Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by MGO One Seven LLC

MGO One Seven LLC raised its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 67.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,694 shares of the semiconductor company’s stock after purchasing an additional 683 shares during the quarter. MGO One Seven LLC’s holdings in Synopsys were worth $1,008,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Kingsview Wealth Management LLC purchased a new position in shares of Synopsys during the 1st quarter worth approximately $239,000. Concurrent Investment Advisors LLC purchased a new position in shares of Synopsys during the first quarter worth $218,000. Bridgefront Capital LLC acquired a new stake in shares of Synopsys in the fourth quarter valued at $951,000. Vanguard Group Inc. raised its holdings in shares of Synopsys by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 13,551,092 shares of the semiconductor company’s stock valued at $6,977,593,000 after buying an additional 203,601 shares during the period. Finally, Axxcess Wealth Management LLC lifted its stake in Synopsys by 44.9% during the 1st quarter. Axxcess Wealth Management LLC now owns 4,030 shares of the semiconductor company’s stock worth $2,303,000 after acquiring an additional 1,249 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Synopsys Trading Up 0.2 %

Shares of SNPS stock opened at $490.07 on Friday. Synopsys, Inc. has a 12 month low of $440.62 and a 12 month high of $629.38. The company has a market cap of $75.28 billion, a P/E ratio of 53.27, a PEG ratio of 3.18 and a beta of 1.08. The firm has a fifty day moving average price of $536.92 and a 200 day moving average price of $559.39.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data 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 return on equity of 22.09% and a net margin of 24.06%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the prior year, the firm posted $2.17 EPS. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, equities analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on SNPS shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research report on Friday, August 23rd. Needham & Company LLC restated a “buy” rating and issued a $640.00 price objective on shares of Synopsys in a report on Thursday, August 22nd. Piper Sandler reiterated an “overweight” rating and set a $687.00 target price on shares of Synopsys in a report on Thursday, August 22nd. KeyCorp boosted their price target on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Finally, JPMorgan Chase & Co. increased their price objective on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $630.09.

Insider Buying and Selling at Synopsys

In other news, insider Geus Aart De sold 4,212 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $600.05, for a total transaction of $2,527,410.60. Following the completion of the sale, the insider now owns 106,983 shares in the company, valued at approximately $64,195,149.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Geus Aart De sold 4,212 shares of Synopsys stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $600.05, for a total transaction of $2,527,410.60. Following the sale, the insider now owns 106,983 shares in the company, valued at $64,195,149.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $553.89, for a total value of $5,701,189.77. Following the completion of the sale, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The disclosure for this sale can be found here. Insiders have sold 73,687 shares of company stock worth $44,616,637 over the last three months. Insiders own 0.66% of the company’s stock.

Synopsys 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.