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.07 and a quick ratio of 1.07. Synopsys, Inc. has a 52-week low of $56.03 and a 52-week high of $87.91.
Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, August 16th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.92. The company had revenue of $695.40 million during the quarter, compared to analysts’ expectations of $691.22 million. Synopsys had a net margin of 12.37% and a return on equity of 11.60%. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.76 EPS. equities research analysts anticipate that Synopsys, Inc. will post 1.93 earnings per share for the current year.
In other news, CEO Chi-Foon Chan sold 3,750 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $77.50, for a total value of $290,625.00. Following the completion of the sale, the chief executive officer now owns 200,429 shares of the company’s stock, valued at approximately $15,533,247.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph W. Logan sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $76.99, for a total transaction of $384,950.00. Following the completion of the sale, the executive vice president now directly owns 63,793 shares of the company’s stock, valued at approximately $4,911,423.07. The disclosure for this sale can be found here. 1.82% of the stock is currently owned by corporate insiders.
Synopsys, Inc provides software, intellectual property (IP) and services. The Company supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits, also known as chips. It also offers IP products, which are pre-designed circuits that engineers use as components of larger chip designs rather than designing those circuits themselves.
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