Yousif Capital Management LLC cut its position in shares of Synopsys, Inc. (NASDAQ:SNPS – Get Rating) by 1.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,368 shares of the semiconductor company’s stock after selling 293 shares during the quarter. Yousif Capital Management LLC’s holdings in Synopsys were worth $6,528,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Handelsbanken Fonder AB grew its holdings in shares of Synopsys by 10.0% during the second quarter. Handelsbanken Fonder AB now owns 27,732 shares of the semiconductor company’s stock worth $8,422,000 after buying an additional 2,527 shares in the last quarter. CTC Capital Management LLC bought a new position in Synopsys in the third quarter valued at approximately $1,008,000. Natixis grew its stake in Synopsys by 1,314.1% in the second quarter. Natixis now owns 12,882 shares of the semiconductor company’s stock valued at $3,912,000 after purchasing an additional 11,971 shares in the last quarter. Walleye Capital LLC bought a new position in Synopsys in the second quarter valued at approximately $2,925,000. Finally, Wipfli Financial Advisors LLC bought a new position in Synopsys in the third quarter valued at approximately $653,000. 84.68% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research analysts have weighed in on the company. Edward Jones assumed coverage on Synopsys in a research note on Wednesday, November 16th. They issued a “hold” rating for the company. Wells Fargo & Company decreased their price target on Synopsys from $425.00 to $400.00 and set an “overweight” rating for the company in a research note on Tuesday, November 22nd. StockNews.com assumed coverage on Synopsys in a research note on Wednesday, October 12th. They issued a “buy” rating for the company. Bank of America upgraded Synopsys from a “neutral” rating to a “buy” rating and set a $410.00 price target for the company in a research note on Friday, December 16th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Synopsys in a research report on Wednesday, September 28th. They issued a “buy” rating and a $420.00 price objective for the company. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Synopsys currently has an average rating of “Moderate Buy” and a consensus price target of $420.55.
Synopsys Trading Down 0.3 %
Synopsys (NASDAQ:SNPS – Get Rating) last released its quarterly earnings results on Wednesday, November 30th. The semiconductor company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.12). The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.28 billion. Synopsys had a return on equity of 17.24% and a net margin of 19.38%. As a group, sell-side analysts forecast that Synopsys, Inc. will post 7.81 EPS for the current year.
Insider Buying and Selling
In related news, COO Sassine Ghazi sold 29,136 shares of Synopsys stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $329.93, for a total transaction of $9,612,840.48. Following the completion of the sale, the chief operating officer now directly owns 52,609 shares of the company’s stock, valued at approximately $17,357,287.37. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.20% of the stock is currently owned by insiders.
Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. 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.
- Get a free copy of the StockNews.com research report on Synopsys (SNPS)
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