Vestor Capital LLC Lowers Stake in Synopsys, Inc. (NASDAQ:SNPS)

Vestor Capital LLC lessened its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 99.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 115 shares of the semiconductor company’s stock after selling 13,399 shares during the quarter. Vestor Capital LLC’s holdings in Synopsys were worth $58,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. ORG Partners LLC grew its stake in shares of Synopsys by 600.0% in the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after buying an additional 36 shares during the last quarter. Pacifica Partners Inc. bought a new position in shares of Synopsys during the third quarter valued at $25,000. Tsfg LLC raised its position in shares of Synopsys by 75.0% in the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 24 shares during the last quarter. Chris Bulman Inc bought a new position in Synopsys in the 2nd quarter worth about $30,000. Finally, Fortitude Family Office LLC grew its position in Synopsys by 66.7% during the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 24 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Insiders Place Their Bets

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 transaction of $5,701,189.77. Following the transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.66% of the company’s stock.

Synopsys Stock Up 1.2 %

NASDAQ SNPS opened at $524.52 on Tuesday. The firm has a market capitalization of $80.57 billion, a P/E ratio of 54.41, a PEG ratio of 3.16 and a beta of 1.08. The company has a 50-day moving average price of $504.93 and a 200-day moving average price of $544.14. Synopsys, Inc. has a 52 week low of $457.52 and a 52 week high of $629.38.

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, beating 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 during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the firm posted $2.17 EPS. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on SNPS. Robert W. Baird lifted their target price on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Mizuho assumed coverage on shares of Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price objective for the company. Berenberg Bank assumed coverage on Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 target price on the stock. Rosenblatt Securities restated a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research note on Friday, August 23rd. Finally, Piper Sandler dropped their price objective on Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $643.00.

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.