Ieq Capital LLC Raises Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Ieq Capital LLC increased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 12.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 29,085 shares of the semiconductor company’s stock after acquiring an additional 3,146 shares during the period. Ieq Capital LLC’s holdings in Synopsys were worth $17,307,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SNPS. Middleton & Co. Inc. MA lifted its holdings in shares of Synopsys by 2.8% during the 2nd quarter. Middleton & Co. Inc. MA now owns 16,714 shares of the semiconductor company’s stock valued at $9,946,000 after purchasing an additional 450 shares during the last quarter. Carolinas Wealth Consulting LLC increased its position in Synopsys by 36.8% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 119 shares of the semiconductor company’s stock valued at $71,000 after buying an additional 32 shares in the last quarter. Gardner Lewis Asset Management L P raised its stake in Synopsys by 2.7% in the second quarter. Gardner Lewis Asset Management L P now owns 7,468 shares of the semiconductor company’s stock valued at $4,444,000 after buying an additional 197 shares during the last quarter. CCLA Investment Management boosted its holdings in Synopsys by 1.0% in the second quarter. CCLA Investment Management now owns 233,427 shares of the semiconductor company’s stock worth $138,805,000 after acquiring an additional 2,410 shares in the last quarter. Finally, Blair William & Co. IL grew its stake in shares of Synopsys by 3.5% during the second quarter. Blair William & Co. IL now owns 43,443 shares of the semiconductor company’s stock worth $25,851,000 after acquiring an additional 1,451 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Stock Performance

Shares of SNPS opened at $514.12 on Friday. The company has a market capitalization of $78.97 billion, a P/E ratio of 55.88, a P/E/G ratio of 3.29 and a beta of 1.08. The business’s 50-day moving average is $528.10 and its two-hundred day moving average is $557.32. Synopsys, Inc. has a fifty-two week low of $440.62 and a fifty-two week high of $629.38.

Synopsys (NASDAQ:SNPS) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 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 firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the company earned $2.17 earnings per share. Synopsys’s revenue for the quarter was up 12.7% compared to the same quarter last year. Analysts forecast that Synopsys, Inc. will post 9.45 EPS for the current year.

Analyst Ratings Changes

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

Insider Activity

In related news, insider Geus Aart De sold 5,448 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $620.95, for a total transaction of $3,382,935.60. Following the sale, the insider now owns 106,983 shares in the company, valued at $66,431,093.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Sassine Ghazi sold 10,293 shares of the business’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 sale, the chief executive officer now directly owns 62,568 shares in the company, valued at $34,655,789.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Geus Aart De sold 5,448 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $620.95, for a total value of $3,382,935.60. Following the transaction, the insider now directly owns 106,983 shares of the company’s stock, valued at $66,431,093.85. The disclosure for this sale can be found here. Insiders sold a total of 73,687 shares of company stock valued at $44,616,637 in the last three months. 0.66% of the stock is currently owned by corporate insiders.

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.