Synopsys, Inc. (NASDAQ:SNPS) Shares Sold by Eagle Asset Management Inc.

Eagle Asset Management Inc. reduced its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 68.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 124,454 shares of the semiconductor company’s stock after selling 270,939 shares during the period. Eagle Asset Management Inc. owned approximately 0.08% of Synopsys worth $69,887,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Andina Capital Management LLC grew its position in Synopsys by 2.8% during the 2nd 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 period. Cascade Financial Partners LLC boosted its stake 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 worth $232,000 after acquiring an additional 18 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its stake in shares of Synopsys by 40.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 20 shares in the last quarter. Hilltop National Bank boosted its stake in shares of Synopsys by 6.0% during the 2nd quarter. Hilltop National Bank now owns 370 shares of the semiconductor company’s stock worth $220,000 after acquiring an additional 21 shares in the last quarter. Finally, Green Alpha Advisors LLC boosted its stake in shares of Synopsys by 1.7% during the 3rd quarter. Green Alpha Advisors LLC now owns 1,294 shares of the semiconductor company’s stock worth $655,000 after acquiring an additional 22 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Price Performance

Shares of NASDAQ SNPS opened at $557.73 on Friday. The company has a 50 day simple moving average of $519.28 and a 200-day simple moving average of $545.55. The company has a market capitalization of $85.67 billion, a P/E ratio of 57.86, a P/E/G ratio of 3.26 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 earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the firm earned $2.17 EPS. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, research analysts expect that Synopsys, Inc. will post 9.45 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SNPS. Loop Capital began coverage on shares of Synopsys in a research note on Monday, November 11th. They issued a “buy” rating and a $675.00 price target on the stock. Berenberg Bank began coverage on shares of Synopsys in a research note on Tuesday, October 15th. They issued a “buy” rating and a $660.00 price target on the stock. Mizuho began coverage on shares of Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research note on Tuesday, October 22nd. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research note on Friday, August 23rd. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $649.82.

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.