Zions Bancorporation N.A. Reduces Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Zions Bancorporation N.A. cut its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 7.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 438 shares of the semiconductor company’s stock after selling 34 shares during the quarter. Zions Bancorporation N.A.’s holdings in Synopsys were worth $222,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of SNPS. ORG Partners LLC grew its position in shares of Synopsys by 600.0% during the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 36 shares during the period. Pacifica Partners Inc. bought a new position in shares of Synopsys during the 3rd quarter valued at approximately $25,000. Tsfg LLC increased its stake in shares of Synopsys by 75.0% in the third quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 24 shares in the last quarter. Chris Bulman Inc purchased a new stake in Synopsys in the 2nd quarter worth $30,000. Finally, Hazlett Burt & Watson Inc. raised its holdings in Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 20 shares during the period. 85.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SNPS shares. Robert W. Baird lifted their target price on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 target price on shares of Synopsys in a research note on Tuesday, October 22nd. Loop Capital started coverage on shares of Synopsys in a report on Monday, November 11th. They set a “buy” rating and a $675.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their target price on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $649.82.

Synopsys Trading Down 5.0 %

Shares of SNPS stock opened at $520.75 on Friday. The company’s 50-day moving average price is $513.01 and its 200-day moving average price is $545.41. Synopsys, Inc. has a twelve month low of $457.52 and a twelve month high of $629.38. The stock has a market cap of $79.99 billion, a price-to-earnings ratio of 54.02, a PEG ratio of 3.40 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, beating the consensus estimate of $3.28 by $0.15. The firm had revenue of $1.53 billion for 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 business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.17 EPS. As a group, equities research analysts predict that Synopsys, Inc. will post 9.45 EPS for the current year.

Insider Buying and Selling

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Synopsys Company 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.