GHP Investment Advisors Inc. lowered its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,356 shares of the semiconductor company’s stock after selling 645 shares during the period. GHP Investment Advisors Inc.’s holdings in Synopsys were worth $2,993,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Fort L.P. purchased a new position in Synopsys during the 2nd quarter worth $117,000. Piedmont Investment Advisors LLC purchased a new position in Synopsys during the 2nd quarter worth $149,000. Advisor Partners LLC purchased a new position in Synopsys during the 2nd quarter worth $205,000. Checchi Capital Advisers LLC purchased a new position in Synopsys during the 2nd quarter worth $205,000. Finally, First Republic Investment Management Inc. purchased a new position in Synopsys during the 2nd quarter worth $209,000. Hedge funds and other institutional investors own 88.62% of the company’s stock.
Shares of Synopsys stock opened at $89.57 on Thursday. The firm has a market cap of $14.65 billion, a price-to-earnings ratio of 101.78, a PEG ratio of 6.28 and a beta of 1.18. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.04. Synopsys, Inc. has a one year low of $80.13 and a one year high of $103.40.
Synopsys (NASDAQ:SNPS) last announced its quarterly earnings results on Wednesday, August 22nd. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.03. The business had revenue of $779.70 million during the quarter, compared to the consensus estimate of $773.61 million. Synopsys had a net margin of 1.92% and a return on equity of 5.52%. The business’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.92 EPS. On average, equities research analysts forecast that Synopsys, Inc. will post 1.57 earnings per share for the current year.
SNPS has been the subject of a number of analyst reports. BidaskClub upgraded shares of Synopsys from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 28th. Needham & Company LLC restated a “buy” rating and set a $105.00 price objective (up previously from $100.00) on shares of Synopsys in a research report on Thursday, August 23rd. DA Davidson upped their price objective on shares of Synopsys to $110.00 and gave the stock a “buy” rating in a research report on Thursday, August 23rd. JPMorgan Chase & Co. upped their price objective on shares of Synopsys to $98.00 and gave the stock an “underweight” rating in a research report on Thursday, August 23rd. Finally, KeyCorp upped their price objective on shares of Synopsys from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, August 23rd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $106.14.
In other news, EVP Joseph W. Logan sold 20,000 shares of the stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $101.43, for a total value of $2,028,600.00. Following the completion of the transaction, the executive vice president now owns 88,271 shares in the company, valued at approximately $8,953,327.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel John F. Runkel, Jr. sold 10,000 shares of the stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $102.00, for a total transaction of $1,020,000.00. Following the completion of the transaction, the general counsel now owns 22,322 shares of the company’s stock, valued at approximately $2,276,844. The disclosure for this sale can be found here. Insiders sold a total of 33,609 shares of company stock valued at $3,416,177 in the last quarter. Insiders own 1.84% of the company’s stock.
Synopsys Company Profile
Synopsys, Inc provides electronic design automation (EDA) software products used to design and test integrated circuits (ICs). It offers Galaxy Design platform that offers IC design solutions; Verification Continuum Platform, which 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.
Further Reading: Return on Investment (ROI) Defined, Explained
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