Fulton Breakefield Broenniman LLC Sells 73 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Fulton Breakefield Broenniman LLC lowered its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 8.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 845 shares of the semiconductor company’s stock after selling 73 shares during the quarter. Fulton Breakefield Broenniman LLC’s holdings in Synopsys were worth $428,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. ORG Partners LLC grew its stake in shares of Synopsys by 600.0% in the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 36 shares in the last quarter. Chris Bulman Inc bought a new position in shares of Synopsys during the second quarter valued at about $30,000. Pacifica Partners Inc. purchased a new position in Synopsys during the third quarter worth about $25,000. Tsfg LLC grew its position in Synopsys by 75.0% in the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 24 shares in the last quarter. Finally, Fortitude Family Office LLC increased its stake in Synopsys by 66.7% in the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 24 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $553.89, for a total value of $5,701,189.77. Following the sale, the chief executive officer now directly owns 62,568 shares in the company, valued at $34,655,789.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.66% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SNPS shares. 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. Rosenblatt Securities restated a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. Needham & Company LLC reiterated a “buy” rating and set a $640.00 target price on shares of Synopsys in a research note on Thursday, August 22nd. Piper Sandler restated an “overweight” rating and set a $687.00 price target on shares of Synopsys in a research report on Thursday, August 22nd. Finally, Robert W. Baird lifted their price objective on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $644.00.

Synopsys Price Performance

Shares of SNPS stock opened at $501.35 on Thursday. The stock has a market capitalization of $76.81 billion, a price-to-earnings ratio of 54.49, a PEG ratio of 3.64 and a beta of 1.08. The company’s fifty day simple moving average is $512.58 and its two-hundred day simple moving average is $548.71. Synopsys, Inc. has a 1 year low of $448.91 and a 1 year high of $629.38.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.28 by $0.15. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.17 EPS. Equities research analysts anticipate 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.