Pacer Advisors Inc. Lowers Stake in Synopsys, Inc. (NASDAQ:SNPS)

Pacer Advisors Inc. cut its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 20,308 shares of the semiconductor company’s stock after selling 306 shares during the period. Pacer Advisors Inc.’s holdings in Synopsys were worth $10,284,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. German American Bancorp Inc. increased its position in Synopsys by 13.2% during the 3rd quarter. German American Bancorp Inc. now owns 10,419 shares of the semiconductor company’s stock worth $5,276,000 after purchasing an additional 1,214 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Synopsys by 12.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 40,252 shares of the semiconductor company’s stock worth $20,383,000 after acquiring an additional 4,463 shares in the last quarter. King Luther Capital Management Corp increased its position in shares of Synopsys by 22.1% in the third quarter. King Luther Capital Management Corp now owns 11,372 shares of the semiconductor company’s stock worth $5,759,000 after acquiring an additional 2,059 shares in the last quarter. Cornerstone Advisors LLC raised its stake in shares of Synopsys by 40.0% in the 3rd quarter. Cornerstone Advisors LLC now owns 2,800 shares of the semiconductor company’s stock valued at $1,418,000 after acquiring an additional 800 shares during the period. Finally, Citizens Financial Group Inc. RI acquired a new position in shares of Synopsys during the 3rd quarter valued at $229,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Price Performance

Shares of SNPS stock opened at $565.07 on Friday. The firm has a fifty day moving average of $520.78 and a two-hundred day moving average of $545.66. The firm has a market cap of $86.80 billion, a P/E ratio of 58.62, a P/E/G ratio of 3.40 and a beta of 1.08. Synopsys, Inc. has a 1-year low of $457.52 and a 1-year high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 EPS 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 during the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the firm earned $2.17 earnings per share. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, sell-side analysts expect that Synopsys, Inc. will post 9.45 EPS for the current year.

Analysts Set New Price Targets

SNPS has been the topic of several research reports. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research report on Friday, August 23rd. Mizuho began coverage on Synopsys in a report on Tuesday, October 22nd. They set an “outperform” rating and a $650.00 target price on the stock. Wells Fargo & Company started coverage on Synopsys in a report on Friday. They issued an “equal weight” rating and a $570.00 price target for the company. Berenberg Bank assumed coverage on shares of Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective on the stock. Finally, Robert W. Baird upped their target price on shares of Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Synopsys has an average rating of “Moderate Buy” and a consensus target price of $644.36.

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.