Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Sei Investments Co.

Sei Investments Co. grew its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 10.2% during the second quarter, Holdings Channel.com reports. The firm owned 234,623 shares of the semiconductor company’s stock after buying an additional 21,765 shares during the quarter. Sei Investments Co.’s holdings in Synopsys were worth $139,621,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. ORG Partners LLC raised its position in shares of 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 approximately $28,000. Chris Bulman Inc bought a new stake in Synopsys during the second quarter worth approximately $30,000. Jones Financial Companies Lllp lifted 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 boosted its stake in Synopsys by 66.7% during the 2nd quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 24 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors.

Synopsys Stock Down 1.5 %

Shares of Synopsys stock opened at $506.65 on Friday. Synopsys, Inc. has a 12 month low of $440.62 and a 12 month high of $629.38. The stock has a market cap of $77.63 billion, a PE ratio of 55.07, a price-to-earnings-growth ratio of 3.29 and a beta of 1.08. The business has a fifty day simple moving average of $525.96 and a 200-day simple moving average of $556.71.

Synopsys (NASDAQ:SNPS) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.15. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the company posted $2.17 EPS. Analysts expect that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SNPS. Piper Sandler restated an “overweight” rating and issued a $687.00 price objective on shares of Synopsys in a report on Thursday, August 22nd. Rosenblatt Securities restated a “buy” rating and set a $635.00 price objective on shares of Synopsys in a research report on Friday, August 23rd. JPMorgan Chase & Co. boosted their target price on shares of Synopsys from $655.00 to $685.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. KeyCorp raised their target price on shares of Synopsys from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Finally, Robert W. Baird upped their price target on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Synopsys has a consensus rating of “Buy” and an average target price of $630.09.

Insiders Place Their Bets

In other news, CEO Sassine Ghazi sold 10,293 shares of the company’s 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 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the business’s stock in a transaction dated 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 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 through this link. Also, insider Geus Aart De sold 493 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $620.60, for a total value of $305,955.80. Following the sale, the insider now owns 106,983 shares of the company’s stock, valued at approximately $66,393,649.80. The disclosure for this sale can be found here. Insiders sold a total of 73,687 shares of company stock worth $44,616,637 in the last quarter. 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.