Prime Capital Investment Advisors LLC Sells 109 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Prime Capital Investment Advisors LLC lowered its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 7.0% during the third quarter, Holdings Channel reports. The firm owned 1,450 shares of the semiconductor company’s stock after selling 109 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Synopsys were worth $734,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Andina Capital Management LLC raised its holdings in Synopsys by 2.8% during the second quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock valued at $395,000 after buying an additional 18 shares in the last quarter. Cascade Financial Partners LLC lifted its holdings in Synopsys by 4.9% in the 2nd quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock worth $232,000 after purchasing an additional 18 shares during the last quarter. Tocqueville Asset Management L.P. boosted its position in Synopsys by 0.9% during the first quarter. Tocqueville Asset Management L.P. now owns 2,134 shares of the semiconductor company’s stock worth $1,220,000 after purchasing an additional 20 shares during the period. Hazlett Burt & Watson Inc. grew its holdings in Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 20 shares during the last quarter. Finally, Hilltop National Bank raised its position in shares of Synopsys by 6.0% in the second quarter. Hilltop National Bank now owns 370 shares of the semiconductor company’s stock valued at $220,000 after purchasing an additional 21 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of research analyst reports. Piper Sandler lowered their target price on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Loop Capital initiated coverage on shares of Synopsys in a research report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective for the company. Berenberg Bank began coverage on Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 target price on the stock. JPMorgan Chase & Co. upped their price target on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, Mizuho began coverage on Synopsys in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price objective for the company. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $649.82.

Synopsys Price Performance

Shares of SNPS stock opened at $520.75 on Friday. The stock’s fifty day simple moving average is $513.01 and its 200 day simple moving average is $545.41. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The firm has a market cap of $79.99 billion, a price-to-earnings ratio of 55.36, a P/E/G ratio of 3.40 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 analysts’ consensus estimates of $3.28 by $0.15. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the company posted $2.17 EPS. On average, research analysts anticipate that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The trade was a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.66% of the stock is owned by corporate insiders.

About Synopsys

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.