IFP Advisors Inc Cuts Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

IFP Advisors Inc decreased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS – Get Rating) by 27.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 625 shares of the semiconductor company’s stock after selling 233 shares during the period. IFP Advisors Inc’s holdings in Synopsys were worth $73,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kistler Tiffany Companies LLC acquired a new stake in shares of Synopsys in the fourth quarter valued at about $32,000. Altshuler Shaham Ltd purchased a new position in Synopsys in the 3rd quarter valued at about $35,000. TCI Wealth Advisors Inc. raised its holdings in shares of Synopsys by 166.2% during the fourth quarter. TCI Wealth Advisors Inc. now owns 173 shares of the semiconductor company’s stock valued at $55,000 after acquiring an additional 108 shares during the last quarter. Glass Jacobson Investment Advisors llc purchased a new stake in shares of Synopsys during the fourth quarter worth approximately $57,000. Finally, CI Investments Inc. boosted its stake in Synopsys by 957.9% during the 3rd quarter. CI Investments Inc. now owns 201 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 182 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Synopsys Trading Up 1.2 %

Shares of NASDAQ SNPS opened at $373.28 on Tuesday. The stock has a fifty day simple moving average of $373.08 and a 200-day simple moving average of $348.62. Synopsys, Inc. has a twelve month low of $267.00 and a twelve month high of $392.79. The stock has a market capitalization of $56.85 billion, a PE ratio of 61.60, a PEG ratio of 3.30 and a beta of 1.18.

Synopsys (NASDAQ:SNPS – Get Rating) last issued its quarterly earnings results on Wednesday, February 15th. The semiconductor company reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.12. Synopsys had a net margin of 18.22% and a return on equity of 16.88%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the prior year, the company earned $1.78 earnings per share. The business’s quarterly revenue was up 7.2% on a year-over-year basis. On average, equities analysts predict that Synopsys, Inc. will post 7.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Atlantic Securities started coverage on shares of Synopsys in a research note on Tuesday, January 17th. They issued an “overweight” rating on the stock. Needham & Company LLC raised their target price on Synopsys from $420.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, February 16th. Rosenblatt Securities reissued a “buy” rating and set a $420.00 price target on shares of Synopsys in a research report on Tuesday, February 14th. Wells Fargo & Company raised their price objective on shares of Synopsys from $400.00 to $410.00 and gave the stock an “overweight” rating in a research report on Thursday, February 16th. Finally, StockNews.com assumed coverage on shares of Synopsys in a report on Thursday, March 16th. They issued a “buy” rating on the stock. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $424.18.

Insider Transactions at Synopsys

In related news, CAO Sudhindra Kankanwadi sold 4,000 shares of Synopsys stock in a transaction on Friday, February 24th. The stock was sold at an average price of $361.08, for a total value of $1,444,320.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,723 shares in the company, valued at $6,038,340.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider John F. Runkel, Jr. sold 3,464 shares of Synopsys stock in a transaction on Friday, February 17th. The shares were sold at an average price of $353.91, for a total transaction of $1,225,944.24. Following the completion of the sale, the insider now directly owns 25,112 shares of the company’s stock, valued at approximately $8,887,387.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Sudhindra Kankanwadi sold 4,000 shares of the stock in a transaction on Friday, February 24th. The shares were sold at an average price of $361.08, for a total value of $1,444,320.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,723 shares in the company, valued at approximately $6,038,340.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,464 shares of company stock valued at $4,235,984. 0.69% of the stock is currently owned by company insiders.

Synopsys Company Profile

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Synopsys, Inc engages in the provision of software products and consulting services in the electronic design automation industry. It operates through the following segments: Semiconductor and System Design, and Software Integrity. The Semiconductor and System Design segment includes the EDA, IP and System Integration.