Inspire Investing LLC Has $8.47 Million Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Inspire Investing LLC trimmed its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 16.4% during the second quarter, Holdings Channel.com reports. The firm owned 14,239 shares of the semiconductor company’s stock after selling 2,793 shares during the period. Synopsys accounts for approximately 1.0% of Inspire Investing LLC’s holdings, making the stock its 12th largest position. Inspire Investing LLC’s holdings in Synopsys were worth $8,473,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SNPS. ORG Partners LLC lifted its holdings in Synopsys by 600.0% during the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after buying an additional 36 shares in the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of Synopsys during the fourth quarter valued at $28,000. Chris Bulman Inc bought a new position in Synopsys in the second quarter valued at about $30,000. Jones Financial Companies Lllp increased its position in Synopsys by 233.3% in the fourth quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 42 shares during the period. Finally, Fortitude Family Office LLC raised its holdings in Synopsys by 66.7% during the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 24 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Buying and Selling at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 62,568 shares of the company’s stock, valued at $34,655,789.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Synopsys news, insider Geus Aart De sold 8,158 shares of Synopsys stock in a transaction 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 sale, the insider now directly owns 106,983 shares in the company, valued at approximately $64,466,885.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction dated 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 transaction, the chief executive officer now 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 valued at $44,616,637 in the last 90 days. 0.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SNPS. Robert W. Baird lifted their price target 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. increased their price target on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $687.00 price objective on shares of Synopsys in a research note on Thursday, August 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a report on Friday, August 23rd. Finally, KeyCorp raised their target price on Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $630.09.

Synopsys Price Performance

NASDAQ:SNPS opened at $495.95 on Thursday. The business’s 50-day simple moving average is $530.00 and its 200-day simple moving average is $557.62. Synopsys, Inc. has a fifty-two week low of $440.62 and a fifty-two week high of $629.38. The stock has a market capitalization of $75.99 billion, a PE ratio of 53.91, a price-to-earnings-growth ratio of 3.23 and a beta of 1.08.

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