Schechter Investment Advisors LLC Sells 75 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Schechter Investment Advisors LLC reduced its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 7.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 935 shares of the semiconductor company’s stock after selling 75 shares during the period. Schechter Investment Advisors LLC’s holdings in Synopsys were worth $481,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of SNPS. Cibc World Market Inc. raised its position in Synopsys by 58.8% during the 1st quarter. Cibc World Market Inc. now owns 11,893 shares of the semiconductor company’s stock valued at $3,964,000 after purchasing an additional 4,402 shares in the last quarter. Prudential PLC bought a new position in shares of Synopsys in the 1st quarter worth $993,000. Sequoia Financial Advisors LLC bought a new position in shares of Synopsys in the 1st quarter worth $240,000. Covestor Ltd raised its position in shares of Synopsys by 18.9% in the 1st quarter. Covestor Ltd now owns 271 shares of the semiconductor company’s stock worth $90,000 after acquiring an additional 43 shares in the last quarter. Finally, Mather Group LLC. raised its position in shares of Synopsys by 64.4% in the 1st quarter. Mather Group LLC. now owns 1,680 shares of the semiconductor company’s stock worth $560,000 after acquiring an additional 658 shares in the last quarter. 85.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SNPS has been the subject of several recent research reports. Wells Fargo & Company boosted their price target on Synopsys from $620.00 to $630.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 13th. StockNews.com raised Synopsys from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $660.00 target price on shares of Synopsys in a research report on Friday, March 22nd. Robert W. Baird upped their target price on Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $615.00 target price on shares of Synopsys in a research report on Thursday, March 21st. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, Synopsys currently has an average rating of “Buy” and a consensus price target of $594.60.

Synopsys Stock Performance

Shares of SNPS stock opened at $571.50 on Friday. The stock’s 50-day simple moving average is $561.42 and its 200-day simple moving average is $522.15. The firm has a market capitalization of $87.18 billion, a PE ratio of 62.94, a P/E/G ratio of 3.26 and a beta of 1.07. Synopsys, Inc. has a fifty-two week low of $360.36 and a fifty-two week high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.13. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The company’s revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.75 earnings per share. Sell-side analysts forecast that Synopsys, Inc. will post 10.06 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Marc N. Casper bought 750 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were purchased at an average cost of $585.45 per share, with a total value of $439,087.50. Following the completion of the acquisition, the director now directly owns 1,736 shares in the company, valued at $1,016,341.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Synopsys news, CRO Richard S. Mahoney sold 9,065 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $494.70, for a total transaction of $4,484,455.50. Following the transaction, the executive now owns 1,617 shares in the company, valued at $799,929.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marc N. Casper purchased 750 shares of the stock in a transaction on Monday, March 25th. The shares were acquired at an average price of $585.45 per share, for a total transaction of $439,087.50. Following the transaction, the director now directly owns 1,736 shares of the company’s stock, valued at approximately $1,016,341.20. The disclosure for this purchase can be found here. Insiders have sold a total of 36,586 shares of company stock valued at $19,868,728 over the last ninety days. Company insiders own 0.66% of the company’s stock.

Synopsys Profile

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. 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.