Bensler LLC Increases Position in Synopsys, Inc. (NASDAQ:SNPS)

Bensler LLC increased its position in Synopsys, Inc. (NASDAQ:SNPS) by 16.0% in the second quarter, HoldingsChannel.com reports. The fund owned 8,765 shares of the semiconductor company’s stock after buying an additional 1,206 shares during the period. Bensler LLC’s holdings in Synopsys were worth $5,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its stake in shares of Synopsys by 52,466.9% in the fourth quarter. International Assets Investment Management LLC now owns 176,099 shares of the semiconductor company’s stock worth $90,675,000 after acquiring an additional 175,764 shares during the period. Jennison Associates LLC grew its position in Synopsys by 7.8% during the 4th quarter. Jennison Associates LLC now owns 7,172 shares of the semiconductor company’s stock worth $3,693,000 after purchasing an additional 517 shares during the period. RWA Wealth Partners LLC purchased a new position in shares of Synopsys during the 4th quarter valued at about $220,000. Alaska Permanent Fund Corp lifted its holdings in shares of Synopsys by 17.6% in the 4th quarter. Alaska Permanent Fund Corp now owns 334 shares of the semiconductor company’s stock valued at $172,000 after buying an additional 50 shares during the period. Finally, Kovack Advisors Inc. lifted its holdings in shares of Synopsys by 17.8% in the 4th quarter. Kovack Advisors Inc. now owns 1,024 shares of the semiconductor company’s stock valued at $527,000 after buying an additional 155 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insiders Place Their Bets

In related news, insider Geus Aart De sold 5,448 shares of Synopsys stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $620.95, for a total transaction of $3,382,935.60. Following the transaction, the insider now owns 106,983 shares in the company, valued at $66,431,093.85. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider John F. Runkel, Jr. sold 936 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $566.97, for a total transaction of $530,683.92. Following the completion of the sale, the insider now owns 20,000 shares in the company, valued at approximately $11,339,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Geus Aart De sold 5,448 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $620.95, for a total value of $3,382,935.60. Following the completion of the transaction, the insider now owns 106,983 shares in the company, valued at $66,431,093.85. The disclosure for this sale can be found here. Insiders have sold 74,623 shares of company stock valued at $45,147,321 in the last ninety days. 0.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SNPS shares. Robert W. Baird lifted their price target on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 target price on shares of Synopsys in a research note on Thursday, August 22nd. Rosenblatt Securities reissued a “buy” rating and set a $635.00 price target on shares of Synopsys in a report on Friday. JPMorgan Chase & Co. lifted their price objective on shares of Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $687.00 price objective on shares of Synopsys in a research report on Thursday, August 22nd. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, Synopsys presently has an average rating of “Buy” and a consensus price target of $630.09.

Synopsys Stock Performance

Shares of NASDAQ:SNPS traded down $4.13 during trading on Tuesday, reaching $521.78. The stock had a trading volume of 1,462,142 shares, compared to its average volume of 1,066,878. Synopsys, Inc. has a 1-year low of $440.62 and a 1-year high of $629.38. The stock has a market cap of $79.95 billion, a PE ratio of 56.72, a PEG ratio of 3.58 and a beta of 1.07. The business has a fifty day moving average price of $569.13 and a 200-day moving average price of $566.33.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.15. Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the company posted $2.17 EPS. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. Sell-side analysts expect that Synopsys, Inc. will post 9.55 earnings per share for the current year.

Synopsys Company 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.