Synopsys, Inc. (NASDAQ:SNPS) Shares Purchased by King Luther Capital Management Corp

King Luther Capital Management Corp raised its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 50.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 9,313 shares of the semiconductor company’s stock after buying an additional 3,129 shares during the period. King Luther Capital Management Corp’s holdings in Synopsys were worth $5,542,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SNPS. ORG Partners LLC grew its stake in shares of Synopsys by 600.0% in the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 36 shares during the last quarter. University of Texas Texas AM Investment Managment Co. purchased a new position in shares of Synopsys in the fourth quarter worth approximately $28,000. Chris Bulman Inc purchased a new position in shares of Synopsys in the second quarter worth approximately $30,000. Jones Financial Companies Lllp increased its position in shares of 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 acquiring an additional 42 shares in the last quarter. Finally, Fortitude Family Office LLC increased its position in shares of Synopsys by 66.7% in the second quarter. Fortitude Family Office LLC now owns 60 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 24 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Insider Buying and Selling

In related news, insider Geus Aart De sold 4,212 shares of the stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $600.05, for a total transaction of $2,527,410.60. Following the completion of the sale, the insider now owns 106,983 shares in the company, valued at approximately $64,195,149.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Synopsys news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the sale, the chief executive officer now owns 62,568 shares of the company’s stock, valued at approximately $34,655,789.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Geus Aart De sold 4,212 shares of the stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $600.05, for a total transaction of $2,527,410.60. Following the sale, the insider now directly owns 106,983 shares in the company, valued at approximately $64,195,149.15. The disclosure for this sale can be found here. Insiders sold 73,687 shares of company stock worth $44,616,637 in the last quarter. 0.66% of the stock is owned by corporate insiders.

Synopsys Trading Down 1.5 %

Shares of SNPS stock opened at $506.65 on Friday. The firm has a market capitalization of $77.63 billion, a P/E ratio of 55.07, a price-to-earnings-growth ratio of 3.29 and a beta of 1.08. The firm’s fifty day simple moving average is $525.96 and its 200 day simple moving average is $556.71. Synopsys, Inc. has a 1 year low of $440.62 and a 1 year high of $629.38.

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 the consensus estimate of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the previous year, the firm posted $2.17 EPS. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. Equities research analysts anticipate that Synopsys, Inc. will post 9.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SNPS shares. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 target price on shares of Synopsys in a research report on Friday, August 23rd. Robert W. Baird raised their price target on shares of Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Needham & Company LLC restated a “buy” rating and set a $640.00 price target on shares of Synopsys in a report on Thursday, August 22nd. KeyCorp boosted their price objective 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. Finally, Piper Sandler restated an “overweight” rating and issued a $687.00 price objective on shares of Synopsys in a research note on Thursday, August 22nd. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $630.09.

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.