Nicholas Investment Partners LP lessened its position in Synopsys, Inc. (NASDAQ:SNPS) by 22.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,344 shares of the semiconductor company’s stock after selling 9,680 shares during the period. Nicholas Investment Partners LP’s holdings in Synopsys were worth $2,685,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of SNPS. Bronfman E.L. Rothschild L.P. increased its position in shares of Synopsys by 11.9% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,382 shares of the semiconductor company’s stock worth $101,000 after acquiring an additional 147 shares in the last quarter. IFP Advisors Inc increased its position in shares of Synopsys by 40.4% during the second quarter. IFP Advisors Inc now owns 1,441 shares of the semiconductor company’s stock worth $105,000 after acquiring an additional 415 shares in the last quarter. YorkBridge Wealth Partners LLC increased its position in shares of Synopsys by 3.7% during the second quarter. YorkBridge Wealth Partners LLC now owns 1,542 shares of the semiconductor company’s stock worth $111,000 after acquiring an additional 55 shares in the last quarter. Advisor Group Inc. increased its position in shares of Synopsys by 14.3% during the second quarter. Advisor Group Inc. now owns 2,617 shares of the semiconductor company’s stock worth $190,000 after acquiring an additional 327 shares in the last quarter. Finally, Lakeview Capital Partners LLC bought a new stake in shares of Synopsys during the third quarter worth $215,000. 89.94% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently issued reports on SNPS. Royal Bank Of Canada raised shares of Synopsys from an “outperform” rating to a “top pick” rating and increased their price objective for the stock from $90.00 to $100.00 in a research report on Wednesday, October 25th. Zacks Investment Research upgraded shares of Synopsys from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a report on Monday, August 21st. Needham & Company LLC increased their target price on shares of Synopsys from $83.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, November 30th. Credit Suisse Group restated a “positive” rating and set a $90.00 target price (up previously from $82.00) on shares of Synopsys in a report on Tuesday, August 15th. Finally, BidaskClub upgraded shares of Synopsys from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $98.13.
Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, November 29th. The semiconductor company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.12. The firm had revenue of $696.60 million during the quarter, compared to analysts’ expectations of $650.72 million. Synopsys had a net margin of 5.01% and a return on equity of 5.78%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.77 earnings per share. analysts forecast that Synopsys, Inc. will post 2.41 EPS for the current fiscal year.
In other Synopsys news, EVP Joseph W. Logan sold 5,000 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $90.33, for a total value of $451,650.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Chi-Foon Chan sold 3,750 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $89.78, for a total transaction of $336,675.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,824 shares of company stock valued at $2,680,349. Corporate insiders own 1.82% of the company’s stock.
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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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