Geneva Partners LLC Trims Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Geneva Partners LLC cut its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 72.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 700 shares of the semiconductor company’s stock after selling 1,818 shares during the quarter. Geneva Partners LLC’s holdings in Synopsys were worth $354,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SNPS. Norden Group LLC raised its holdings in Synopsys by 24.3% in the 1st quarter. Norden Group LLC now owns 567 shares of the semiconductor company’s stock valued at $324,000 after acquiring an additional 111 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in Synopsys by 21.1% in the first quarter. Janney Montgomery Scott LLC now owns 20,411 shares of the semiconductor company’s stock valued at $11,665,000 after purchasing an additional 3,553 shares during the period. Jennison Associates LLC increased its position in Synopsys by 33.2% during the first quarter. Jennison Associates LLC now owns 9,551 shares of the semiconductor company’s stock worth $5,458,000 after purchasing an additional 2,379 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in Synopsys during the first quarter worth approximately $438,000. Finally, Larson Financial Group LLC boosted its holdings in shares of Synopsys by 200.0% in the 1st quarter. Larson Financial Group LLC now owns 375 shares of the semiconductor company’s stock valued at $214,000 after purchasing an additional 250 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Price Performance

Shares of SNPS stock opened at $524.52 on Tuesday. The company’s fifty day moving average price is $504.93 and its two-hundred day moving average price is $544.14. The firm has a market capitalization of $80.57 billion, a P/E ratio of 54.41, a P/E/G ratio of 3.16 and a beta of 1.08. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 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 the consensus estimate of $1.52 billion. During the same quarter in the prior year, the business posted $2.17 earnings per share. Synopsys’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, sell-side analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SNPS. Piper Sandler dropped their price objective on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Robert W. Baird boosted their target price on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Needham & Company LLC restated a “buy” rating and issued a $640.00 price target on shares of Synopsys in a report on Tuesday, October 22nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $635.00 price target on shares of Synopsys in a research report on Friday, August 23rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Synopsys currently has a consensus rating of “Buy” and an average target price of $643.00.

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction dated 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 owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is currently owned by 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.