1832 Asset Management L.P. Lowers Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

1832 Asset Management L.P. lessened its stake in Synopsys, Inc. (NASDAQ:SNPS) by 83.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,000 shares of the semiconductor company’s stock after selling 34,911 shares during the period. 1832 Asset Management L.P.’s holdings in Synopsys were worth $4,165,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SNPS. Andina Capital Management LLC lifted its position in Synopsys by 2.8% in the 2nd quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock worth $395,000 after buying an additional 18 shares during the last quarter. Cascade Financial Partners LLC boosted its stake in shares of Synopsys by 4.9% in the 2nd quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock valued at $232,000 after purchasing an additional 18 shares in the last quarter. Hazlett Burt & Watson Inc. grew its holdings in shares of Synopsys by 40.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 20 shares during the last quarter. Ignite Planners LLC raised its position in Synopsys by 3.5% in the 1st quarter. Ignite Planners LLC now owns 596 shares of the semiconductor company’s stock worth $344,000 after purchasing an additional 20 shares during the period. Finally, Monument Capital Management lifted its stake in Synopsys by 1.1% in the first quarter. Monument Capital Management now owns 1,880 shares of the semiconductor company’s stock worth $1,074,000 after purchasing an additional 20 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Insider Buying and Selling

In other Synopsys news, insider Geus Aart De sold 27,753 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $618.58, for a total transaction of $17,167,450.74. Following the completion of the transaction, the insider now owns 106,983 shares of the company’s stock, valued at $66,177,544.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Geus Aart De sold 27,753 shares of Synopsys stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $618.58, for a total value of $17,167,450.74. Following the completion of the transaction, the insider now owns 106,983 shares of the company’s stock, valued at approximately $66,177,544.14. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction 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. The disclosure for this sale can be found here. Insiders have sold 69,475 shares of company stock valued at $42,089,227 over the last quarter. Corporate insiders own 0.66% of the company’s stock.

Synopsys Price Performance

SNPS stock opened at $506.83 on Wednesday. Synopsys, Inc. has a 1 year low of $440.62 and a 1 year high of $629.38. The firm has a 50-day moving average of $521.63 and a 200 day moving average of $555.52. The company has a market cap of $77.85 billion, a P/E ratio of 55.09, a PEG ratio of 3.34 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 (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the company earned $2.17 EPS. The business’s revenue was up 12.7% compared to the same quarter last year. On average, equities research analysts expect that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research note on Thursday, August 22nd. KeyCorp lifted their price target on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. JPMorgan Chase & Co. increased their price objective on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research note on Friday, August 23rd. Finally, Robert W. Baird increased their price target on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $630.09.

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.