Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Bridges Investment Management Inc.

Bridges Investment Management Inc. lessened its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 28.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 528 shares of the semiconductor company’s stock after selling 207 shares during the quarter. Bridges Investment Management Inc.’s holdings in Synopsys were worth $267,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SNPS. ORG Partners LLC boosted its holdings in shares of Synopsys by 600.0% in the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 36 shares during the period. Pacifica Partners Inc. acquired a new position in Synopsys in the third quarter valued at approximately $25,000. Tsfg LLC boosted its stake in Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 24 shares during the period. Chris Bulman Inc acquired a new stake in shares of Synopsys during the 2nd quarter worth approximately $30,000. Finally, Hazlett Burt & Watson Inc. raised its position in shares of Synopsys by 40.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 20 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Price Performance

SNPS opened at $561.55 on Friday. The business has a 50 day moving average price of $507.77 and a two-hundred day moving average price of $544.81. The company has a market capitalization of $86.26 billion, a price-to-earnings ratio of 58.25, a price-to-earnings-growth ratio of 3.37 and a beta of 1.08. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.15. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter last year, the business posted $2.17 earnings per share. The company’s quarterly revenue was up 12.7% on a year-over-year basis. Equities analysts expect that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Rosenblatt Securities restated a “buy” rating and set a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. Berenberg Bank assumed coverage on shares of Synopsys in a report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target for the company. Robert W. Baird increased their price objective on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Piper Sandler reduced their target price on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Finally, Needham & Company LLC restated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Tuesday, October 22nd. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $643.00.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total value of $5,701,189.77. Following the transaction, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.66% of the company’s stock.

Synopsys Company 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.