Biltmore Wealth Management LLC reduced its position in Synopsys, Inc. (NASDAQ:SNPS) by 8.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,279 shares of the semiconductor company’s stock after selling 319 shares during the period. Synopsys accounts for about 0.4% of Biltmore Wealth Management LLC’s portfolio, making the stock its 17th largest position. Biltmore Wealth Management LLC’s holdings in Synopsys were worth $639,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Independent Advisor Alliance raised its position in shares of Synopsys by 88.3% in the 2nd quarter. Independent Advisor Alliance now owns 3,451 shares of the semiconductor company’s stock valued at $673,000 after purchasing an additional 1,618 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Synopsys by 16.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 162,887 shares of the semiconductor company’s stock worth $20,978,000 after buying an additional 23,297 shares during the last quarter. Newbrook Capital Advisors LP purchased a new position in Synopsys during the 1st quarter worth approximately $77,863,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in Synopsys by 8.7% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 939,231 shares of the semiconductor company’s stock worth $183,150,000 after buying an additional 74,968 shares during the last quarter. Finally, Clarius Group LLC purchased a new position in Synopsys during the 2nd quarter worth approximately $258,000. Institutional investors and hedge funds own 88.30% of the company’s stock.
A number of equities analysts have issued reports on SNPS shares. DA Davidson raised their price target on shares of Synopsys from $200.00 to $230.00 in a research report on Thursday, August 20th. BidaskClub raised shares of Synopsys from a “hold” rating to a “buy” rating in a research report on Wednesday. Wells Fargo & Company raised their price target on shares of Synopsys from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, August 20th. Credit Suisse Group raised their price target on shares of Synopsys from $180.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, August 20th. Finally, Royal Bank of Canada lifted their target price on shares of Synopsys from $228.00 to $245.00 and gave the company an “outperform” rating in a report on Friday, October 9th. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. Synopsys has a consensus rating of “Buy” and a consensus target price of $210.86.
Synopsys stock opened at $226.48 on Friday. The company’s fifty day moving average price is $212.07 and its 200 day moving average price is $185.84. Synopsys, Inc. has a 1 year low of $104.90 and a 1 year high of $232.74. The stock has a market capitalization of $34.37 billion, a P/E ratio of 56.06, a P/E/G ratio of 3.11 and a beta of 1.15. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.99 and a current ratio of 1.06.
Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, August 19th. The semiconductor company reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.40. Synopsys had a net margin of 17.88% and a return on equity of 14.66%. The firm had revenue of $964.10 million for the quarter, compared to analysts’ expectations of $894.23 million. During the same quarter last year, the company earned $1.18 EPS. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. Sell-side analysts predict that Synopsys, Inc. will post 4.16 EPS for the current year.
Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits (ICs). It offers Fusion Design Platform, a digital design implementation solution; Verification Continuum Platform, which provides 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.
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