Oxinas Partners Wealth Management LLC Has $403,000 Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Oxinas Partners Wealth Management LLC lessened its stake in Synopsys, Inc. (NASDAQ:SNPS) by 27.3% in the third quarter, Holdings Channel reports. The firm owned 796 shares of the semiconductor company’s stock after selling 299 shares during the quarter. Oxinas Partners Wealth Management LLC’s holdings in Synopsys were worth $403,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Kingsview Wealth Management LLC bought a new position in Synopsys in the first quarter valued at about $239,000. Concurrent Investment Advisors LLC bought a new position in Synopsys in the first quarter valued at about $218,000. Jacobs & Co. CA bought a new position in Synopsys in the third quarter valued at about $10,554,000. Axxcess Wealth Management LLC grew its position in Synopsys by 44.9% in the first quarter. Axxcess Wealth Management LLC now owns 4,030 shares of the semiconductor company’s stock valued at $2,303,000 after acquiring an additional 1,249 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Synopsys by 61.0% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 29,221 shares of the semiconductor company’s stock valued at $17,388,000 after acquiring an additional 11,075 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In related news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction 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 in the company, valued at approximately $34,655,789.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.66% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SNPS. KeyCorp boosted their price target on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Piper Sandler reiterated an “overweight” rating and issued a $687.00 target price on shares of Synopsys in a report on Thursday, August 22nd. Berenberg Bank started coverage on Synopsys in a report on Tuesday. They issued a “buy” rating and a $660.00 target price on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $640.00 target price on shares of Synopsys in a report on Thursday, August 22nd. Eleven equities research 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 price target of $644.00.

Synopsys Price Performance

Shares of NASDAQ:SNPS traded down $27.90 during trading on Tuesday, reaching $517.56. 1,492,547 shares of the stock were exchanged, compared to its average volume of 1,078,447. Synopsys, Inc. has a 1-year low of $448.91 and a 1-year high of $629.38. The stock has a fifty day moving average of $511.99 and a two-hundred day moving average of $549.43. The firm has a market cap of $79.50 billion, a price-to-earnings ratio of 56.58, a price-to-earnings-growth ratio of 3.64 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, topping analysts’ consensus estimates of $3.28 by $0.15. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the firm earned $2.17 earnings per share. Synopsys’s revenue for the quarter was up 12.7% on a year-over-year basis. Sell-side analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current year.

Synopsys Profile

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.