ClariVest Asset Management LLC trimmed its position in Synopsys, Inc. (NASDAQ:SNPS) by 6.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 472,764 shares of the semiconductor company’s stock after selling 33,808 shares during the quarter. Synopsys accounts for 0.8% of ClariVest Asset Management LLC’s holdings, making the stock its 29th biggest holding. ClariVest Asset Management LLC owned 0.32% of Synopsys worth $46,618,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Fort L.P. bought a new stake in shares of Synopsys during the 2nd quarter valued at $117,000. Piedmont Investment Advisors LLC bought a new stake in shares of Synopsys during the 2nd quarter valued at $149,000. IFP Advisors Inc lifted its position in shares of Synopsys by 264.0% during the 3rd quarter. IFP Advisors Inc now owns 2,042 shares of the semiconductor company’s stock valued at $201,000 after acquiring an additional 1,481 shares during the period. Private Advisor Group LLC bought a new stake in shares of Synopsys during the 3rd quarter valued at $209,000. Finally, Lourd Capital LLC bought a new stake in shares of Synopsys during the 3rd quarter valued at $222,000. 87.72% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SNPS stock opened at $89.90 on Wednesday. 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. The firm has a market cap of $13.87 billion, a P/E ratio of 102.16, a price-to-earnings-growth ratio of 3.67 and a beta of 1.27.

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

A number of analysts have recently weighed in on SNPS shares. Zacks Investment Research upgraded Synopsys from a “hold” rating to a “buy” rating and set a $99.00 target price for the company in a research report on Tuesday, October 23rd. BidaskClub downgraded Synopsys from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 19th. DA Davidson upped their target price on Synopsys to $110.00 and gave the company a “buy” rating in a research report on Thursday, August 23rd. Needham & Company LLC restated a “buy” rating and set a $105.00 price objective (up from $100.00) on shares of Synopsys in a research report on Thursday, August 23rd. Finally, JPMorgan Chase & Co. upgraded Synopsys from an “underweight” rating to a “neutral” rating and set a $98.00 price objective for the company in a research report on Tuesday, October 23rd. One equities research analyst has rated the stock with a sell rating, one has given 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 target price of $107.00.

In other Synopsys news, CEO Chi-Foon Chan sold 3,609 shares of the stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $101.85, for a total value of $367,576.65. Following the completion of the transaction, the chief executive officer now directly owns 202,135 shares in the company, valued at $20,587,449.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel John F. Runkel, Jr. sold 10,000 shares of the stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $102.00, for a total value of $1,020,000.00. Following the completion of the transaction, the general counsel now owns 22,322 shares of the company’s stock, valued at $2,276,844. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,609 shares of company stock valued at $3,416,177. 1.84% of the stock is owned by corporate insiders.

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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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