Synopsys, Inc. (NASDAQ:SNPS) Stock Holdings Decreased by Accent Capital Management LLC

Accent Capital Management LLC decreased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 37.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,867 shares of the semiconductor company’s stock after selling 1,113 shares during the period. Accent Capital Management LLC’s holdings in Synopsys were worth $945,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of SNPS. Capital World Investors raised its position in shares of Synopsys by 12.5% during the 1st quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock worth $4,211,892,000 after purchasing an additional 818,485 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Synopsys by 39.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock valued at $3,050,441,000 after acquiring an additional 1,514,449 shares during the period. GQG Partners LLC grew its position in shares of Synopsys by 91.6% during the first quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock worth $1,197,350,000 after acquiring an additional 1,001,371 shares during the last quarter. Swedbank AB increased its holdings in shares of Synopsys by 1.4% in the 2nd quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock worth $1,110,461,000 after acquiring an additional 25,999 shares during the period. Finally, Van ECK Associates Corp boosted its stake in Synopsys by 26.5% during the 3rd quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock valued at $791,923,000 after purchasing an additional 335,993 shares during the period. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Synopsys Price Performance

Shares of SNPS opened at $520.75 on Friday. Synopsys, Inc. has a 12-month low of $457.52 and a 12-month high of $629.38. The stock has a market capitalization of $79.99 billion, a P/E ratio of 54.02, a P/E/G ratio of 3.18 and a beta of 1.08. The firm’s 50 day moving average is $514.14 and its 200-day moving average is $545.35.

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

Insider Activity

In other news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction that occurred on Friday, August 23rd. The shares were 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 directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. This trade represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Piper Sandler lowered their target price on Synopsys from $687.00 to $670.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Robert W. Baird boosted their price target on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Needham & Company LLC reissued a “buy” rating and set a $640.00 price target on shares of Synopsys in a report on Tuesday, October 22nd. Finally, Mizuho began coverage on shares of Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price objective for the company. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $649.82.

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.