Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by AdvisorNet Financial Inc

AdvisorNet Financial Inc reduced its stake in Synopsys, Inc. (NASDAQ:SNPSGet Rating) by 8.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 556 shares of the semiconductor company’s stock after selling 54 shares during the period. AdvisorNet Financial Inc’s holdings in Synopsys were worth $169,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Atlas Capital Advisors LLC lifted its stake in shares of Synopsys by 1.8% in the 1st quarter. Atlas Capital Advisors LLC now owns 2,176 shares of the semiconductor company’s stock worth $725,000 after acquiring an additional 38 shares during the period. Whittier Trust Co. lifted its stake in Synopsys by 6.8% during the first quarter. Whittier Trust Co. now owns 615 shares of the semiconductor company’s stock valued at $205,000 after purchasing an additional 39 shares during the last quarter. Ascent Group LLC lifted its stake in Synopsys by 2.7% during the first quarter. Ascent Group LLC now owns 1,494 shares of the semiconductor company’s stock valued at $498,000 after purchasing an additional 39 shares during the last quarter. M&T Bank Corp lifted its stake in Synopsys by 0.8% during the first quarter. M&T Bank Corp now owns 5,244 shares of the semiconductor company’s stock valued at $1,747,000 after purchasing an additional 40 shares during the last quarter. Finally, Covestor Ltd lifted its stake in Synopsys by 18.9% during the first quarter. Covestor Ltd now owns 271 shares of the semiconductor company’s stock valued at $90,000 after purchasing an additional 43 shares during the last quarter. 84.99% of the stock is owned by institutional investors and hedge funds.

Synopsys Trading Down 0.3 %

SNPS opened at $316.26 on Wednesday. The stock has a market capitalization of $48.36 billion, a PE ratio of 47.99, a PEG ratio of 3.06 and a beta of 1.23. Synopsys, Inc. has a 1-year low of $255.02 and a 1-year high of $391.17. The firm has a 50-day moving average price of $347.14 and a two-hundred day moving average price of $319.57.

Synopsys (NASDAQ:SNPSGet Rating) last released its quarterly earnings data on Wednesday, August 17th. The semiconductor company reported $2.10 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the firm earned $1.27 EPS. Synopsys’s quarterly revenue was up 18.0% compared to the same quarter last year. On average, research analysts predict that Synopsys, Inc. will post 6.41 EPS for the current year.

Synopsys announced that its board has initiated a share buyback plan on Thursday, September 1st that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the semiconductor company to purchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Synopsys

In other Synopsys news, CFO Trac Pham sold 18,393 shares of Synopsys stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $307.03, for a total value of $5,647,202.79. Following the transaction, the chief financial officer now owns 39,811 shares of the company’s stock, valued at $12,223,171.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Synopsys news, insider John F. Runkel, Jr. sold 3,464 shares of Synopsys stock in a transaction that occurred 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 transaction, the insider now owns 22,623 shares of the company’s stock, valued at $8,268,480.27. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Trac Pham sold 18,393 shares of Synopsys stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $307.03, for a total transaction of $5,647,202.79. Following the completion of the sale, the chief financial officer now owns 39,811 shares in the company, valued at $12,223,171.33. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 64,182 shares of company stock valued at $22,033,688. 1.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SNPS has been the subject of several recent research reports. Stifel Nicolaus initiated coverage on shares of Synopsys in a research note on Wednesday, September 7th. They set a “buy” rating and a $445.00 target price for the company. KeyCorp increased their target price on shares of Synopsys from $445.00 to $455.00 and gave the company an “overweight” rating in a research note on Thursday, August 18th. Wells Fargo & Company increased their target price on shares of Synopsys from $375.00 to $425.00 and gave the company an “overweight” rating in a research note on Thursday, August 11th. Wolfe Research started coverage on shares of Synopsys in a report on Tuesday, August 16th. They set an “outperform” rating and a $440.00 price target on the stock. Finally, Robert W. Baird boosted their price target on shares of Synopsys from $409.00 to $444.00 and gave the company an “outperform” rating in a report on Thursday, August 18th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Synopsys currently has an average rating of “Moderate Buy” and an average price target of $405.33.

About Synopsys

(Get Rating)

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.

Recommended Stories

Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

Receive News & Ratings for Synopsys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synopsys and related companies with MarketBeat.com's FREE daily email newsletter.