Synopsys, Inc. (SNPS) Position Cut by Chevy Chase Trust Holdings Inc.

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Chevy Chase Trust Holdings Inc. trimmed its stake in Synopsys, Inc. (NASDAQ:SNPS) by 2.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 121,963 shares of the semiconductor company’s stock after selling 3,369 shares during the quarter. Chevy Chase Trust Holdings Inc. owned about 0.08% of Synopsys worth $12,027,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Fort L.P. purchased a new stake in Synopsys during the second quarter worth approximately $117,000. Piedmont Investment Advisors LLC purchased a new stake in Synopsys during the second quarter worth approximately $149,000. Advisor Partners LLC purchased a new stake in Synopsys during the second quarter worth approximately $205,000. Checchi Capital Advisers LLC purchased a new stake in Synopsys during the second quarter worth approximately $205,000. Finally, First Republic Investment Management Inc. purchased a new stake in Synopsys during the second quarter worth approximately $209,000. Hedge funds and other institutional investors own 87.57% of the company’s stock.

Several equities research analysts have issued reports on the stock. BidaskClub downgraded shares of Synopsys from a “hold” rating to a “sell” rating in a research note on Tuesday, October 9th. JPMorgan Chase & Co. boosted their price objective on shares of Synopsys to $98.00 and gave the stock an “underweight” rating in a research note on Thursday, August 23rd. DA Davidson upped their target price on shares of Synopsys to $110.00 and gave the company a “buy” rating in a research note on Thursday, August 23rd. Zacks Investment Research upgraded shares of Synopsys from a “hold” rating to a “buy” rating and set a $99.00 target price for the company in a research note on Tuesday, October 23rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $105.00 target price (up from $100.00) on shares of Synopsys in a research note on Thursday, August 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. Synopsys presently has a consensus rating of “Buy” and a consensus price target of $107.00.

Shares of SNPS stock opened at $87.81 on Wednesday. The firm has a market capitalization of $13.00 billion, a PE ratio of 99.78, a PEG ratio of 5.56 and a beta of 1.18. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.04. Synopsys, Inc. has a twelve month low of $80.13 and a twelve month high of $103.40.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 22nd. The semiconductor company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.03. The business had revenue of $779.70 million during the quarter, compared to the consensus estimate of $773.61 million. Synopsys had a net margin of 1.92% and a return on equity of 5.52%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 earnings per share. On average, research analysts predict that Synopsys, Inc. will post 1.57 EPS for the current year.

In other news, EVP Joseph W. Logan sold 20,000 shares of the company’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $101.43, for a total value of $2,028,600.00. Following the completion of the transaction, the executive vice president now directly owns 88,271 shares in the company, valued at $8,953,327.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Chi-Foon Chan sold 3,609 shares of the company’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $101.85, for a total transaction of $367,576.65. Following the completion of the transaction, the chief executive officer now owns 202,135 shares of the company’s stock, valued at $20,587,449.75. The disclosure for this sale can be found here. Insiders sold 33,609 shares of company stock valued at $3,416,177 over the last 90 days. Insiders own 1.84% of the company’s stock.

About Synopsys

Synopsys, Inc provides electronic design automation (EDA) software products used to design and test integrated circuits (ICs). It offers Galaxy Design platform that offers IC design solutions; Verification Continuum Platform, which provides 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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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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