GHP Investment Advisors Inc. Sells 179 Shares of Synopsys, Inc. (NASDAQ:SNPS)

GHP Investment Advisors Inc. decreased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 0.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,137 shares of the semiconductor company’s stock after selling 179 shares during the period. GHP Investment Advisors Inc.’s holdings in Synopsys were worth $10,704,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SNPS. Andina Capital Management LLC raised its holdings in shares of Synopsys by 2.8% during the second quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock valued at $395,000 after acquiring an additional 18 shares in the last quarter. Cascade Financial Partners LLC raised its holdings in Synopsys by 4.9% in the 2nd quarter. Cascade Financial Partners LLC now owns 389 shares of the semiconductor company’s stock worth $232,000 after purchasing an additional 18 shares in the last quarter. Monument Capital Management lifted its position in shares of Synopsys by 1.1% in the 1st quarter. Monument Capital Management now owns 1,880 shares of the semiconductor company’s stock worth $1,074,000 after purchasing an additional 20 shares during the period. Tocqueville Asset Management L.P. boosted its stake in shares of Synopsys by 0.9% during the 1st quarter. Tocqueville Asset Management L.P. now owns 2,134 shares of the semiconductor company’s stock valued at $1,220,000 after purchasing an additional 20 shares in the last quarter. Finally, Hilltop National Bank increased its position in shares of Synopsys by 6.0% during the second quarter. Hilltop National Bank now owns 370 shares of the semiconductor company’s stock valued at $220,000 after buying an additional 21 shares during the period. Institutional investors own 85.47% of the company’s stock.

Synopsys Trading Up 1.3 %

NASDAQ:SNPS traded up $6.33 on Friday, reaching $501.58. 639,879 shares of the stock traded hands, compared to its average volume of 1,071,530. The company’s fifty day simple moving average is $508.43 and its 200 day simple moving average is $545.36. The company has a market capitalization of $77.05 billion, a price-to-earnings ratio of 52.03, a PEG ratio of 3.44 and a beta of 1.08. Synopsys, Inc. has a 12 month low of $448.91 and a 12 month high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data 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. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.17 EPS. Equities analysts anticipate 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 completion of the sale, the chief executive officer now directly owns 62,568 shares in the company, valued at $34,655,789.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Robert W. Baird raised 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. Mizuho began coverage on Synopsys in a research report on Tuesday. They set an “outperform” rating and a $650.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price target on shares of Synopsys in a research note on Tuesday. Piper Sandler lowered their price objective on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Berenberg Bank initiated coverage on shares of Synopsys in a research report on Tuesday, October 15th. They issued a “buy” rating and a $660.00 target price on the stock. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $643.00.

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.