Richardson Financial Services Inc. Decreases Stake in Synopsys, Inc. (NASDAQ:SNPS)

Richardson Financial Services Inc. lessened its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 2.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,532 shares of the semiconductor company’s stock after selling 38 shares during the period. Richardson Financial Services Inc.’s holdings in Synopsys were worth $912,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. ORG Partners LLC raised its stake 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 acquiring an additional 36 shares in the last quarter. Chris Bulman Inc purchased a new stake in shares of Synopsys in the 2nd quarter valued at about $30,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of Synopsys in the 4th quarter valued at about $28,000. Jones Financial Companies Lllp grew its stake in Synopsys by 233.3% during the 4th quarter. Jones Financial Companies Lllp now owns 60 shares of the semiconductor company’s stock worth $31,000 after buying an additional 42 shares during the last quarter. Finally, Fortitude Family Office LLC increased its position in Synopsys by 66.7% during the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock worth $36,000 after buying an additional 24 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Price Performance

Synopsys stock opened at $495.95 on Thursday. The stock’s 50 day moving average price is $530.00 and its 200 day moving average price is $557.62. Synopsys, Inc. has a 1-year low of $440.62 and a 1-year high of $629.38. The company has a market cap 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 announced its quarterly earnings results 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. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The business’s revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.17 EPS. On average, equities research analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Insider Activity

In related news, CEO Sassine Ghazi sold 10,293 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Geus Aart De sold 8,158 shares of Synopsys stock in a transaction that occurred on Thursday, June 27th. The stock was 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 directly owns 106,983 shares in the company, valued at approximately $64,466,885.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 62,568 shares in the company, valued at approximately $34,655,789.52. The disclosure for this sale can be found here. In the last three months, insiders sold 73,687 shares of company stock worth $44,616,637. Company insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Robert W. Baird increased their price objective on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. KeyCorp increased 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. Rosenblatt Securities restated a “buy” rating and issued a $635.00 price objective on shares of Synopsys in a research note on Friday, August 23rd. Needham & Company LLC reiterated a “buy” rating and set a $640.00 target price on shares of Synopsys in a research note on Thursday, August 22nd. Finally, JPMorgan Chase & Co. raised their price target on Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $630.09.

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.