Lakeview Capital Partners LLC Takes $203,000 Position in Synopsys, Inc. (NASDAQ:SNPS)

Lakeview Capital Partners LLC bought a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,481 shares of the semiconductor company’s stock, valued at approximately $203,000.

Other hedge funds have also added to or reduced their stakes in the company. Quest Capital Management Inc. ADV bought a new stake in Synopsys in the 3rd quarter worth approximately $25,000. Next Capital Management LLC purchased a new position in Synopsys in the second quarter worth approximately $26,000. Ruggie Capital Group purchased a new stake in shares of Synopsys during the 2nd quarter worth approximately $32,000. Virtus ETF Advisers LLC purchased a new stake in shares of Synopsys during the 2nd quarter worth approximately $34,000. Finally, Usca Ria LLC purchased a new stake in shares of Synopsys during the 3rd quarter worth approximately $42,000. Hedge funds and other institutional investors own 89.19% of the company’s stock.

SNPS has been the subject of several recent analyst reports. Bank of America initiated coverage on shares of Synopsys in a research report on Monday, September 23rd. They set a “buy” rating and a $171.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on shares of Synopsys from $138.00 to $157.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. ValuEngine downgraded shares of Synopsys from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research upgraded shares of Synopsys from a “sell” rating to a “hold” rating and set a $142.00 price objective for the company in a research report on Monday, August 26th. Finally, Needham & Company LLC set a $145.00 price objective on shares of Synopsys and gave the stock a “buy” rating in a research report on Monday, September 30th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $145.64.

SNPS stock traded up $0.98 on Friday, hitting $136.21. The company’s stock had a trading volume of 763,700 shares, compared to its average volume of 1,089,892. The stock has a market cap of $20.38 billion, a price-to-earnings ratio of 48.30, a price-to-earnings-growth ratio of 3.32 and a beta of 1.20. Synopsys, Inc. has a 1 year low of $79.14 and a 1 year high of $146.66. The firm has a 50 day moving average of $136.69 and a two-hundred day moving average of $130.73. The company has a current ratio of 0.99, a quick ratio of 0.90 and a debt-to-equity ratio of 0.03.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.03. The company had revenue of $853.00 million for the quarter, compared to analyst estimates of $831.03 million. Synopsys had a net margin of 18.94% and a return on equity of 16.56%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.95 EPS. As a group, equities analysts forecast that Synopsys, Inc. will post 3.15 EPS for the current fiscal year.

In other Synopsys news, CEO Chi-Foon Chan sold 4,578 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $137.14, for a total value of $627,826.92. Following the transaction, the chief executive officer now directly owns 199,539 shares in the company, valued at approximately $27,364,778.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Sudhindra Kankanwadi sold 8,011 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $144.30, for a total transaction of $1,155,987.30. Following the completion of the transaction, the vice president now owns 8,663 shares in the company, valued at $1,250,070.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,589 shares of company stock worth $3,158,514. 1.84% of the stock is owned by insiders.

About Synopsys

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits (ICs). It offers Fusion Design Platform, a digital design implementation solution; 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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