Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Bar Harbor Wealth Management

by · The Cerbat Gem

Bar Harbor Wealth Management reduced its position in shares of Synopsys, Inc. (NASDAQ:SNPS – Free Report) by 8.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 465 shares of the semiconductor company’s stock after selling 41 shares during the period. Bar Harbor Wealth Management’s holdings in Synopsys were worth $235,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Swedbank AB acquired a new stake in Synopsys in the first quarter valued at $1,051,637,000. Price T Rowe Associates Inc. MD grew its position in shares of Synopsys by 39.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock worth $3,050,441,000 after acquiring an additional 1,514,449 shares during the last quarter. GQG Partners LLC lifted its holdings in Synopsys by 91.6% in the first quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock worth $1,197,350,000 after purchasing an additional 1,001,371 shares during the period. Sustainable Growth Advisers LP acquired a new stake in Synopsys in the second quarter worth about $572,050,000. Finally, Capital World Investors lifted its holdings in Synopsys by 12.5% in the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock worth $4,211,892,000 after purchasing an additional 818,485 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction 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 $34,655,789.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.66% of the company’s stock.

Synopsys Stock Up 0.5 %

NASDAQ:SNPS opened at $507.03 on Friday. The firm has a market capitalization of $77.88 billion, a price-to-earnings ratio of 52.60, a price-to-earnings-growth ratio of 3.73 and a beta of 1.08. Synopsys, Inc. has a twelve month low of $448.91 and a twelve month high of $629.38. The stock’s 50 day moving average price is $512.02 and its two-hundred day moving average price is $547.92.

Synopsys (NASDAQ:SNPS – Get Free Report) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.15. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.17 EPS. As a group, analysts anticipate that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SNPS. Piper Sandler reaffirmed an “overweight” rating and set a $687.00 price objective on shares of Synopsys in a research note on Thursday, August 22nd. KeyCorp upped their target price on Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Robert W. Baird increased their price objective on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Rosenblatt Securities reiterated a “buy” rating and set a $635.00 price target on shares of Synopsys in a report on Friday, August 23rd. Finally, JPMorgan Chase & Co. increased their price target on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $644.00.

Get Our Latest Stock Report on SNPS

About Synopsys

(Free Report)

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.

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