Plato Investment Management Ltd Sells 374 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Plato Investment Management Ltd lessened its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 7.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,480 shares of the semiconductor company’s stock after selling 374 shares during the quarter. Plato Investment Management Ltd’s holdings in Synopsys were worth $2,266,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNPS. Andina Capital Management LLC boosted its holdings in Synopsys by 2.8% in the second 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 lifted its holdings 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 valued at $232,000 after buying an additional 18 shares during the period. Tocqueville Asset Management L.P. boosted 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 worth $1,220,000 after buying an additional 20 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its stake in shares of Synopsys by 40.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after buying an additional 20 shares during the last quarter. Finally, Hilltop National Bank grew its holdings in shares of 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 acquiring an additional 21 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

SNPS has been the topic of a number of recent research reports. Mizuho began coverage on Synopsys in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a research note on Tuesday, October 22nd. Piper Sandler cut their target price on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Loop Capital started coverage on shares of Synopsys in a report on Monday. They set a “buy” rating and a $675.00 target price for the company. Finally, Berenberg Bank initiated coverage on shares of Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price target on the stock. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $649.82.

Synopsys Price Performance

Shares of SNPS stock opened at $557.96 on Thursday. The company has a market capitalization of $85.71 billion, a price-to-earnings ratio of 57.88, a PEG ratio of 3.37 and a beta of 1.08. The company’s fifty day moving average price is $509.95 and its 200-day moving average price is $545.30. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, beating the consensus estimate 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 in the previous year, the business earned $2.17 earnings per share. The business’s revenue was up 12.7% on a year-over-year basis. Equities research analysts expect that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction that occurred 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.66% of the stock is currently owned by corporate 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.