Catalyst Capital Advisors LLC Lowers Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Posted by Defense World Staff on Sep 11th, 2023

Catalyst Capital Advisors LLC trimmed its holdings in Synopsys, Inc. (NASDAQ:SNPS – Free Report) by 26.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 87 shares of the semiconductor company’s stock after selling 32 shares during the period. Catalyst Capital Advisors LLC’s holdings in Synopsys were worth $34,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Freedom Wealth Alliance LLC purchased a new position in shares of Synopsys in the fourth quarter valued at about $26,000. VitalStone Financial LLC bought a new stake in shares of Synopsys in the first quarter worth about $30,000. Ancora Advisors LLC bought a new position in shares of Synopsys during the fourth quarter valued at approximately $30,000. HHM Wealth Advisors LLC purchased a new stake in shares of Synopsys during the 1st quarter valued at $31,000. Finally, Compagnie Lombard Odier SCmA lifted its holdings in shares of Synopsys by 470.0% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 114 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 94 shares during the last quarter. 84.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SNPS has been the subject of several analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $500.00 price objective on shares of Synopsys in a report on Tuesday, August 15th. StockNews.com raised Synopsys from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 25th. Rosenblatt Securities reissued a “buy” rating and issued a $485.00 target price on shares of Synopsys in a research report on Wednesday, August 23rd. JPMorgan Chase & Co. upped their target price on Synopsys from $470.00 to $500.00 and gave the company an “overweight” rating in a research report on Thursday, August 17th. Finally, Stifel Nicolaus upped their target price on Synopsys from $445.00 to $470.00 and gave the company a “buy” rating in a research report on Thursday, August 17th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $462.50.

Check Out Our Latest Stock Report on SNPS

Synopsys Stock Performance

NASDAQ SNPS opened at $459.14 on Monday. The stock has a 50-day simple moving average of $445.26 and a two-hundred day simple moving average of $411.69. The firm has a market capitalization of $69.84 billion, a P/E ratio of 68.84, a PEG ratio of 3.55 and a beta of 1.11. Synopsys, Inc. has a fifty-two week low of $267.00 and a fifty-two week high of $471.15.

Synopsys (NASDAQ:SNPS – Get Free Report) last announced its quarterly earnings results on Wednesday, August 16th. The semiconductor company reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.74 by $0.14. Synopsys had a return on equity of 18.01% and a net margin of 18.71%. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the business earned $1.43 EPS. Synopsys’s revenue for the quarter was up 19.2% compared to the same quarter last year. As a group, analysts forecast that Synopsys, Inc. will post 7.87 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Geus Aart De sold 40,839 shares of Synopsys stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $428.18, for a total value of $17,486,443.02. Following the sale, the chief executive officer now directly owns 94,421 shares in the company, valued at approximately $40,429,183.78. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CRO Richard S. Mahoney sold 9,257 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $448.74, for a total transaction of $4,153,986.18. Following the transaction, the executive now directly owns 2,078 shares in the company, valued at approximately $932,481.72. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Geus Aart De sold 40,839 shares of the business’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $428.18, for a total value of $17,486,443.02. Following the transaction, the chief executive officer now owns 94,421 shares in the company, valued at $40,429,183.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,703 shares of company stock worth $43,025,310. Insiders own 0.69% of the company’s stock.

Synopsys Company Profile

(Free Report)

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. 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.