Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Chesapeake Wealth Management

Chesapeake Wealth Management lessened its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 1.5% 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 2,020 shares of the semiconductor company’s stock after selling 31 shares during the quarter. Chesapeake Wealth Management’s holdings in Synopsys were worth $1,023,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. 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. bought a new position in Synopsys in the third quarter worth about $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 bought a new position in shares of Synopsys during the second quarter valued at 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. 85.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the completion of the sale, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. This represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Berenberg Bank initiated coverage on Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective for the company. Robert W. Baird boosted their price target on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a report on Friday, August 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Finally, Mizuho began coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price for the company. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $649.82.

Synopsys Trading Up 0.6 %

Shares of NASDAQ:SNPS opened at $523.98 on Tuesday. The company has a 50 day moving average of $515.34 and a 200-day moving average of $545.52. The firm has a market cap of $80.49 billion, a P/E ratio of 54.35, a P/E/G ratio of 3.18 and a beta of 1.08. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the company posted $2.17 EPS. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. Equities research analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current 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.