FourThought Financial LLC reduced its position in Synopsys, Inc. (NASDAQ:SNPS – Get Rating) by 18.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 364 shares of the semiconductor company’s stock after selling 84 shares during the quarter. FourThought Financial LLC’s holdings in Synopsys were worth $111,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Altshuler Shaham Ltd bought a new stake in Synopsys in the third quarter valued at about $35,000. MV Capital Management Inc. increased its holdings in Synopsys by 47.2% in the third quarter. MV Capital Management Inc. now owns 131 shares of the semiconductor company’s stock valued at $40,000 after buying an additional 42 shares during the last quarter. Clearstead Advisors LLC acquired a new position in Synopsys in the second quarter valued at approximately $42,000. Ronald Blue Trust Inc. acquired a new position in Synopsys in the second quarter valued at approximately $59,000. Finally, CI Investments Inc. boosted its stake in Synopsys by 957.9% in the third quarter. CI Investments Inc. now owns 201 shares of the semiconductor company’s stock valued at $61,000 after acquiring an additional 182 shares during the period. 84.68% of the stock is owned by institutional investors.
Insider Buying and Selling at Synopsys
In other Synopsys news, CAO Sudhindra Kankanwadi sold 4,000 shares of the business’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $361.08, for a total transaction of $1,444,320.00. Following the sale, the chief accounting officer now directly owns 16,723 shares of the company’s stock, valued at approximately $6,038,340.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider John F. Runkel, Jr. sold 3,464 shares of the business’s stock in a transaction on Friday, February 17th. The shares were sold at an average price of $353.91, for a total transaction of $1,225,944.24. Following the transaction, the insider now directly owns 25,112 shares in the company, valued at approximately $8,887,387.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Sudhindra Kankanwadi sold 4,000 shares of the business’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $361.08, for a total transaction of $1,444,320.00. Following the transaction, the chief accounting officer now owns 16,723 shares in the company, valued at $6,038,340.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,736 shares of company stock valued at $21,590,891. Corporate insiders own 0.69% of the company’s stock.
Synopsys Price Performance
Synopsys (NASDAQ:SNPS – Get Rating) last released its earnings results on Wednesday, February 15th. The semiconductor company reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.12. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.36 billion. Synopsys had a return on equity of 16.88% and a net margin of 18.22%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.78 earnings per share. Equities analysts expect that Synopsys, Inc. will post 7.2 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on SNPS. Bank of America upgraded Synopsys from a “neutral” rating to a “buy” rating and set a $410.00 target price for the company in a research note on Friday, December 16th. Atlantic Securities began coverage on Synopsys in a research note on Tuesday, January 17th. They issued an “overweight” rating for the company. Wells Fargo & Company lifted their target price on Synopsys from $400.00 to $410.00 and gave the company an “overweight” rating in a research note on Thursday, February 16th. Needham & Company LLC lifted their target price on Synopsys from $420.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, February 16th. Finally, StockNews.com initiated coverage on Synopsys in a research report on Thursday. They set a “buy” rating for the company. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $424.18.
Synopsys, Inc engages in the provision of software products and consulting services in the electronic design automation industry. It operates through the following segments: Semiconductor and System Design, and Software Integrity. The Semiconductor and System Design segment includes the EDA, IP and System Integration.
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