HighTower Advisors LLC Sells 595 Shares of Synopsys, Inc. (NASDAQ:SNPS)

HighTower Advisors LLC decreased its stake in shares of Synopsys, Inc. (NASDAQ:SNPSGet Rating) by 10.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 5,296 shares of the semiconductor company’s stock after selling 595 shares during the period. HighTower Advisors LLC’s holdings in Synopsys were worth $1,765,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Boston Family Office LLC boosted its holdings in shares of Synopsys by 115.7% during the 1st quarter. Boston Family Office LLC now owns 3,495 shares of the semiconductor company’s stock worth $1,165,000 after buying an additional 1,875 shares during the period. US Bancorp DE boosted its holdings in Synopsys by 0.8% in the 1st quarter. US Bancorp DE now owns 44,340 shares of the semiconductor company’s stock valued at $14,777,000 after purchasing an additional 359 shares during the period. Syntax Advisors LLC boosted its holdings in Synopsys by 8.7% in the 1st quarter. Syntax Advisors LLC now owns 1,105 shares of the semiconductor company’s stock valued at $368,000 after purchasing an additional 88 shares during the period. Front Row Advisors LLC boosted its holdings in Synopsys by 4.4% in the 1st quarter. Front Row Advisors LLC now owns 12,647 shares of the semiconductor company’s stock valued at $4,215,000 after purchasing an additional 529 shares during the period. Finally, William Blair Investment Management LLC boosted its holdings in Synopsys by 2.9% in the 1st quarter. William Blair Investment Management LLC now owns 203,127 shares of the semiconductor company’s stock valued at $67,696,000 after purchasing an additional 5,675 shares during the period. Institutional investors own 84.99% of the company’s stock.

Synopsys Price Performance

SNPS stock opened at $332.04 on Thursday. The company has a 50 day simple moving average of $344.40 and a 200 day simple moving average of $318.10. The stock has a market cap of $50.77 billion, a price-to-earnings ratio of 50.39, a P/E/G ratio of 3.19 and a beta of 1.23. Synopsys, Inc. has a 1 year low of $255.02 and a 1 year high of $391.17.

Synopsys (NASDAQ:SNPSGet Rating) last released its quarterly earnings data on Wednesday, August 17th. The semiconductor company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.11. Synopsys had a net margin of 20.86% and a return on equity of 18.29%. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the prior year, the company earned $1.27 EPS. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. On average, equities research analysts anticipate that Synopsys, Inc. will post 6.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other Synopsys news, Director Mercedes Johnson sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $360.00, for a total transaction of $720,000.00. Following the sale, the director now directly owns 5,346 shares of the company’s stock, valued at approximately $1,924,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider John F. Runkel, Jr. sold 3,464 shares of the company’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $365.49, for a total value of $1,266,057.36. Following the sale, the insider now directly owns 22,623 shares of the company’s stock, valued at approximately $8,268,480.27. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Mercedes Johnson sold 2,000 shares of the company’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $360.00, for a total transaction of $720,000.00. Following the completion of the sale, the director now directly owns 5,346 shares in the company, valued at $1,924,560. The disclosure for this sale can be found here. Insiders have sold 64,182 shares of company stock valued at $22,033,688 in the last ninety days. 1.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. UBS Group cut their price objective on shares of Synopsys to $360.00 and set a “hold” rating for the company in a report on Thursday, May 19th. Wolfe Research initiated coverage on shares of Synopsys in a report on Tuesday, August 16th. They issued an “outperform” rating and a $440.00 price objective for the company. Atlantic Securities dropped their target price on shares of Synopsys to $350.00 and set a “na” rating for the company in a research report on Thursday, May 19th. Bank of America upgraded shares of Synopsys from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $325.00 to $360.00 in a research report on Wednesday, June 29th. Finally, Robert W. Baird boosted their target price on shares of Synopsys from $409.00 to $444.00 and gave the company an “outperform” rating in a research report on Thursday, August 18th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $401.73.

About Synopsys

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Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. The company offers Fusion Design Platform that provides digital design implementation solutions; Verification Continuum Platform that 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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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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