Central Asset Investments & Management Holdings HK Ltd Sells 90 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Central Asset Investments & Management Holdings HK Ltd lessened its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 1.6% in the second quarter, Holdings Channel reports. The institutional investor owned 5,443 shares of the semiconductor company’s stock after selling 90 shares during the period. Synopsys accounts for approximately 1.2% of Central Asset Investments & Management Holdings HK Ltd’s holdings, making the stock its 11th largest position. Central Asset Investments & Management Holdings HK Ltd’s holdings in Synopsys were worth $3,239,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SNPS. Coldstream Capital Management Inc. raised its holdings in Synopsys by 0.8% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,195 shares of the semiconductor company’s stock worth $1,130,000 after purchasing an additional 18 shares during the last quarter. Andina Capital Management LLC raised its holdings in Synopsys by 2.8% during the 2nd quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company’s stock worth $395,000 after purchasing an additional 18 shares during the last quarter. Cascade Financial Partners LLC raised its holdings in Synopsys by 4.9% during 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 during the last quarter. Hazlett Burt & Watson Inc. raised its holdings in Synopsys by 40.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 20 shares during the last quarter. Finally, Ignite Planners LLC raised its holdings in Synopsys by 3.5% during the 1st quarter. Ignite Planners LLC now owns 596 shares of the semiconductor company’s stock worth $344,000 after purchasing an additional 20 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Trading Up 0.7 %

NASDAQ SNPS opened at $502.25 on Wednesday. The company has a fifty day simple moving average of $532.47 and a 200 day simple moving average of $558.06. Synopsys, Inc. has a 12-month low of $440.62 and a 12-month high of $629.38. The company has a market cap of $76.95 billion, a P/E ratio of 54.59, a PEG ratio of 3.23 and a beta of 1.08.

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. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The business 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 posted $2.17 EPS. Synopsys’s revenue was up 12.7% compared to the same quarter last year. Sell-side analysts predict that Synopsys, Inc. will post 9.45 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on SNPS. Piper Sandler restated an “overweight” rating and set a $687.00 price target on shares of Synopsys in a report on Thursday, August 22nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 price objective on shares of Synopsys in a research report on Friday, August 23rd. 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 research report on Thursday, August 22nd. KeyCorp raised their price objective on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price objective on shares of Synopsys in a research report on Thursday, August 22nd. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $630.09.

Insider Activity at Synopsys

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction 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 transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Synopsys news, insider Geus Aart De sold 4,212 shares of Synopsys stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $600.05, for a total transaction of $2,527,410.60. Following the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $64,195,149.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sassine Ghazi sold 10,293 shares of Synopsys 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 transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at $34,655,789.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 73,687 shares of company stock valued at $44,616,637. 0.66% of the stock is owned by company insiders.

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.