ABLE Financial Group LLC Acquires 378 Shares of Synopsys, Inc. (NASDAQ:SNPS)

ABLE Financial Group LLC lifted its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 16.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,657 shares of the semiconductor company’s stock after purchasing an additional 378 shares during the quarter. ABLE Financial Group LLC’s holdings in Synopsys were worth $1,345,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the sale, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SNPS shares. Robert W. Baird upped their price objective on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Berenberg Bank started coverage on shares of Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target on the stock. Needham & Company LLC restated a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research note on Tuesday, October 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. Finally, JPMorgan Chase & Co. lifted their price target on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, Synopsys currently has an average rating of “Buy” and an average target price of $643.00.

Synopsys Trading Down 1.1 %

Shares of NASDAQ:SNPS traded down $6.10 during trading on Friday, reaching $567.49. 153,028 shares of the stock were exchanged, compared to its average volume of 1,063,884. The firm has a market cap of $87.17 billion, a PE ratio of 59.50, a PEG ratio of 3.37 and a beta of 1.08. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The stock has a 50-day moving average price of $505.80 and a 200-day moving average price of $544.28.

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

About Synopsys

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.