Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 3.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 164,569 shares of the semiconductor company’s stock after purchasing an additional 5,236 shares during the period. Envestnet Asset Management Inc. owned about 0.11% of Synopsys worth $97,929,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. 9258 Wealth Management LLC increased its holdings in Synopsys by 1.1% in the 4th quarter. 9258 Wealth Management LLC now owns 2,908 shares of the semiconductor company’s stock worth $1,497,000 after acquiring an additional 32 shares in the last quarter. Brown Advisory Inc. increased its stake in shares of Synopsys by 6.4% during the fourth quarter. Brown Advisory Inc. now owns 2,104 shares of the semiconductor company’s stock worth $1,083,000 after purchasing an additional 127 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Synopsys by 0.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 17,651 shares of the semiconductor company’s stock worth $9,089,000 after purchasing an additional 104 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in Synopsys by 0.8% in the 4th quarter. Coldstream Capital Management Inc. now owns 2,195 shares of the semiconductor company’s stock valued at $1,130,000 after buying an additional 18 shares in the last quarter. Finally, Balentine LLC boosted its holdings in Synopsys by 69.7% in the 4th quarter. Balentine LLC now owns 1,648 shares of the semiconductor company’s stock worth $849,000 after buying an additional 677 shares during the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SNPS has been the subject of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $640.00 target price on shares of Synopsys in a report on Thursday, August 22nd. 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. Robert W. Baird lifted 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 reiterated a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research report on Friday, August 23rd. Finally, Piper Sandler restated an “overweight” rating and set a $687.00 price target on shares of Synopsys in a research report on Thursday, August 22nd. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $630.09.

Synopsys Price Performance

NASDAQ:SNPS opened at $502.25 on Wednesday. The company’s 50-day moving average is $532.47 and its two-hundred day moving average is $558.06. Synopsys, Inc. has a 1-year low of $440.62 and a 1-year high of $629.38. The firm 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 (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. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.17 earnings per share. As a group, equities analysts anticipate that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Synopsys news, insider Geus Aart De sold 493 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $620.60, for a total value of $305,955.80. Following the transaction, the insider now owns 106,983 shares of the company’s stock, valued at $66,393,649.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Sassine Ghazi sold 10,293 shares of Synopsys stock in a transaction on Friday, August 23rd. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Geus Aart De sold 493 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $620.60, for a total value of $305,955.80. Following the completion of the sale, the insider now owns 106,983 shares in the company, valued at approximately $66,393,649.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,687 shares of company stock valued at $44,616,637. 0.66% of the stock is currently owned by insiders.

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.