Synopsys, Inc. (NASDAQ:SNPS) Stock Position Reduced by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lessened its stake in Synopsys, Inc. (NASDAQ:SNPS) by 2.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,300 shares of the semiconductor company’s stock after selling 500 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Synopsys were worth $10,280,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. 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 worth $395,000 after acquiring an additional 18 shares in the last quarter. Cascade Financial Partners LLC raised its stake in shares of 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 in the last quarter. Monument Capital Management lifted its holdings in shares of Synopsys by 1.1% during the 1st quarter. Monument Capital Management now owns 1,880 shares of the semiconductor company’s stock valued at $1,074,000 after buying an additional 20 shares during the last quarter. Tocqueville Asset Management L.P. grew its stake in shares of Synopsys by 0.9% in 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 buying an additional 20 shares in the last quarter. Finally, Hilltop National Bank increased its holdings in Synopsys by 6.0% in the second quarter. Hilltop National Bank now owns 370 shares of the semiconductor company’s stock worth $220,000 after buying an additional 21 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

NASDAQ SNPS opened at $501.58 on Friday. The company’s fifty day moving average is $509.38 and its two-hundred day moving average is $545.88. Synopsys, Inc. has a 52-week low of $448.91 and a 52-week high of $629.38. The firm has a market capitalization of $77.05 billion, a price-to-earnings ratio of 52.03, a P/E/G ratio of 3.44 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last released 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 business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the business earned $2.17 earnings per share. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, sell-side analysts expect that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Piper Sandler reduced their target price on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research note on Thursday. Berenberg Bank began coverage on shares of Synopsys in a research report on Tuesday, October 15th. They set a “buy” rating and a $660.00 target price on the stock. Mizuho began coverage on Synopsys in a research report on Tuesday. They issued an “outperform” rating and a $650.00 price target for the company. Robert W. Baird increased their price objective on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Finally, Rosenblatt Securities restated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, Synopsys presently has a consensus rating of “Buy” and an average price target of $643.00.

Insider Activity

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 sale, the chief executive officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.66% of the stock is currently 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.