Rathbones Group PLC Acquires 99 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Rathbones Group PLC grew its stake in Synopsys, Inc. (NASDAQ:SNPS) by 16.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 707 shares of the semiconductor company’s stock after purchasing an additional 99 shares during the period. Rathbones Group PLC’s holdings in Synopsys were worth $421,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Synopsys by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 13,829,357 shares of the semiconductor company’s stock valued at $7,903,478,000 after purchasing an additional 278,265 shares during the last quarter. Capital World Investors raised its stake in shares of Synopsys by 12.5% in the first quarter. Capital World Investors now owns 7,369,890 shares of the semiconductor company’s stock valued at $4,211,892,000 after acquiring an additional 818,485 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Synopsys by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock worth $3,050,441,000 after acquiring an additional 1,514,449 shares in the last quarter. GQG Partners LLC grew its position in Synopsys by 91.6% during the 1st quarter. GQG Partners LLC now owns 2,095,100 shares of the semiconductor company’s stock worth $1,197,350,000 after acquiring an additional 1,001,371 shares during the last quarter. Finally, Swedbank AB increased its holdings in Synopsys by 1.4% during the 2nd quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock valued at $1,110,461,000 after purchasing an additional 25,999 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Synopsys news, insider Geus Aart De sold 8,158 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $602.59, for a total value of $4,915,929.22. Following the completion of the sale, the insider now owns 106,983 shares of the company’s stock, valued at $64,466,885.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $553.89, for a total transaction 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 approximately $34,655,789.52. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Geus Aart De sold 8,158 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $602.59, for a total transaction of $4,915,929.22. Following the completion of the transaction, the insider now owns 106,983 shares of the company’s stock, valued at approximately $64,466,885.97. The disclosure for this sale can be found here. Insiders have sold 73,687 shares of company stock valued at $44,616,637 in the last 90 days. 0.66% of the stock is owned by insiders.

Synopsys Stock Performance

Shares of Synopsys stock opened at $502.25 on Wednesday. The firm has a fifty day moving average of $532.47 and a two-hundred day moving average of $558.06. The stock has a market capitalization of $76.95 billion, a price-to-earnings ratio of 54.59, a PEG ratio of 3.23 and a beta of 1.08. Synopsys, Inc. has a 52 week low of $440.62 and a 52 week high of $629.38.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.52 billion. During the same quarter in the prior year, the company posted $2.17 earnings per share. The firm’s revenue was up 12.7% on a year-over-year basis. As a group, research analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

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.