Farther Finance Advisors LLC Purchases 1,354 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Farther Finance Advisors LLC boosted its position in Synopsys, Inc. (NASDAQ:SNPS) by 200.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,028 shares of the semiconductor company’s stock after purchasing an additional 1,354 shares during the quarter. Farther Finance Advisors LLC’s holdings in Synopsys were worth $1,220,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ORG Partners LLC grew its stake in shares of Synopsys by 600.0% in the second quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 36 shares in the last quarter. University of Texas Texas AM Investment Managment Co. bought a new position in shares of Synopsys during the fourth quarter worth approximately $28,000. Jones Financial Companies Lllp raised its position in shares of Synopsys by 233.3% in the fourth quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 42 shares in the last quarter. Fortitude Family Office LLC boosted its stake in shares of Synopsys by 66.7% in the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 24 shares during the period. Finally, Activest Wealth Management bought a new stake in shares of Synopsys in the first quarter valued at approximately $35,000. 85.47% of the stock is owned by institutional investors and hedge funds.

Synopsys Stock Up 0.5 %

Shares of SNPS opened at $519.58 on Monday. The stock has a market cap of $79.61 billion, a PE ratio of 56.48, a PEG ratio of 3.43 and a beta of 1.07. Synopsys, Inc. has a 12-month low of $440.62 and a 12-month high of $629.38. The business has a 50-day simple moving average of $561.37 and a two-hundred day simple moving average of $565.01.

Synopsys (NASDAQ:SNPS) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the business earned $2.17 EPS. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. On average, equities research analysts expect that Synopsys, Inc. will post 9.45 EPS for the current year.

Insider Buying and Selling

In related news, insider Geus Aart De sold 493 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $620.60, for a total transaction of $305,955.80. Following the completion of the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at approximately $66,393,649.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Synopsys news, insider Geus Aart De sold 493 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $620.60, for a total transaction of $305,955.80. Following the completion of the sale, the insider now owns 106,983 shares of the company’s stock, valued at approximately $66,393,649.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John F. Runkel, Jr. sold 936 shares of the business’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 completion of the transaction, the insider now owns 20,000 shares in the company, valued at approximately $11,339,400. The disclosure for this sale can be found here. Insiders have sold a total of 74,623 shares of company stock valued at $45,147,321 over the last 90 days. 0.66% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a report on Thursday, August 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research note on Friday, August 23rd. Robert W. Baird upped their price objective on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. raised their target price 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, KeyCorp upped their price target on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $630.09.

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.