LGT Financial Advisors LLC Boosts Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

LGT Financial Advisors LLC increased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 70.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 114 shares of the semiconductor company’s stock after buying an additional 47 shares during the quarter. LGT Financial Advisors LLC’s holdings in Synopsys were worth $68,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Waverton Investment Management Ltd grew its holdings in shares of Synopsys by 21.9% in the second quarter. Waverton Investment Management Ltd now owns 274,452 shares of the semiconductor company’s stock valued at $163,288,000 after purchasing an additional 49,336 shares during the period. Kornitzer Capital Management Inc. KS grew its stake in shares of Synopsys by 0.7% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 16,451 shares of the semiconductor company’s stock valued at $9,789,000 after buying an additional 116 shares during the period. Belpointe Asset Management LLC increased its holdings in shares of Synopsys by 74.8% during the 2nd quarter. Belpointe Asset Management LLC now owns 4,167 shares of the semiconductor company’s stock worth $2,480,000 after buying an additional 1,783 shares during the last quarter. Simon Quick Advisors LLC raised its position in shares of Synopsys by 30.1% during the 2nd quarter. Simon Quick Advisors LLC now owns 973 shares of the semiconductor company’s stock valued at $579,000 after buying an additional 225 shares during the period. Finally, Fortis Capital Advisors LLC lifted its holdings in Synopsys by 409.3% in the second quarter. Fortis Capital Advisors LLC now owns 2,628 shares of the semiconductor company’s stock valued at $1,564,000 after acquiring an additional 2,112 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In related news, insider Geus Aart De sold 27,753 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $618.58, for a total value of $17,167,450.74. Following the transaction, the insider now owns 106,983 shares of the company’s stock, valued at $66,177,544.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Geus Aart De sold 27,753 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $618.58, for a total transaction of $17,167,450.74. Following the transaction, the insider now owns 106,983 shares in the company, valued at approximately $66,177,544.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John F. Runkel, Jr. sold 936 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $566.97, for a total transaction of $530,683.92. Following the transaction, the insider now owns 20,000 shares in the company, valued at $11,339,400. The disclosure for this sale can be found here. In the last three months, insiders sold 74,623 shares of company stock valued at $45,147,321. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on SNPS. JPMorgan Chase & Co. lifted their target price on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. KeyCorp boosted their price objective on shares of Synopsys from $675.00 to $690.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Robert W. Baird increased their target price on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research note on Friday, August 23rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set 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, the stock presently has an average rating of “Buy” and an average target price of $630.09.

Synopsys Trading Down 0.3 %

NASDAQ:SNPS opened at $476.03 on Friday. The stock has a fifty day moving average price of $552.67 and a 200 day moving average price of $563.02. Synopsys, Inc. has a 12-month low of $440.62 and a 12-month high of $629.38. The firm has a market cap of $73.12 billion, a PE ratio of 51.74, a price-to-earnings-growth ratio of 3.43 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, topping analysts’ consensus estimates of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the firm earned $2.17 earnings per share. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. Equities analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current year.

About Synopsys

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.